EXTRACTED: Daily News Clips 3/21/22
PIPELINE NEWS
Bismarck Tribune: DAPL protester lawsuit revived by appeals court; decisions on 3 other suits pending
Roanoke Times: With construction at a standstill, Mountain Valley Pipeline looks for solutions
CBS19: Chickahominy cancels power plant, natural gas pipeline project
WZTV: Community activists speak out against TN bill that would ease oil pipeline restrictions
WKRN: TN GOP lawmakers lead charge to ban local governments from preventing pipelines in their communities
STL Today: Illinois attorney general sues pipeline operator over oil spill in Edwardsville
Illinois Times: Concerns over CO2
Des Moines Register: Iowa regulators want your opinions about where Summit pipeline hearing should be held
Associated Press: Jury Awards $523K to Virginia Family in Pipeline Compensation Dispute
Corpus Christi Caller Times: Pipelines vs. landowners: Texas Supreme Court to settle fight over private property rights
WASHINGTON UPDATES
Axios: The Energy Department's delicate LNG position
New York Times: Largest Federal Utility Chooses Gas, Undermining Biden’s Climate Goals
Politico: GOP PROBES CLEMENTS’ ALLEGED CONFLICT OF INTEREST
STATE UPDATES
Carlsbad Current-Argus: Oil and gas companies face $275K in fines for not reporting methane pollution in New Mexico
EXTRACTION
Washington Post: Clean energy superstar or smokescreen for fossil fuel use? Here’s what you need to know about hydrogen.
Energy Monitor: The enduring threat to the Arctic from Big Oil
AZO: New Technique Results in Cheaper, More Efficient Carbon Capture
CLIMATE FINANCE
Politico: SWISS RE DROPS POLLUTER INSURANCE
Bloomberg: Wells Fargo’s $28 Billion Oil Lenders Are Ready for This Boom
TODAY IN GREENWASHING
Gettysburg Times: Enbridge event sponsor for ACAC’s annual golf tourney
OPINION
The McGill Daily: Support Divest McGill: Divest organizes longest occupation in McGill History
PIPELINE NEWS
Bismarck Tribune: DAPL protester lawsuit revived by appeals court; decisions on 3 other suits pending
BLAKE NICHOLSON, 3/18/22
“Federal appeals judges have revived part of a lawsuit filed by an Arizona man of Navajo heritage who alleges North Dakota law officers seriously injured him and violated his civil rights during protests against the Dakota Access Pipeline five years ago,” the Bismarck Tribune reports. “The 8th U.S. Circuit Court of Appeals also is considering two other excessive force lawsuits filed against law enforcement in the wake of the DAPL protests in 2016-17. A fourth lawsuit is still making its way through federal court. The three-judge panel of the 8th U.S. Circuit Court of Appeals on Tuesday ruled that U.S. District Judge Daniel Traynor improperly dismissed Marcus Mitchell's claim of excessive force. The judges also said that if Mitchell's claims are true, "then Morton County law enforcement engaged in a persistent pattern of excessive force against peaceful protesters that was tacitly authorized by (Morton County) Sheriff (Kyle) Kirchmeier and that led to Mitchell's injury." “...Mitchell, who is in his mid-to-late 20s and has most recently lived in New Mexico, sued in July 2019, alleging he was subjected to “excessive violence” by law officers who in January 2017 fired shotgun beanbag rounds at peaceful, unarmed protesters including himself. One round hit him in the left eye, resulting in long-term vision, hearing and smell problems along with chronic pain, he alleges… "Mitchell's allegations that he was 'peacefully protesting' -- neither committing a serious crime nor threatening anyone's safety nor fleeing or resisting arrest -- when the officers shot him with lead-filled bean bags capable of shattering his eye socket are sufficient to state a claim for excessive force," the panel said.
