ExxonMobil chief urges Trump not to pull out of Paris climate agreement
A surprising business leader is urging President-elect Donald Trump not to withdraw from the Paris Climate Agreement for a second time. ExxonMobil CEO Darren Woods made the comments about the Paris agreement in interviews Tuesday, Nov. 12, at the United Nations Climate Change Conference in Azerbaijan.
“I don’t think the stops and starts are the right thing for businesses,” Woods told The Wall Street Journal. “It is extremely inefficient. It creates a lot of uncertainty.”
The U.S. adopted the Paris Climate Agreement in 2015 under President Barack Obama. When Trump took office the first time around, he pulled the U.S. from the landmark accord.
When President Joe Biden took office, the U.S. was back in. And now, the Trump campaign has said Trump would repeat the removal.
“We will drill, baby, drill,” Trump said at the Republican National Convention, repeating his oft-uttered energy cry.
“I’m not sure how ‘drill baby drill’ translates into policy,” Woods told CNBC before the election.
Since 2018, the U.S. has led the world every year in crude oil production, according to data from the U.S. Energy Information Administration. Under Trump, the U.S. set the global record for oil production in 2019. Under Biden, the U.S. broke it for a new record high in 2023.
“From our perspective, we don’t set our business plans based on the political agendas or who’s in the White House or what party’s in control,” Woods said in Azerbaijan. “We look at the fundamentals and making sure that the investments that we’re making are advantage versus the rest of industry. We’ll be resilient in the bottom of the cycle, and then we make these plans and commit to that. We don’t kind of turn those on and off depending on who’s in office.”
The oil industry is somewhat at odds with this “drill at all costs” mentality. For one, restricting oil supply keeps prices higher. Second, support for cutting carbon emissions comes with an obvious advantage: a taxpayer-funded advantage.
“We’re bringing the advantages that we have as a company and the skills and capabilities to lower the cost of doing these. But ultimately, there needs to be an incentive to reward those investments and generate a return,” Woods explained when it comes to investments in carbon capture and green energy solutions. “And if we find that those incentives dissipate or go away entirely, then that would definitely change our investment plans. But I think the point we’re trying to make is the world needs to have a long-term approach to reducing emissions, that you can do it in a very cost-effective way. You need consistency of approach and policy. And so we’re here talking about what some of those approaches could be to help solve those problems.”
Despite support for the Paris Climate Agreement, the Carbon Tracker Initiative says oil companies are way off track. ExxonMobil is in the bottom five with a G rating on a scale from A-H. BP tops the list with a D.
“Companies worldwide are publicly stating they are supportive of the goals of the Paris-Agreement, and claim to be part of the solution in accelerating the energy transition,” oil and gas analyst and report author Maeve O’Connor wrote. “Unfortunately, however, we see that none are currently aligned with the goals of the Paris Agreement…”
The Paris Agreement is a legally binding international treaty on climate change. Its overarching goal is to limit the global temperature rise “to well below 2 degrees Celsius” from the year 1900, and pursue 1.5 degrees Celsius, which is about 2.7 degrees Fahrenheit.
Fossil fuel groups accused of trying to covertly derail Ohio solar project
A recent investigation by ProPublica looked into allegations that fossil fuel interests are working to derail a proposed solar energy project in Knox County, Ohio. The investigation suggests that oil and gas companies covertly influenced local opinions by using media outlets and interest groups to spread misinformation.
The Frasier Solar development, which aims to power around 19,000 homes, has faced claims from these reportedly Big Oil-influenced sources that solar panels can depress property values, are toxic, and may be used by China for a potential invasion.
The solar project would cover the equivalent of 635 football fields of farmland with solar panels, although officials have noted that the land could be restored to agricultural use after 40 years.
ProPublica’s report details how fossil fuel interests allegedly worked to exacerbate existing concerns about solar’s impact on farming in Knox County, where agriculture dominates the economy, accounting for nearly 60% of the area’s land use.
