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The fast fall of PG&E after California’s wildfires is a jolt for companies considering the uncertain risks of a warming planet
For decades fossil fuel majors tried to fight the consensus – just as big tobacco once disputed that smoking kills.
On Sept. 10, 1969, six and a half miles south of Rulison, Colorado, a 40-kiloton nuclear bomb exploded in the subterranean depths of the Piceance Basin. The device, more than twice as powerful as the weapon at Hiroshima and with muscle equivalent to 40,000 tons of TNT, was an unorthodox tool in a grand experiment to free natural gas and kickstart a boom. The nuclear age wanted to give the oil and gas age a hand up.
The world’s five largest publicly traded oil companies are increasing their investments in oil and gas, putting a combined $110 billion in new fossil-fuel production. Meanwhile, those firms are projected to spend just $3.6 billion on low-carbon investments, such as biofuels and renewables, according to a new analysis that Influence Map
Here are the real reasons we’re not building clean energy anywhere near fast enough.