Roanoke Times: With construction at a standstill, Mountain Valley Pipeline looks for solutions
Laurence Hammack, 3/20/22
“Adding a splash of yellow to the drab winter landscape, dozens of excavators and bulldozers sit in rows on a gravel lot, idled by the latest stop in construction of the Mountain Valley Pipeline,” the Roanoke Times reports. “...Mountain Valley — which lost two permits this year to a federal appeals court that has repeatedly struck down its government-issued approvals — is facing the greatest danger of collapse since the $6.2 billion infrastructure project was authorized in 2017. While construction remains at a standstill, efforts to revive the pipeline continue on several fronts: Attorneys for Mountain Valley have asked the full 4th U.S. Circuit Court of Appeals to reconsider decisions by a three-judge panel, which in late January struck down a permit allowing the pipeline to pass through the Jefferson National Forest and the following week invalidated an opinion from the U.S. Fish and Wildlife Service that work would not jeopardize endangered species… “A federal appellate court based in Richmond — and in particular, three judges on the 15-member court — has been perhaps the sharpest thorn in the side of a joint venture of five energy companies that make up Mountain Valley Pipeline LLC… “Mountain Valley faces a steep uphill climb. When a three-judge panel’s decision is unanimous, as it was in the two cases at issue, the Fourth Circuit is cautious about granting an en banc hearing, Carl Tobias, an expert on the court who teaches at the University of Richmond’s law school, told the Times… “Pipeline opponents point to Mountain Valley’s environmental track record, which in Virginia includes nearly 400 violations of erosion and sediment control regulations and fines of more than $2 million from state regulators… “At a trial last week in Roanoke’s federal court, held to determine how much property owners should be paid for land taken by eminent domain, a Mountain Valley official testified that the hope is to have the pipeline in operation by next summer.”
CBS19: Chickahominy cancels power plant, natural gas pipeline project
3/19/22
“A power plant and pipeline project that would have impacted part of this area has been canceled,” CBS19 reports. “On Thursday, Chickahominy Power, LLC announced that it has terminated a plan for a 1,600 megawatt, $1.64 billion gas-fired power plant that was planned for Charles City County. Part of this project was also the Chickahominy Pipeline, LLC that would have transported natural gas from an existing Transco’s pipeline in Charlottesville, across Louisa County and other counties, to Charles City County.”
WZTV: Community activists speak out against TN bill that would ease oil pipeline restrictions
Jackie Delpilar, 3/20/22
“Environmental activists are speaking out against a new state bill that would make it easier to bring oil pipelines to communities,” WZTV reports. “The bill would strip local governments' ability to decide whether new energy infrastructure can come to their city, including oil, gas and electric companies. This comes after community outcry halted a controversial pipeline project in Memphis last year. Memphis City Council put in new regulations for energy companies following the pipeline debate. But this new bill at the state capitol would undo those laws and make it easier for pipelines to come to all Tennessee counties in the future. The bill would prohibit local governments from stopping or restricting new energy infrastructure in their city. “This legislation would, in essence, preempt any local government from being able to do anything about where pipelines are placed in their community,” Memphis Community Against Pollution President Justin J. Pearson told WZTV. He says elected local leaders should have a say in whether these projects come to their town. “The best thing would be for those folks who are trying to build those projects to involve the community. And now we're saying they don't have to do that,” he told WZTV.
WKRN: TN GOP lawmakers lead charge to ban local governments from preventing pipelines in their communities
Gerald Harris, 3/18/22
“Soon the state of Tennessee could decide if a pipeline shows up in your backyard and your local government could have little to no say. That’s because a bill proposed in the state legislature would prohibit counties and cities from stopping a pipeline from being built and leave that decision to the state,” WKRN reports. “...It preempts political subdivisions of this state from taking any action to restrict, prohibit or otherwise impair the development and implementation of the types of the sources of energy that may be used, delivered, or converted or supplied,” said Sen. Ken Yager (R-Kingston) during committee. Yager, who is sponsoring the Senate version, is using this bill to take aim at local governments like Shelby County which fought against a pipeline that would have run through a primarily Black neighborhood. “We’ve actually had one of our political subdivisions try to use the power of ordinance to stop and did stop a pipeline,” Yager told WKRN… “Democrats say local control over pipelines is proper and shouldn’t be usurped by state government. “When you want to put something as serious as a pipeline with such high pressure that if something happens it will absolutely devastate the community—that is not something you should have to appeal to the state,” said Sen. Raumesh Akbari (D-Memphis).