Additionally, the Ariel Corporation, a manufacturer of gas equipment, is the area’s largest employer, and has been accused of supporting efforts to kill Frasier Solar.
ProPublica alleges that these efforts extended to local media ownership.
The only newspaper in the region, the Mount Vernon News, was acquired by Metric Media, a company linked to conservative causes and funded by a dark-money group associated with the Koch brothers, who have longstanding ties to the fossil fuel industry.
Following the purchase, the paper shifted from a daily publication to a weekly format, with some residents noting an increase in anti-solar sentiment in its coverage and attacks on local elected officials who did not denounce the renewable energy project.
Metric Media also launched the Ohio EnergyReporter, which reprinted articles from the Mount Vernon News and featured stories warning of potential negative consequences of solar power, with headlines including “Ohio’s coming ‘solar trash wave’” and “Could the Texas Power Crisis happen in Ohio?”
Beyond media influence, the investigation claims that oil and gas interests also intervened in local politics. ProPublica reports that fossil fuel-backed groups supported county commission candidates who opposed the Frasier Solar project, amplifying their platforms through a political action committee connected to pro-gas campaigns.
Additionally, a former executive of Ariel Corporation, who still has ties to the company, founded an organization that presents itself as a “grassroots” defender of the county. This group has been active in opposing the solar project, using mass texts and organizing events to rally public resistance, with funding and support from current and former employees of Ariel.
The controversy culminated in an August hearing by the Ohio Power Siting Board, which will decide whether the Frasier Solar project can proceed. During the meeting, evidence was presented by both supporters and opponents, revealing fossil fuel industry involvement in the campaign against the solar development. The board’s final decision is expected to take several months.
Harris, Trump field questions during town halls as Election Day nears
With less than three weeks until the presidential election, the candidates are blitzing battleground states and the airwaves with town halls. And in a possible blow to small businesses hoping to rebuild after Hurricanes Helene and Milton, one federal agency is running out of money. These stories and more highlight your Unbiased Updates for Wednesday, Oct. 16, 2024.
Harris, Trump field questions during town halls as Election Day nears
With less than three weeks to go until Election Day, the candidates fielded questions on Tuesday, Oct. 15, in two different town hall settings.
Democratic nominee Vice President Kamala Harris took part in a town hall in Detroit hosted by radio personality Charlamagne tha God as she looks to reach Black voters. During the town hall, the vice president said she believes slavery reparations should be studied.
Harris said while she is running for “president for everyone” she is “clear-eyed about the history and the disparities that exist for specific communities.”
The vice president also urged Black Americans not to sit out on Election Day.
Vice President Harris: Ask Donald Trump what his plan is for Black America. I'll tell you what it is. Project 2025 wants to implement stop-and-frisk. It wants to make it more difficult for workers to receive overtime pay. He wants to terminate the Constitution, which includes… pic.twitter.com/ZAQNgRkRyq
“The solutions that we all want are not going to happen in totality because of one election but here’s the thing: the things that we want and are prepared to fight for won’t happen if we’re not active and if we don’t participate,” she said. “We cannot allow circumstances to take us out the game because then basically what we’re saying is all those people who are obstructionist, who are standing in the way of change, they’re winning because they are convincing people that it can’t be done so take yourself out, don’t participate. Look at that circle, look at that vicious circle, then so let’s not fall for it.”
Meanwhile, Republican nominee former President Donald Trump participated in a Fox News town hall in Georgia moderated by host Harris Faulkner.
The town hall had an all-female audience, with the women posing questions to Trump on issues such as the economy, immigration, and abortion. According to reports of the event, which will air later Wednesday, Oct. 16 on Fox News, Trump said some states are “too tough” when it comes to restrictions on abortion and those laws “are going to be redone.”
“The African American community and the Hispanic community are being devastated with the jobs, the numbers are down 6, 7, 8, 9%. They are going to work, and they’re saying, ‘I’m sorry, we’re not going to take you any more.’ People that have worked there and worked there well for years are now being told that they no longer have a job because they have illegal immigrants coming in and taking their job,” Trump said. “Any African American or Hispanic, and you know how well I’m doing there, that votes for Kamala, you got to have your head examined, because they are really screwing you.”
