The Little Hedge Fund Taking Down Big Oil

An activist investment firm won a shocking victory at Exxon Mobil. But can new directors really put the oil giant on a cleaner path?

#2021-climate-issue, #alternative-and-renewable-energy, #boards-of-directors, #carbon-capture-and-sequestration, #content-type-personal-profile, #engine-no-1-gp-llc, #exxon-mobil-corp, #global-warming, #greenhouse-gas-emissions, #hedge-funds, #hydrocarbons, #james-chris-hedge-fund-manager, #oil-petroleum-and-gasoline, #penner-charlie-1972, #shareholder-rights-and-activism

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Federal Judge Says Biden Cannot Pause New Leases for Drilling on Public Lands

President Biden suspended new oil and gas drilling leases on federal lands. A judge in Louisiana ruled those leases could not be temporarily halted.

#biden-joseph-r-jr, #decisions-and-verdicts, #executive-orders-and-memorandums, #federal-lands, #global-warming, #greenhouse-gas-emissions, #haaland-deb, #interior-department, #louisiana, #natural-gas, #oil-petroleum-and-gasoline, #states-us, #united-states-politics-and-government

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Biden Must Stop the Line 3 Pipeline in Minnesota

The fight over the pipeline will be, at least for now, where Biden’s climate commitment will be judged.

#alberta-canada, #army-corps-of-engineers, #boston-mass, #canada, #customs-and-border-protection-us, #demonstrations-protests-and-riots, #enbridge-inc, #global-warming, #greenhouse-gas-emissions, #indigenous-people, #keystone-pipeline-system, #minnesota, #mississippi-river, #oil-petroleum-and-gasoline, #oregon, #pipelines, #superior-wis, #united-nations-framework-convention-on-climate-change, #united-states-politics-and-government, #wisconsin

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For Lease: Windmill Space in the Atlantic Between Long Island and New Jersey

The proposed lease sale is part of the Biden administration’s push to develop 30,000 megawatts of offshore wind power by 2030.

#alternative-and-renewable-energy, #biden-joseph-r-jr, #bureau-of-ocean-energy-management-regulation-and-enforcement, #energy-and-power, #fishing-commercial, #global-warming, #greenhouse-gas-emissions, #haaland-deb, #interior-department, #oceans-and-seas, #oil-petroleum-and-gasoline, #renting-and-leasing-real-estate, #wind-power

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Keystone XL Pipeline Project Is Canceled

The embattled project to carry oil from Canada to Nebraska had been on life support since President Biden’s first day in office and stalled by legal battles for years before that.

#350-org, #biden-joseph-r-jr, #enbridge-inc, #energy-transfer-partners-lp, #global-warming, #indigenous-people, #keystone-pipeline-system, #nebraska, #obama-barack, #oil-petroleum-and-gasoline, #pipelines, #politics-and-government, #regulation-and-deregulation-of-industry, #republican-party, #tc-energy-corp, #trump-donald-j

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Exxon Mobil Defeated by Activist Investor Engine No. 1

The energy giant’s stunning loss was the work of a tiny hedge fund that believes investing for social good is also good for the bottom line.

#blackrock-inc, #boards-of-directors, #engine-no-1-gp-llc, #exxon-mobil-corp, #global-warming, #greenhouse-gas-emissions, #hedge-funds, #oil-petroleum-and-gasoline, #shareholder-rights-and-activism, #state-street-corporation, #vanguard-group-inc

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Line 3 Protest Tests 2 of Biden’s Campaign Pledges

The Line 3 pipeline would carry oil from Canada across Minnesota, crossing sensitive waterways as well as tribal lands. On Monday, protesters gathered to try to stop construction.

#alberta-canada, #army-corps-of-engineers, #biden-joseph-r-jr, #demonstrations-protests-and-riots, #enbridge-inc, #global-warming, #greenhouse-gas-emissions, #haaland-deb, #mccarthy-gina, #minnesota, #native-americans, #oil-petroleum-and-gasoline, #pipelines, #united-states-politics-and-government

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Severe Flooding in Guyana Prompts Extensive Relief Effort

More than 6,900 households have been severely affected by flooding across the small South American country in the past several weeks, according to official estimates.