STL Today: Illinois attorney general sues pipeline operator over oil spill in Edwardsville
3/18/22
“The Illinois attorney general has filed a lawsuit against the operator of a pipeline that released at least 163,000 gallons of crude oil in and around a creek near Edwardsville last week,” STL Today reports. “The lawsuit from Attorney General Kwame Raoul's office was filed Friday against Marathon Pipe Line LLC, and alleges the spill "created a substantial danger to the environment and public health and welfare." “The long-lasting impact of this oil spill could be detrimental if not properly and quickly remediated," Raoul said in a statement. "I am committed to ensuring that Marathon is held accountable for the damage it has already done and preventing it from causing further harm to the public’s health and the environment.” The suit is seeking action by Marathon that will produce "final and permanent abatement," and asks for penalties of $50,000 for each violation of the Illinois Environmental Protection Act, plus additional fines of $10,000 for each day of violation… “The lawsuit cites severe harm to the environment, "including wildlife, surrounding wetlands and waterways." At least 10 animals have been found dead in the area, the suit states, and numerous others have been affected by the oil. The suit said at least 1.6 acres of wetland and 7 miles of Cahokia Creek have been affected.”
Illinois Times: Concerns over CO2
By Dean Olsen, 3/18/2
“Kathleen Campbell doesn't want to see a pipeline carrying pressurized, liquid carbon dioxide – which can cause suffocation – installed underground less than a football field away from her home in rural Sangamon County,” the Illinois Times reports. "How do you go to bed at night knowing you might not wake up in the morning?" Campbell, a Glenarm resident, asked. "If the pipeline ruptures, we're dead in a minute." The 70-year-old retired research scientist is among a growing number of landowners, environmentalists and farmers voicing concerns and organizing to oppose the $3 billion Heartland Greenway pipeline… “But Navigator spokeswoman Elizabeth Burns-Thompson told the Times the company, backed by the Blackstone global investment firm, is preparing to file applications with state regulatory bodies and intends to file with the Illinois Commerce Commission by May… “Navigator, which has held informational meetings in communities potentially affected by the project since fall 2021, contends the pipeline and the CO2 sequestration site would be safe, wouldn't harm underground water supplies and would be a boon for the environment… “But Champaign resident Lan Richart, co-director of the Eco-Justice Collaborative, an Illinois-based nonprofit, told the Times the installation of pipelines always causes damage to croplands, "much of it permanent, due to the mixing of topsoil and subsoil ... and unavoidable compaction by heavy equipment." “...They say the project would be riskier than the oil and natural-gas pipelines upon which many pipeline safety guidelines are based, and rural emergency responders aren't equipped to handle a rupture. "We're going to be like the garbage can for the other states," Joyce Blumenshine, a Peoria resident who is a member of the Illinois-based Coalition to Stop CO₂ Pipelines, told the Times. Blumenshine and other pipeline opponents are encouraging landowners not to grant voluntary easements… “Christian County farmer Mark Roth, whose home and land sit over the CO₂ sequestration site, told the Times he opposes the project because of the safety concerns and the potential long-term damage to farmland. He also believes there are better uses for federal tax dollars to protect the environment than by promoting CO₂ pipelines.
Des Moines Register: Iowa regulators want your opinions about where Summit pipeline hearing should be held
Donnelle Eller, 3/21/22
“This may be one of those situations with no right answer,” the Des Moines Register reports. “The Iowa Utilities Board wants Iowans' opinions about where it should hold a public hearing on Summit Carbon Solutions' request to build a $4.5 billion carbon capture pipeline. State code requires the board to hold pipeline hearing in the county seat closest to the midpoint of the proposed route. The board said in an order Friday that the hearing's location should provide "all landowners an approximate equal opportunity to attend the hearing.” But the Iowa midpoint of the proposed 680-mile Summit pipeline is difficult to determine, the board said, since it would have one primary line and several trunks crossing 29 counties in Iowa… “The board, didn't indicate a county where it thought the hearing should be held, saying it wanted to hear arguments for a location… “The board plans to hold a hearing on the hearing location following its monthly meeting 9 a.m. April 12 in Des Moines. The board will accept comments online until March 31.”
