oil

Big Oil’s Climate Plans Don’t Come Close To Meeting The Paris Agreement

Big Oil’s Climate Plans Don’t Come Close To Meeting The Paris Agreement

Climate action plans are all the rage for polluting companies. Last month, Shell pledged to reach net-zero carbon emissions by 2050. It’s just the latest example: Other oil giants have recently made similar pledges as well. These pronouncements use pseudo-inspirational marketing speak, promising to “leverage” their “assets” to “reimagine” the…

Oil Companies Are Spending A Fortune To Store Unused Crude At Sea

Oil Companies Are Spending A Fortune To Store Unused Crude At Sea

From airlines flying ghost flights to simultaneous food shortages and overproduction, coronavirus is making the absurdity of how markets function very clear. Now, amid the collapse of the global oil market, traders are spending millions of dollars a day to store a record amount of unused crude oil on giant…