#agriculture-and-farming, #floods, #guyana, #oil-petroleum-and-gasoline, #rain

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Severe Flooding Prompts Extensive Relief Effort in Guyana

More than 6,900 households have been severely affected by flooding across the small South American country in the past several weeks, according to official estimates.

#agriculture-and-farming, #floods, #guyana, #oil-petroleum-and-gasoline, #rain

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Exxon Board to Get a Third Activist Pushing Cleaner Energy

The new board member is likely to join two other candidates put forward by an activist investor who were declared winners last week.

#alternative-and-renewable-energy, #boards-of-directors, #engine-no-1-gp-llc, #exxon-mobil-corp, #oil-petroleum-and-gasoline, #shareholder-rights-and-activism

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Biden Aims to End Arctic Drilling. A Trump-Era Law Could Foil His Plans.

The administration suspended leases that were auctioned in the waning days of the Trump White House. But a 2017 law requires another sale.

#alaska, #arctic-national-wildlife-refuge, #biden-joseph-r-jr, #drilling-and-boring, #environment, #federal-lands, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #trump-donald-j, #united-states-politics-and-government, #wildlife-sanctuaries-and-nature-reserves

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Here Are America’s Top Methane Emitters. Some Will Surprise You.

Oil and gas giants are selling off their most-polluting operations to small private companies. Most manage to escape public scrutiny.

#carbon-dioxide, #conocophillips, #environment, #environmental-protection-agency, #global-warming, #greenhouse-gas-emissions, #hydraulic-fracturing, #methane, #natural-gas, #oil-petroleum-and-gasoline, #private-equity

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The ‘Mean Greens’ Are Forcing Exxon to Clean Up Its Act

Diversifying beyond oil and gas will benefit everyone.

#alternative-and-renewable-energy, #carbon-capture-and-sequestration, #energy-and-power, #exxon-mobil-corp, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline

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Biden Suspends Drilling Leases in Arctic National Wildlife Refuge

The decision effectively blocks oil and gas drilling in one of the largest tracts of undeveloped wilderness in the United States.

#arctic-national-wildlife-refuge, #biden-joseph-r-jr, #executive-orders-and-memorandums, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline

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Biden Administration to Suspend Arctic Drilling Leases

The move was widely expected and follows President Biden’s executive order to place a moratorium on new Arctic drilling.

#biden-joseph-r-jr, #drilling-and-boring, #interior-department, #oil-petroleum-and-gasoline, #united-states-politics-and-government

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Big Setbacks Propel Oil Giants Toward a ‘Tipping Point’

A surprising mix of environmentalists, pension fund managers and big money investors have scored startling victories against oil and coal, opening new battle fronts in the climate fight.

#australia, #energy-and-power, #engine-no-1-gp-llc, #environment, #global-warming, #greenhouse-gas-emissions, #milieudefensie-nonprofit, #netherlands, #oil-petroleum-and-gasoline, #royal-dutch-shell-plc, #shareholder-rights-and-activism, #suits-and-litigation-civil, #united-states

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Why Biden Isn’t Cracking Down on Fossil Fuels

Environmental activists had high hopes when he entered office, but have found his record mixed.

#biden-joseph-r-jr, #global-warming, #greenhouse-gas-emissions, #haaland-deb, #oil-petroleum-and-gasoline, #united-states-politics-and-government

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How Exxon Lost a Board Battle With a Small Hedge Fund

The oil giant’s unexpected boardroom defeat by an activist investor hinged on a few key moments.

#boards-of-directors, #engine-no-1-gp-llc, #exxon-mobil-corp, #oil-petroleum-and-gasoline, #shareholder-rights-and-activism, #stocks-and-bonds, #woods-darren-w-1965

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Flying and Climate: Airlines Under Pressure to Cut Emissions

The airline industry might not be able to reduce greenhouse gas emissions for decades because most solutions are not yet viable.