Associated Press: Jury Awards $523K to Virginia Family in Pipeline Compensation Dispute
3/19/22
“A jury has ordered a company that’s building a natural gas pipeline to pay about $523,000 to a Virginia family that owns land through which the controversial project will run,” the Associated Press reports. “Attorneys for Mountain Valley Pipeline argued during a four-day trial in Roanoke’s federal court that the Terry family deserved nearly $152,000 for their loss, The Roanoke Times reported. But the jury on Thursday awarded most of the $570,000 that the owners sought. Four years ago, the company offered about $119,000 for an eight-acre (3-hectare) easement through the 560-acre (226-hectare) property in Bent Mountain. The family refused to sell, so Mountain Valley used the power of eminent domain and quickly started cutting trees on land that includes forests, meadows and headwaters. The verdict came after conflicting testimony from appraisers who were tasked with putting a price on land that has been with the Terrys for seven generations. Jurors had to sort through four differing values and accounting methods. Frank Terry, who lives in a farmhouse on the property that he owns with his brother and sister, told the newspaper that the award was “a great thing for the jury to do” — but added that he would rather have the land back. “I don’t want them on my property, and if I could I’d keep them off,” Terry said of the construction workers.
Corpus Christi Caller Times: Pipelines vs. landowners: Texas Supreme Court to settle fight over private property rights
John C. Moritz, 3/20/22
“Two of Texas' bedrock principles — the right of private property owners to be fairly compensated when their land is seized and the right of private business to take the land it needs to bring oil products to the market — are on a collision course waiting for the state Supreme Court to determine which principle will prevail,” the Corpus Christi Caller Times reports. “At issue in the six-year battle now under review by the high court is a 30-foot strip of land that runs about 2 miles through about 16,000 acres of farmland in Brazoria County owned by brothers Terrance and Kenneth Hlavinka. In 2016, the landowners were approached by Enterprise Products Partners, which planned to build a pipeline to send a liquefied gas called propylene from Texas City to a plant in Freeport. The brothers had no objection to the project, but they rejected the offered price they thought was worth just pennies on the dollar to what their land was worth… “The Hlavinkas wanted $3.3 million for the easement. That's about what they'd received for the most recent pipeline project on their property. Enterprise's offer was closer to about $135,000, basing the offer on the going rate for agriculture land in the area. The true measure of the value, the Hlavinkas countered, was what the last willing buyer had paid for comparable dirt… “In their brief on behalf of the Hlavinka brothers, the Texas Farm Bureau and Texas and Southwestern Cattle Raisers Association said that if pipeline companies are left free to seize land on the cheap when the public's interest is not in play, the rights of private property owners would suffer. "Texas rural landowners and livestock producers have come under assault in recent years from the constant encroachment of economic development, oil and gas production, and an ever-increasing and extensive system of pipelines, many of which are for export from the U.S. or serve only a single corporate interest," the organizations said. "The system is grossly unbalanced."
WASHINGTON UPDATES
Axios: The Energy Department's delicate LNG position
Ben Geman, 3/17/22
“The Energy Department's approval of wider LNG exports destinations from two Cheniere Energy facilities provided a window into the Biden administration's rather complicated relationship with the fuel,” Axios reports. “Driving the news: The department Wednesday issued two long-term authorizations from Cheniere terminals in Louisiana and Texas to any countries that don't have free-trade deals with the U.S., including all of Europe, DOE said. The announcement — which drew cheers from industry groups — noted the U.S. has already been increasing exports to Europe and said LNG is important to global energy security. It also said that with exports rising, DOE is "particularly focused on driving down methane emissions in the oil and gas sector both domestically and abroad." Our thought bubble: Communications about topics DOE is really jazzed about look ... different. They have quotes from Energy Secretary Granholm and others, and social media promotion that didn't occur with the announcement. LNG is a tricky topic for the Biden administration as some environmentalists press officials to curtail fossil fuel exports.”