Early voting begins in Georgia with record turnout
Early voting has begun in the battleground state of Georgia and it’s already seeing a record turnout. Voting for the Nov. 5 presidential election started Tuesday and by the late afternoon, at least 252,000 voters had already cast ballots at early voting sites.
That’s nearly double the 136,000 who voted on the first day of early voting in the 2020 election, according to a top Georgia election official.
Also Tuesday, a judge blocked a new rule requiring Georgia Election Day ballots to be counted by hand after the close of voting. That ruling came just a day after the same judge ruled county election officials must certify election results by the deadline set in law.
Small Business Administration runs out of disaster relief funding
The Small Business administration has run out of funding for its disaster assistance loans right after the one-two punch of Hurricanes Helene and Milton. That means much-needed financial assistance will be delayed for people applying for help right now.
After a disaster, the SBA provides loans to businesses and people who need them. The organization had warned it expected to run out of money by the end of the month.
Congress can approve more funding, but lawmakers are not set to reconvene until Nov. 12. The SBA administrator said in the meantime, people that need them should keep applying for the loans.
HURRICANE #MILTON SURVIVORS: Business owners and residents in declared disaster areas can now apply for SBA assistance.
Israel strikes Beirut despite U.S. opposition; vows to avoid nuclear sites in Iran
At least one Israeli air strike rocked a Beirut, Lebanon suburb early Wednesday morning, killing at least 15 people according to the Associated Press. The strike came just hours after a State Department spokesperson said the U.S. told its key ally it opposed the bombing campaign there in recent weeks.
On Tuesday, the United Nations’ Human Rights Office called for an investigation into an Israeli air strike that happened on Monday which killed at least 21 people in northern Lebanon, saying it posed “real concerns” because it may have violated international laws governing war.
This comes as a Biden administration official said Israel has assured the U.S. it will not hit nuclear or oil sites when it retaliates against Iran for its missile barrage earlier this month.
However, that does not mean Israel will keep its word. In the past, the country’s track record of sticking to what it tells the U.S. has been mixed.
Just last month, U.S. officials were told by their Israeli counterparts Prime Minister Benjamin Netanyahu would welcome a U.S.- and French-led temporary cease-fire initiative in Lebanon, only for Israel to launch a massive airstrike that killed a Hezbollah leader two days later.
Johnson & Johnson ordered to pay $15M in baby powder cancer case
A jury has ordered Johnson & Johnson to pay $15 million to a Connecticut man who says he developed a rare form of cancer after using the company’s baby powder for decades. The man says he contracted mesothelioma from inhaling the talc powder.
The jury also said Johnson & Johnson should pay additional punitive damages, which will be determined later by the judge overseeing the case.
After the ruling, Johnson & Johnson’s vice president of litigation said the company will be appealing the decision, saying “erroneous” rulings by the judge kept the jury from hearing critical facts about the case.
Tom Brady approved to become minority owner of Raiders
Tom Brady has been called many names: the GOAT, Super Bowl champion, and NFL commentator, to name a few. Now, he can add team owner to that list.
On Tuesday, NFL team owners voted to approve Brady’s purchase of a minority stake in the Las Vegas Raiders. The former NFL quarterback said in a statement he is eager to contribute to the Raiders organization in any way.
Because of his new title, Brady faces some restrictions in his other role as a Fox broadcaster, including being barred from weekly production meetings with the players and coaches in the games he will cover.
Netanyahu plans strike on Iran, targeting military sites, not nuclear or oil
Israeli Prime Minister Benjamin Netanyahu has informed the Biden administration of plans to carry out a military strike on Iran, focusing on military infrastructure rather than oil or nuclear facilities, according to officials familiar with the discussions. The move comes amid heightened tensions between Israel and Iran, and is seen as a calculated effort to avoid triggering a larger regional conflict ahead of the U.S. presidential election.