#airlines-and-airplanes, #alternative-and-renewable-energy, #bioenergy-and-biofuels, #carbon-dioxide, #europe, #european-union, #fuel-efficiency, #fuel-emissions-transportation, #global-warming, #greenhouse-gas-emissions, #kirby-scott-1967, #neste-oyj, #oil-petroleum-and-gasoline, #politics-and-government, #united-airlines, #united-states

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Biden’s Fossil Fuel Moves Clash With Pledges on Climate Change

Over the past month the Biden administration has defended three significant oil and gas projects, raising concerns among environmentalists that climate policy is being undermined

#alaska, #biden-joseph-r-jr, #conocophillips, #drilling-and-boring, #environment, #global-warming, #greenhouse-gas-emissions, #haaland-deb, #interior-department, #national-petroleum-reserve-alaska, #native-americans, #natural-gas, #oil-petroleum-and-gasoline, #pipelines, #suits-and-litigation-civil, #trump-donald-j, #united-states-politics-and-government

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Activists Crashed Exxon’s Board, but Forcing Change Will Be Hard

The tension between climate goals and lifting Exxon Mobil’s profits could make it difficult for activists to make progress.

#alternative-and-renewable-energy, #boards-of-directors, #carbon-capture-and-sequestration, #carbon-dioxide, #chevron-corporation, #executives-and-management-theory, #exxon-mobil-corp, #fink-laurence-d, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #stocks-and-bonds, #woods-darren-w-1965

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E.P.A. to Modify Trump-Era Limits on States’ Ability to Oppose Energy Projects

In recent years, states have used the Clean Water Act to block pipelines and other fossil fuel projects. The Trump administration tried to curb that power.

#clean-water-act, #environmental-protection-agency, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #regan-michael-s-1976, #united-states-politics-and-government, #water-pollution

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Biden Administration Defends Huge Alaska Oil Drilling Project

The administration says the country must pivot away from fossil fuels but backed a project set to produce more than 100,000 barrels of oil each day for 30 years.

#alaska, #alaska-natives, #biden-joseph-r-jr, #conocophillips, #drilling-and-boring, #global-warming, #greenhouse-gas-emissions, #national-petroleum-reserve-alaska, #oil-petroleum-and-gasoline, #reserves-natural-resources, #suits-and-litigation-civil, #trump-donald-j, #wildlife-sanctuaries-and-nature-reserves

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Shell Must Reduce Emissions, Dutch Court Rules

A company spokesman called the decision “disappointing” and said Shell expected to appeal, but the ruling could add pressure on the energy industry to accelerate its move away from fossil fuels.

#decisions-and-verdicts, #global-warming, #greenhouse-gas-emissions, #milieudefensie-nonprofit, #netherlands, #oil-petroleum-and-gasoline, #royal-dutch-shell-plc

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Exxon Mobil to Square Off With Climate Change Activists

Shareholders elected at least two of the four directors nominated by a coalition of investors that said the oil giant was not investing enough in cleaner energy.

#alternative-and-renewable-energy, #engine-no-1-gp-llc, #exxon-mobil-corp, #oil-petroleum-and-gasoline, #woods-darren-w-1965

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Exxon Mobil Faces Off Against Activist Investors on Climate Change

The oil company will hold a contested election for four board seats at its annual shareholders meeting on Wednesday.

#alternative-and-renewable-energy, #engine-no-1-gp-llc, #exxon-mobil-corp, #global-warming, #greenhouse-gas-emissions, #hedge-funds, #oil-petroleum-and-gasoline, #stocks-and-bonds, #woods-darren-w-1965

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South Korean Leader to Meet With White House

The Biden administration is expected to press for deeper cuts in South Korea’s greenhouse gas emissions when President Moon Jae-in visits Washington on Friday.

#biden-joseph-r-jr, #coal, #global-warming, #greenhouse-gas-emissions, #moon-jae-in, #oil-petroleum-and-gasoline, #united-nations-framework-convention-on-climate-change, #united-states-international-relations

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Here Is Who’s Behind the Global Surge in Single-Use Plastic

A new report shows that a surprisingly small number of big companies and banks are behind the manufacturing and financing of much of the world’s single-use plastic.