New York Times: Largest Federal Utility Chooses Gas, Undermining Biden’s Climate Goals
Lisa Friedman, 3/18/22
“The nation’s largest federally owned utility plans to invest more than $3.5 billion in new gas-burning electric plants, despite President Biden’s commitment to swiftly move away from fossil fuels and eliminate greenhouse gases from the power sector in a little more than a decade,” the New York Times reports. “The Tennessee Valley Authority, which provides electricity to nearly 10 million people across the Southeast, is replacing aging power plants that run on coal, the dirtiest fossil fuel. But critics say substituting gas for coal would lock in decades of additional carbon dioxide emissions that are heating the planet and could be avoided by generating more electricity from solar, wind or another renewable source. It marks the second time in recent months that a federal entity has clashed with Mr. Biden’s climate agenda. The United States Postal Service is replacing 165,000 aging mail trucks with mostly gasoline-powered vehicles, despite the desire of the White House and leading Democrats to convert the fleet to all-electric vehicles. It raises the question of whether President Franklin D. Roosevelt’s grand 20th-century experiment with electrification can adapt to a 21st-century climate crisis that requires a radical rethinking of energy production… “Although the average cost of generating electricity from wind and solar sources is now lower than from fossil fuels in the U.S., the T.V.A. said that it would be more expensive to tap solar energy for its needs… “The T.V.A. plans to add about 5,000 megawatts of new gas capacity — enough to power nearly 3 million homes. It is currently the third largest provider of electricity in the United States.”
Politico: GOP PROBES CLEMENTS’ ALLEGED CONFLICT OF INTEREST
Matthew Choi, Josh Siegel, 3/18/22
“Two GOP lawmakers are investigating a potential conflict of interest involving FERC Commissioner Allison Clements,” Politico reports. “In a letter first reported by E&E News, Reps. James Comer (R-Ky.), ranking member of the House Committee on Oversight and Reform, and Ralph Norman (R-S.C.), ranking member on the subcommittee for the environment, accused Clements of a “failure to identify [her] connection with the green industry,” which they say is “troubling.” Clements allegedly failed to disclose that her husband was hired by solar company Sol Systems at the end of last year. Her spouse previously worked at independent power producer Sustainable Power Group, which Clements disclosed to the Office of Government Ethics in 2020. She pledged at the time not to participate in any proceeding that could have a direct impact on his compensation or employment. But she did not disclose his latest job change, according to the letter. “This lack of transparency is particularly troubling given recent efforts by FERC to block natural gas pipelines—making the United States more dependent on Russian energy,” Comer and Norman wrote.”
STATE UPDATES
Carlsbad Current-Argus: Oil and gas companies face $275K in fines for not reporting methane pollution in New Mexico
Adrian Hedden, 3/17/22
“Five New Mexico oil and gas operators were fined a total of $275,000 after failing to report methane emissions as required by state law,” the Carlsbad Current-Argus reports. “The operators, all headquartered in Midland, were cited by the State’s Oil Conservation Division (OCD) and issued $55,000 in civil penalties each. They each allegedly did not produce quarterly methane emissions reports as were required in the OCD’s recently enacted emissions regulations. The rules activated last spring increased reporting requirements for operators throughout New Mexico and targeted an industry-wide gas capture rate of 98 percent by 2026, a move intended to reduce air pollution in New Mexico after oil and gas was found to be the leading emitter of greenhouse gas in the state. In total, about 530.5 million cubic feet went unreported by the five operators, per OCD records, as of March 9.”
EXTRACTION
Washington Post: Clean energy superstar or smokescreen for fossil fuel use? Here’s what you need to know about hydrogen.
Tik Root, 3/17/22
“Hydrogen, the lightest and most abundant gas in the universe, is increasingly being used as a fuel. The gas releases relatively few planet-warming emissions as a fuel source, and proponents say it could be key in the fight to curb climate change. Yet others warn that using hydrogen as fuel could do the opposite,” the Washington Post reports. “The Clean Hydrogen Future Coalition website calls it an “Energy Superstar,” and the International Energy Agency (IEA) calculated that demand for hydrogen has more than tripled since 1975… “But some urge caution, noting that almost all the hydrogen currently produced is derived from fossil fuels, especially natural gas. And a study published last year found that, if those embodied emissions are considered, purportedly “clean,” hydrogen can have a greater climate impact than natural gas or oil. “The environmental benefits of hydrogen are hotly debated right now,” Johanna Neumann, senior director of the Campaign for 100% Renewable Energy at Environment America, told the Post… “The bipartisan infrastructure bill that Congress passed last fall included $9.5 billion for the development of hydrogen. The bulk of that money — $8 billion — is aimed at developing four regional production hubs across the country for clean hydrogen… “The Clean Hydrogen Future Coalition was “extremely supportive” of the congressional investment. The group’s board includes companies such as Shell, BP and Chevron, as well as the American Gas Association trade group, among others… “Yet others, including members of Congress, see widespread use of hydrogen as a potential climate threat… “Environmental advocacy organizations such as the Sierra Club and the NRDC have also stressed a measured approach to hydrogen. So have some scientists. “Blue hydrogen is basically a smokescreen for more air pollution, mining [and] fossil fuel use with hardly any carbon dioxide benefits,” Jacobson told the Post. “We should only use green hydrogen, and it should only be used for certain applications.”