The Washington Post reports the planned strike follows Iran’s second missile barrage on Israel in six months. During a recent phone call, Netanyahu outlined his approach to U.S. President Joe Biden, emphasizing a targeted response against Iranian military assets.
This approach aligns with Washington’s preference for restraint, as Biden has publicly opposed strikes on Iran’s nuclear facilities, fearing they could escalate tensions further.
In response to Israel’s planned actions, the U.S. announced the deployment of the Terminal High Altitude Area Defense (THAAD) missile defense system to Israel.
The Pentagon confirmed the arrival of U.S. personnel and initial components of the system, with more expected to follow in the coming days.
Israel intends to carry out the strike before the U.S. elections on Nov. 5 to avoid any perception of hesitation. However, some Israeli officials are skeptical that targeting military sites will be enough to deter Iran from future attacks or slow its nuclear progress.
Former Prime Minister Naftali Bennett and other Israeli figures have called for a more direct approach, pushing for strikes on Iran’s nuclear facilities.
Despite pressure for a stronger response, Netanyahu has stressed the importance of strategic patience, particularly as Israel is already engaged in multiple conflicts, including military operations in Lebanon and Gaza.
Thousands of Israeli troops have recently entered Lebanon, and the military has ramped up its offensive against Hamas in Gaza. Netanyahu’s government has signaled patience in dealing with Iran, possibly delaying a strike until operations in Lebanon and Gaza are completed.
The escalating tensions between Israel and Iran also come after Tehran fired nearly 200 ballistic missiles at Israel in early October. The attack killed a Palestinian man in the West Bank and hit two Israeli military installations. Iran’s ambassador to the U.N. said the strike was intended to “restore balance and deterrence” following Israeli operations against Iranian targets.
Biden admin sanctions Iran’s oil sector as response to Oct. 1 attack on Israel
The Biden administration announced new sanctions against Iran’s oil and petrochemical sectors as a response to the Oct. 1 attack when Iran fired approximately 200 missiles into Israel. The sanctions largely target what’s called Iran’s “ghost fleet” of ships which illegally transport oil to buyers in Asia.
“Today’s sanctions target Iranian efforts to channel revenues from its energy industry to finance deadly and disruptive activity—including development of its nuclear program, the proliferation of ballistic missiles and unmanned aerial vehicles, and support to regional terrorist proxies,” Treasury Secretary Janet Yellen said in a statement.
In total, the sanctions designate 17 vessels as “blocked property” which means the assets under U.S. jurisdiction are frozen but not seized.
The ships are owned by companies mostly in the Middle East and Asia including the United Arab Emirates, China, Malaysia and one in Liberia. The sanctions also target 10 companies which, according to Treasury, knowingly engaged in the transport, sale or marketing of Iranian petroleum and petrochemical products.
“The United States is committed to curtailing Iran’s sources of revenue for its malign activities,” Secretary of State Antony Blinken said in a statement. “As long as Iran devotes its energy revenues to funding attacks on our allies, supporting terrorism around the world, and pursuing other destabilizing actions, we will continue to use all the tools at our disposal to hold it accountable.”
Iran’s attack on Israel is also impacting the broader oil market. Brent Crude, the international benchmark for oil, has increased about 15% since the attack. That’s impacting the price of gas here in America.
“The national average price of gasoline has returned to a slight climb over the last week as Iran’s attack on Israel has slowly funneled to the gas pump, as expected,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
De Haan projected a decline in gas prices over the next few weeks and said there’s a ‘good chance’ the national average could dip below $3 per gallon for the first time since 2021.
For context, the current price for a barrel of the benchmark West Texas Intermediate crude is $74.11 and the national average for a gallon of gas is $3.16. The last time the national average was below $3 in May 2021, WTI cost $63.87 per barrel. On the flip side, if a barrel of crude went up to $100, the price for a gallon of gas could reach $4 or more.