#china-petroleum-and-chemical-corporation-sinopec, #dow-chemical-company, #exxon-mobil-corp, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #plastics, #pollution, #recycling-of-waste-materials

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Before Deadly Accident, Lift Boat Turned Toward Heavy Winds, N.T.S.B. Says

A preliminary report from the National Transportation Safety Board detailed the events that led to a commercial vessel’s capsizing off the Louisiana coast.

#boats-and-boating, #maritime-accidents-and-safety, #national-transportation-safety-board, #oil-petroleum-and-gasoline, #rescues, #weather, #wind

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Iran’s Oil Exports Rise as U.S. Looks to Rejoin Nuclear Accord

The effectiveness of U.S. sanctions is being called into question as Iran and its oil buyers test whether penalties are worth the risk amid diplomatic negotiations.

#abrams-elliott, #biden-joseph-r-jr, #defense-and-military-forces, #embargoes-and-sanctions, #international-atomic-energy-agency, #nuclear-weapons, #office-of-foreign-assets-control-united-states-treasury, #oil-petroleum-and-gasoline, #state-department, #treasury-department, #united-states-international-relations

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Colonial Pipeline Hack Shows Risk to US Energy Independence

The country relies less on foreign oil than it used to, but pipelines and grids are increasingly vulnerable to cyberattacks and extreme weather.

#colonial-pipeline-co, #cyberattacks-and-hackers, #darkside-hacking-group, #energy-and-power, #global-warming, #international-trade-and-world-market, #natural-gas, #oil-petroleum-and-gasoline, #pipelines, #shale, #solar-energy, #united-states, #wind-power

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U.S. Energy Independence Threatened by Hackers and Climate Change

The country relies less on foreign oil than it used to, but pipelines and grids are increasingly vulnerable to cyberattacks and extreme weather.

#colonial-pipeline-co, #cyberattacks-and-hackers, #darkside-hacking-group, #energy-and-power, #global-warming, #international-trade-and-world-market, #natural-gas, #oil-petroleum-and-gasoline, #pipelines, #shale, #solar-energy, #united-states, #wind-power

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Nations Must Drop Fossil Fuels, Fast, World Energy Body Warns

A landmark report from the International Energy Agency says countries need to move faster and more aggressively to cut planet-warming pollution.

#carbon-capture-and-sequestration, #carbon-dioxide, #coal, #energy-and-power, #global-warming, #greenhouse-gas-emissions, #international-energy-agency, #oil-petroleum-and-gasoline

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Colonial Pipeline Now Delivering ‘Millions of Gallons’ an Hour, Owner Says

But it will still take days for gas stations in the Southeast to restock after panic buying depleted their supplies.

#colonial-pipeline-co, #cyberattacks-and-hackers, #darkside-hacking-group, #oil-petroleum-and-gasoline, #pipelines, #shutdowns-institutional

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DarkSide, Blamed for Colonial Pipeline Attack, Says It Is Shutting Down

The hacking group, which the F.B.I. has said was responsible for the ransomware attack, said it had received “pressure” from the U.S.

#colonial-pipeline-co, #computers-and-the-internet, #cyberwarfare-and-defense, #darkside-hacking-group, #extortion-and-blackmail, #federal-bureau-of-investigation, #oil-petroleum-and-gasoline, #pipelines, #shutdowns-institutional, #southeastern-states-us

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How Charles Koch Benefits From the Colonial Pipeline’s Troubles

When the next crisis hits the Colonial Pipeline, it will once again shut down. Panic buying will resume. And people will ask, yet again: How did this happen?

#biden-joseph-r-jr, #colonial-pipeline-co, #koch-industries-inc, #koch-charles-g, #leonard-christopher-journalist, #oil-petroleum-and-gasoline, #pipelines, #refineries

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Colonial Pipeline Paid Roughly $5 Million in Ransom to Hackers

The payment clears the way for gas to begin flowing again, but it risks emboldening other criminal groups to take American companies hostage by seizing control of their computers.