Energy Monitor: The enduring threat to the Arctic from Big Oil
Nick Ferris, 3/21/22
“In 2008, the US Geological Survey (USGS) announced that an estimated 13% of the world’s undiscovered oil and 30% of undiscovered gas lay to the north of the Arctic Circle,” Energy Monitor reports. “This was also the year Big Oil’s influence was at its zenith: the oil price peaked at a July 2008 high of $147 per barrel, while ExxonMobil, then the world’s most valuable company, reported profits of $45bn. Oil and gas in the Arctic was seen as ripe for extraction, “the largest unexplored prospective area for petroleum remaining on earth”, said USGS’s Donald L Gautier, while US magazine Vanity Fair predicted a new “Arctic Oil Rush”. As is so often the case with energy markets, few predicted what happened next. Oil prices sank 80% over the following six months as the world grappled with the global financial crisis. They fluctuated between $80 and $120 from 2010 to 2014, before dropping to under $40 a barrel as US shale production, not Arctic oil, boomed. April 2020 saw the oil price crash to a low of $18 a barrel as global demand plummeted during the Covid-19 pandemic. However, the ongoing energy crisis, and Russia’s invasion of Ukraine, have seen oil prices soar, which means mothballed projects risk being seen as viable once again. Already, there has been a resurgence of oil production in markets such as Brazil. Could we see a return to those heady days of 2008 when the Arctic was the next frontier?”
AZO: New Technique Results in Cheaper, More Efficient Carbon Capture
Bethan Davies, 3/17/22
“Scientists at the University of Colorado Boulder have discovered a new device that could contribute to more efficient and cheaper methods of extracting heat-trapping gases from the environment and transforming them into useful substances such as fuel or construction materials,” AZO reports. “...The approach forecasts the strength of the link between carbon dioxide and the molecule that retains it, referred to as a binder. This electrochemical diagnosis can be implemented to any molecule that is chemically prone to interact with carbon dioxide, permitting scientists to explore potential molecular candidates for capturing CO2 from ordinary air. The Holy Grail, if you will, is to try to inch toward being able to use binders that can grab carbon dioxide from the air [around us], not just concentrated sources… “However, despite the fact that it has been in operation in the United States since the 1970s, it only catches and stores 0.1% of global carbon emissions each year… “Globally, current industrial facilities depend on extracting carbon dioxide from a concentrated source, such as power plant emissions. While these technologies may swiftly and effectively bind a significant amount of carbon dioxide using vast volumes of particular chemical binders, they are also extremely energy-intensive… “Alternatively, using electrochemical technologies, such as those described in the new CU Boulder-led study, carbon capture systems would be untethered from concentrated sources, permitting them to operate practically anywhere.”
CLIMATE FINANCE
Politico: SWISS RE DROPS POLLUTER INSURANCE:
Matthew Choi, Josh Siegel, 3/18/22
“One of the world’s largest reinsurers Swiss Re released an update on its oil and gas policy and it puts the industry on notice,” Politico reports. “The company will no longer sell policies for or invest in new field projects that start after this year, unless the parent companies are credibly aligned with net zero emissions by 2050. Further, companies that don’t sign up to that goal backed by the Science-Based Targets Initiative will be phased out of Swiss Re’s portfolio completely by 2030. Act now: In the nearer term, from July 2023 the company won’t cover “oil and gas companies that are responsible for the world’s 10% most carbon-intensive oil and gas production.” “...Green groups are delighted: Global Coordinator of Insure Our Future Peter Bosshard told Politico: “Swiss Re is one of the world's ultimate risk managers and the policy which it published today sends a strong message to fossil fuel companies, investors and governments: oil and gas operations need to be phased out in accordance with climate science or they may become uninsurable by the end of the decade.”