At least 15 dead, 2.6 million without power after Hurricane Milton
The death toll from Hurricane Milton rises as millions are left without power in the storm’s aftermath. And one person is killed and 12 others rescued after a disaster during a tour of a Colorado mine. These stories and more highlight your Unbiased Updates for Friday, Oct. 11, 2024.
At least 8 dead, 2.6 million without power after Hurricane Milton
At least 15 people are dead (that number has risen since Unbiased Updates was recorded Friday morning, Oct. 11), and 2.6 million homes and businesses remain without power as Florida begins to pick up the pieces after Hurricane Milton roared across the state. It was the second devastating storm to batter the Sunshine State in less than two weeks.
Now a post-tropical cyclone, Milton is expected to continue to weaken over the next few days.
While Milton made landfall on Florida’s west coast near Sarasota, most of the deaths reported have been in the eastern part of the state, where dozens of tornadoes have been reported. While the storm did not prove to be the worst-case scenario, rescuers have been very busy pulling and dragging hundreds of people from flooded areas to safety.
Florida Gov. Ron DeSantis and President Joe Biden have both said in this case, warnings came early and often, spurring tens of thousands of people to evacuate and saving countless lives.
Still, the cleanup and recovery processes are expected to take weeks, if not months — especially in the areas that were also hit by Hurricane Helene just 13 days before Milton barreled in.
1 dead, 12 rescued after elevator malfunction at Colorado gold mine
In Colorado, 12 people are now safe after getting trapped at the bottom of a gold mine for six hours Thursday, Oct. 10. One person died after the elevator at the Mollie Kathleen Mine, a popular tourist attraction, experienced a mechanical problem 500 feet below the earth’s surface.
The 12 adults had access to water and were able to communicate with authorities via radio while trapped. As that group was stuck, rescuers were able to get to 11 other people who were riding the elevator and get them to safety.
The local sheriff said it is not yet known what caused the malfunction. An investigation is underway.
The incident happened during the final week of Mollie Kathleen Gold Mine‘s tourist season before it shuts down for the winter.
Chemical leak at Houston oil refinery kills 2, injures dozens more
Two people are dead and 35 more are injured after a chemical leak involving hydrogen sulfide, a potentially toxic gas, at an oil refinery in Deer Park, Texas — near Houston. Officials said a group was working on a flange Thursday when some kind of accident happened, and gas started leaking.
Emergency officials urged residents in the area to shelter in place after the incident, but this morning, that’s since been lifted after air monitoring showed no signs hazardous chemicals had gotten into the air.
Trump talks economic plan in Detroit; Obama rallies for Harris in PA
With just 25 days until Americans head to the polls, voters in two battleground states heard from two former presidents on Thursday. Republican nominee former President Donald Trump spoke to supporters in Detroit, Michigan while former President Barack Obama – stumped for Democratic nominee Vice President Kamala Harris in Pittsburgh, Pennsylvania.
While delivering his economic address to the Detroit Economic Club, Trump spoke about his goal to revive the auto industry and bring a “rebirth” to Detroit. He then turned to international companies and his plan for them to open facilities in America.
“So, here is the deal that I will be offering to the world to companies outside of our world — big companies, powerful companies that have become powerful because we were stupid, we were stupid, we allowed them to come and raid and rape our country,” Trump said. “That’s what they did. ‘Oh, he used the word rape.’ That’s right, I used the word. They raped our country. The United States will give you the lowest taxes, the lowest energy cost, we have more liquid gold under our feet than any other country in the world and it’s the best…But only if you make your products here in America. In other words, you get all of these assets, but you have to make your product here in America and you have to hire American workers.”
“Kamala is as prepared for the job as any nominee for president has ever been,” Obama said. “That’s who Kamala is.”
He added, “I’m sorry gentlemen; I’ve noticed this especially with some men who seem to think Trump’s behavior of bullying and of putting people down is a sign of strength. I am here to tell you, that is not what real strength is. Real strength is about working hard and carrying a heavy load without complaining and telling the truth even when it’s inconvenient. Real strength is about helping people who need it and standing up for those who can’t always stand up for themselves. That is what we should want for our daughters and for our sons and that is what I want to see in a president for the United States of America.”
