Big Oil

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Big Oil Is Weaponizing The First Amendment

For years, the fossil fuel industry has maintained that the First Amendment protects its right to mislead the public about the climate crisis, but that criticism and protest of its operations violates the law. Now, one of the industry’s preferred law firms — which has long been recognized for its defense of the First Amendment — is arguing both sides of this issue in court. 

https://www.levernews.com/big-oil-is-weaponizing-the-first-amendment/?

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Big Oil’s Plan To Criminalize Pipeline Protests

Fossil fuel companies and trade groups are using essential pipeline safety legislation to further criminalize pipeline protests.

https://www.levernews.com/big-oils-plan-to-criminalize-pipeline-protests/?

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🤠 Chevron goes to Texas

Illustration: Maura Losch/Axios

Chevron is relocating to Houston from its headquarters in San Ramon, Calif., the company announced yesterday. Why it matters: The move by the second-largest U.S. oil company marks another major California corporation relocating to Texas and further cements Houston's energy dominance, Axios Houston's Shafiq Patel writes. Chevron chairman and CEO Mike Wirth says the move is to be "closer to the core" and epicenter of the industry. California's regulations are a key reason for the relocation from the company's home base of over 140 years, Wirth said. Read the announcement.

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North Dakota’s Likely Next Governor Brushes Off Conflict Concerns, Says His Oil and Gas Ties Would Benefit the State

When Republican Kelly Armstrong filed his federal financial disclosure after being elected to Congress in 2018, he revealed his extensive ties to the oil and gas industry in his home state of North Dakota. It detailed his income from hundreds of oil wells and his financial relationship with two of the state’s largest oil producers.

https://www.propublica.org/article/north-dakota-governor-candidate-kelly-armstrong-oil-gas-ethics-conflict?

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🛢️ Big year for Big Oil

Data: Yahoo Finance. Chart: Axios Visuals Major energy companies doubled down on oil and gas in 2024, slowing down — and at times reversing — climate commitments, in a shift they're likely to stick with in 2025. Why it matters: Big European energy companies that invested heavily in the clean energy transition found their stocks lagging U.S. rivals Exxon and Chevron, which kept their focus on oil and gas, Reuters reports. 💰 So BP and Shell this year sharply slowed their plans to spend billions on wind and solar power projects and shifted spending to higher-margin oil and gas projects. 🔎 Between the lines: Axios' Andrew Freedman tells me from vacation that the big oil companies are focused on meeting customer demand and maximizing shareholder value. That has led them to focus more on their core fossil fuel businesses at a time of geopolitical strife. They haven't abandoned their forays into cleaner fuels, including through investments in climate tech companies. But some of their investments, including bets on hydrogen fuels, haven't panned out — reinforcing their pivot back to what they do best. 🌐 Reality check: Doubling down on fossil fuels complicates global efforts to meet the Paris climate targets, which the oil majors have committed to. The bottom line: Oil companies this year were profitable — but not as profitable as in recent record years, when there were higher oil prices.

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How Big Oil Hindered The Fight Against L.A.’s Wildfires

Fossil fuel companies are profiting off an obscure state tax break depriving California of up to $146 million of annual tax revenue that could be used to combat climate change-fueled wildfires, according to a new report released amid an inferno tearing through Los Angeles. The tax break has persisted for decades in the Democrat-controlled state even as California has faced deficits and cuts to wildfire preparedness — including recent cuts to the Los Angeles Fire Department’s budget.

https://www.levernews.com/how-big-oil-hindered-the-fight-against-l-a-s-wildfires/

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Big Oil Is Following Big Gun’s Playbook

Big Oil is reportedly lobbying Congress to grant their industry legal protection against a growing number of lawsuits that, if successful, could make oil and gas companies pay billions of dollars for deceiving the public about the dangers of fossil fuels. In the most extreme scenario, Big Oil could follow the example of an industry that won a near-blanket immunity from Congress two decades ago — gun manufacturers.

https://www.levernews.com/big-oil-is-following-big-guns-playbook/?

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Keystone Pipeline restarted after oil spill in rural North Dakota

BISMARCK, N.D. (AP) — The operator of the Keystone oil pipeline restarted the system Monday after a spill onto farmland in North Dakota last week shut down the line.

https://apnews.com/article/keystone-oil-pipeline-spill-north-dakota-bf42ea44e6420830e0a5c6f9b15c5154?