Bloomberg: Wells Fargo’s $28 Billion Oil Lenders Are Ready for This Boom
Max Abelson and Hannah Levitt, 3/21/22
“One year after Wells Fargo & Co. became one of the last big U.S. banks to make a net-zero promise, essentially marking its enormous oil and gas loan business for extinction, the bankers who dole out billions of dollars to fossil fuel aren’t panicking,” Bloomberg reports. “The specialists in oil and gas have worked through a streak of money-burning years capped by a brutal pandemic. Now the hydrocarbon business is roaring back, and Wells Fargo’s lenders sit right at the top. No one in the world put together more fossil fuel loans last year as bookrunner, according to data Bloomberg compiled: The bank’s 2021 tally in the sector topped $28 billion; it’s racked up more than $188 billion in oil and gas loans since late 2015, when the landmark Paris Agreement was adopted. That sum is more than the market capitalization of BP, Marathon Petroleum, and Valero Energy—combined… “But Wells bankers are playing the long game. “There’s this idea or dynamic that it’s a light switch,” Scott Warrender, who runs the energy and power team, told Bloomberg. The green revolution? “Our view — and in reality — it will play out over a much longer time frame.” Wells executives won’t stop making hydrocarbon loans when the rest of us are consuming so much of it, according to interviews with 10 current and former people there. Few veterans of this business are quite sure where it goes from here. Their attitude toward the crisis of climate change veers between pragmatism and, in the case of one former executive, disdain.”
TODAY IN GREENWASHING
Gettysburg Times: Enbridge event sponsor for ACAC’s annual golf tourney
3/20/22
“North American energy delivery company, Enbridge, will be the premiere event sponsor for the Adams County Arts Council’s (ACAC) seventh annual Tee it Up Fore the Arts golf tournament, scheduled for Thursday, April 28, at The Links at Gettysburg, according to an ACAC release,” the Gettysburg Times reports. “We are so grateful when corporations like Enbridge recognize the importance of the work we do and give back to the community through programs like their Fueling Futures grant,” said ACAC Executive Director Leona Rega. "Enbridge is proud to support the work done by the Adams County Arts Council in making the arts accessible to so many in the community,” said Max Bergeron, Enbridge’s manager of stakeholder relations.
OPINION
The McGill Daily: Support Divest McGill: Divest organizes longest occupation in McGill History
by Editorial Board, 3/21/22
“On the morning of March 7, members of Divest McGill began an occupation of the McCall MacBain Arts Building, marking the start of the longest occupation in McGill history,” The McGill Daily Editorial Board writes. “Some students pitched tents in the lobby of the building, where they’ve been sleeping each night since the occupation began… “Divest McGill is a student-run environmental and social justice campaign “calling on McGill University to acknowledge and address the urgency of the climate crisis by withdrawing the direct (segregated) investments of its endowment fund from the fossil fuel industry.” “...#OccupyMcGill is a culmination of these efforts and a milestone in the Divest campaign. A specific goal of the occupation is democratizing McGill’s Board of Governors, which is made up of senior executives from the Bank of Montreal (BMO), the Power Corporation of Canada, the National Bank of Canada, Metro Inc., HSBC Bank Canada, and Redbourne Properties Inc. The current Board is controlled by and “serves capitalist, white supremacist, settler-colonial and imperialist structures of power,” per Divest. The movement has attracted widespread support from McGill students and staff – but administration has made efforts to suppress student activism, often putting the safety of students at risk… “Support Divest McGill and the #OccupyMcGill campaign by following the organization on social media, reading and sharing its publications, and attending #OccupyMcGill events in the Arts Building. Sign the Divest McGill change.org petition “in solidarity with the Wet’suwet’en and a call for McGill University to immediately divest from TC Energy Corporation.”