Hezbollah official escapes during deadly Israeli strikes in Lebanon
Lebanese authorities say Israeli airstrikes targeting Hezbollah in Beirut killed 22 people and injured 117 others. Sources told Reuters a senior Hezbollah official, targeted by Israeli forces during the Thursday night strikes, was able to survive.
Israel has not commented on the attack.
The United Nations said its personnel is facing increasing danger in Lebanon as two U.N. peacekeepers were injured after an Israeli tank fired at a watchtower at its main headquarters in the southern portion of the country. Israel issued a statement on that incident, saying its military operated “next to” the U.N.’s base and had instructed U.N. officials to remain in protected spaces before its troops opened fire.
Hezbollah operates from within and near civilian areas in southern Lebanon, including areas near @UNIFIL_ posts.
The IDF is operating in southern Lebanon and maintains routine communication with UNIFIL.
IDF troops operated in the area of Naqoura, next to a UNIFIL base.…
The peacekeepers were said to be in good condition after being treated for their injuries.
Sports leagues come together to combat hate in America
In a sign of true sportsmanship, eight American sports leagues have come together to back a new campaign targeting hate in the U.S. It is an idea from New England Patriots owner Robert Kraft and his foundation to combat antisemitism.
The initiative brought together the heads of the NFL, NBA, MLB, NHK, NASCAR and others to come up with plans to curb hate of any kind in the country. The sports leaders are spending $50 million to get the word out.
The campaign, titled “Timeout Against Hate,” launched during Thursday night football on Oct. 10, with a commercial featuring legendary figures and current-day athletes from all sports speaking out against hate.
Biden says US ‘discussing’ possible Israeli strike on Iran oil, markets react
President Joe Biden said the United States is discussing potential Israeli strikes on Iran’s oil facilities. Soon after his comments, oil markets reacted, with crude oil prices spiking 5%, the largest one-day increase since the start of the Israel-Hamas war.
Biden made these remarks in response to a reporter’s question outside the White House on Thursday, Oct. 3, asking if he would support Israel striking Iran’s oil facilities.
“We’re in discussions about that,” Biden said. “I think that would be a little… anyway…”
Iran reacted to the possibility of retaliatory strikes with a warning from its mission at the United Nations on Thursday. The country cautioned that any nation assisting Israel would be deemed “an accomplice” and a “legitimate target,” advising the U.S. and others to stay out of the conflict.
“Should any country render assistance to the aggressor, it shall likewise be deemed an accomplice and a legitimate target,” Iran’s mission said. “We advise countries to refrain from entangling themselves in the conflict between the Israeli regime and Iran and to distance themselves from the fray.”
The swift reaction from oil markets on Thursday indicated that investors are on edge, considering the implications of a broader conflict, particularly the potential disruption to the Straits of Hormuz, one of the world’s most crucial maritime passages for oil and liquefied natural gas.
The situation escalated earlier this week when Iran launched around 180 ballistic missiles at Israel, calling it retaliation for the deaths of Hamas and Hezbollah leaders. In response, Israeli Prime Minister Benjamin Netanyahu vowed that Iran “will pay a heavy price” for its actions.
Activists throw soup at Van Gogh painting again; other protesters jailed
Climate activists threw soup over Vincent Van Gogh’s “Sunflowers” painting again in London on Friday, Sept. 27. Three protesters from Just Stop Oil tossed the tomato soup over Sunflowers 1889 and Sunflowers 1888.
It happened an hour after two others were sentenced to prison time for a similar protest with one of the Sunflower paintings in 2022. Phoebe Plummer was sentenced to two years in prison. Anna Holland received 20 months in prison. Plummer got additional time for protesting in the road.
Just Stop Oil has been pushing back on the U.K. government’s plans to grant new licenses for fossil fuel production.
Supporters of the group say the Sunflower paintings were covered with glass and the art is being valued more than human life.
