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U.S. banks remain the world's largest funders of fossil fuels

May 16, 2024
Banks have invested trillions of dollars since the Paris Agreement went into effect.
JPMorgan Chase was the number one fossil fuel financier in the world last year, according to the 15th Banking on Climate Chaos report.
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Sustainable jet fuel costs twice as much as fossil fuel. New federal subsidies aim to close that gap.

May 2, 2024
The Biden administration wants increase the use of sustainable aviation fuel around 180 fold by 2030.
Right now, the aviation industry uses about 16 million gallons of sustainable aviation fuel each year. The Biden administration is hoping to hit 3 billion gallons by 2030.
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Coal has increasingly been replaced by alternative fuel sources, like natural gas and renewables.
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UAE intended to use COP28 climate summit to push oil deals

Nov 27, 2023
Leaked documents obtained by the BBC show the United Arab Emirates, a major fossil fuel producer, was looking to strike oil deals at COP28.
New documents obtained by the BBC show that the United Arab Emirates planned do business deals involving oil and gas at COP28. Above, an oil drill pump in Dubai.
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More than 130 major companies press world leaders to phase out fossil fuels by 2035

Oct 24, 2023
Companies including Ikea, Nestle, Unilever and Volvo are saying that they're already grappling with the costs of the climate crisis.
Unilever is among the companies that signed on  to a recent letter ahead of COP28 urging world leaders to cut fossil fuel use.
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Are there signs of a slowdown for U.S. natural gas?

May 17, 2023
The number of U.S. rigs has dropped along with natural gas prices. Here's what that means for the "shale revolution."
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Big banks are succeeding at turning a profit, struggling to meet climate commitments

Apr 27, 2023
Two recent studies show the biggest banks are still not doing enough to meet the goals of the Paris Climate agreement.
If banks over-invest in fossil fuels, "They're going to suffer consequences in terms of profitability later on," said UC Santa Cruz professor Galina Hale.
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Energy security and access headline Houston conference

Access to energy when it's most needed seemed to be on everyone's mind at CERAWeek in Houston, research fellow Andy Uhler says.
Haitham Al Ghais, right, secretary general of OPEC, speaks with Carlos Pascual of  S&P Global Commodity Insights during the CERAWeek conference.
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War and oil profits mean more investment in fossil fuels — and green energy

Feb 24, 2023
Oil giants are going to invest in more oil while also preparing for a greener future, says The Economist's Vijay Vaitheeswaran.
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Fossil fuel demand could peak within a decade, the IEA predicts

Oct 28, 2022
Here's what that might mean for investment in fossil fuels and clean energy.
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