In June 2024, Just Stop Oil protesters spray painted the famous Stonehenge monument, covering some of the structure with orange marks. Turns out, the group used orange corn flour and it washed away without damage.
Texas AG sues Biden admin over dunes sagebrush lizard’s endangered status
Texas Attorney General Ken Paxton has filed a lawsuit against the Biden administration, alleging that officials violated the Endangered Species Act by designating the dunes sagebrush lizard under it. Paxton claims the reptiles have been “unlawfully” classified as endangered, a move he says is designed to limit oil and gas development in Texas, where the lizard’s habitat overlaps with key energy production sites.
“The Biden-Harris administration’s unlawful misuse of environmental law is a backdoor attempt to undermine Texas’s oil and gas industries which help keep the lights on for America,” Paxton said in a statement. “I warned that we would sue over this illegal move, and now we will see them in court.”
The lawsuit targets the U.S. Fish and Wildlife Service (USFWS), the Department of the Interior, and other federal authorities. Paxton argues that Texas is already managing conservation efforts for the species at the state level, and that federal intervention leaves private landowners and businesses uncertain about what areas fall under protection.
“Because of this, the federal government’s action would unduly undermine vital economic development in the Permian Basin, subjecting Texas industries and private landowners to regulatory uncertainty and ambiguity about what they can do with their own land,” Paxton’s office said in a statement.
The federal government’s decision to list the lizard as endangered has also faced opposition from other Texas officials, with Sen. Ted Cruz introducing a bill in July to remove the species from the endangered list, though the effort failed.
The dunes sagebrush lizard, which has seen its habitat decline by nearly 50% since 1982, was officially listed as endangered in June. The USFWS states that this decline, accelerated by oil and gas activity, has left the species “functionally extinct” in 47% of its known habitat.
The species’ range sits atop one of the busiest oil fields in the U.S., and opening new wells in this region could reduce the lizard population by half within a 250-meter radius of drilling sites, according to federal data.
The USFWS, however, contends that horizontal drilling provides a way for companies to access oil and gas deposits without disturbing the lizard’s habitat. The agency highlighted that 100 oil and gas operators have also agreed to adopt conservation practices to minimize harm to endangered species in the region.
USFWS said in a statement: “Conservation efforts for imperiled species can be greatly expanded through collaborative approaches that foster cooperation and the exchange of ideas among stakeholders.”
The lawsuit comes as the federal government is still working to clarify which areas of Texas will be subject to the new endangered species protections. If the protections remain in place, oil and gas operators could face fines up to $50,000 for violations, and individuals could face criminal penalties and jail time for conducting activities in restricted areas.
BP to sell off US wind energy assets while prioritizing oil and gas investments
BP announced its decision to divest from its U.S.-based onshore wind turbine operations. The move signals a shift in strategy, with the company refocusing on its core business of oil and gas production, a pivot that comes amid changes in leadership and investor dissatisfaction with its previous emphasis on renewable energy.
Under BP’s new CEO Murray Auchincloss, the company is putting more emphasis on oil and gas operations in response to pressure from investors who have expressed concerns about the financial returns of its renewable energy ventures.
BP shares dropped around 23% from the company’s 12-month high in October 2023. In line with this revised approach, BP already paused the development of new wind power projects and prioritized investing in and even acquiring new oil and gas assets.
Currently, BP operates wind energy assets in seven U.S. states. Those projects generate approximately 1.7 gigawatts of electricity, which is enough to power over half a million homes. The company’s portfolio in this sector is valued at around $2 billion.
“BP Wind Energy’s assets are high-quality and grid-connected but are not aligned with our plans for growth,” William Lin, BP executive vice president for gas & low carbon energy, said. “So we believe the business is likely to be of greater value for another owner. This planned divestment is part of our strategy of continuing to simplify our portfolio.”
In a statement announcing the divestment from American onshore wind energy, BP said that it will integrate future renewable energy with its solar energy branch. The British oil and gas giant emphasized that clean energy remains an “important part” of its long-term strategy, but that through this move it aims to streamline operations and become a “higher value company.”