#american-automobile-assn, #biden-joseph-r-jr, #colonial-pipeline-co, #cyberattacks-and-hackers, #east-coast-us, #extortion-and-blackmail, #infrastructure-public-works, #national-security-council, #oil-petroleum-and-gasoline, #pipelines, #shortages, #united-states-cyber-command, #united-states-politics-and-government

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Pipeline Hack Points to Growing Cybersecurity Risk for Energy System

Energy infrastructure has increasingly come under assault, and analysts said the attack that cut off fuel supplies this week should be a “wake-up call.”

#colonial-pipeline-co, #computer-security, #cyberattacks-and-hackers, #cybersecurity-and-infrastructure-security-agency, #extortion-and-blackmail, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #pipelines

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Canadian Company Defies Michigan Order to Shut Down Oil Pipeline

Canada’s government has backed the pipeline owner in the dispute with Michigan’s governor, an ally of President Biden, complicating U.S.-Canadian relations.

#alberta-canada, #biden-joseph-r-jr, #canada, #conservative-party-canada, #enbridge-inc, #michigan, #oil-petroleum-and-gasoline, #pipelines, #trudeau-justin, #whitmer-gretchen

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Colonial Pipeline Resumes Operation: Latest News on the Shutdown

The company that operates the pipeline said it will take several days before the supply of energy returns to normal.

#airlines-and-airplanes, #colonial-pipeline-co, #darkside-hacking-group, #oil-petroleum-and-gasoline, #pipelines, #prices-fares-fees-and-rates

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Here’s The Latest News on the Colonial Pipeline Shutdown

The national average for a gallon of regular gasoline rose 2 cents on Tuesday, and some airlines began to take small measures in response to the shutdown.

#airlines-and-airplanes, #american-airlines, #darkside-hacking-group, #natural-gas, #oil-petroleum-and-gasoline, #pipelines

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FBI Confirms DarkSide as Colonial Pipeline Hacker

The attack by DarkSide, a relatively new criminal group believed to have roots in Eastern Europe, exposed the remarkable vulnerability of key American infrastructure.

#biden-joseph-r-jr, #cyberwarfare-and-defense, #darkside-hacking-group, #oil-petroleum-and-gasoline, #pipelines, #russia, #united-states-politics-and-government

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Biden Vows to ‘Disrupt and Prosecute’ Hackers Who Forced Shutdown of U.S. Pipeline

The attack by a relatively new criminal group believed to have roots in Eastern Europe exposed the remarkable vulnerability of key American infrastructure.

#biden-joseph-r-jr, #cyberwarfare-and-defense, #darkside-hacking-group, #oil-petroleum-and-gasoline, #pipelines, #russia, #united-states-politics-and-government

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How the Colonial Pipeline Became a Vital Artery for Fuel

Growing domestic production of oil and gas has led to reduced refining capacity in the Northeast, increasing the reliance on fuel sent from Texas.

#colonial-pipeline-co, #computer-security, #cyberattacks-and-hackers, #darkside-hacking-group, #extortion-and-blackmail, #infrastructure-public-works, #oil-petroleum-and-gasoline, #pipelines, #united-states

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F.B.I. Identifies Group Behind Hack on Key U.S. Pipeline

A deputy national security adviser said that the government believed DarkSide was “a criminal actor” but was looking for any ties to nation-states.

#colonial-pipeline-co, #darkside-hacking-group, #federal-bureau-of-investigation, #oil-petroleum-and-gasoline

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F.B.I. Identifies Group Behind U.S. Oil Pipeline Hack

The F.B.I. on Monday said that DarkSide, a hacking group, was responsible for the ransomware attack that closed a U.S. pipeline.

#colonial-pipeline-co, #darkside-hacking-group, #federal-bureau-of-investigation, #oil-petroleum-and-gasoline

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Gas Flaring Declined in 2020, Study Finds

A new report offers a detailed picture of flaring around the world, with steep declines in some areas and surprising increases in others.

#carbon-dioxide, #gas-flaring, #global-warming, #greenhouse-gas-emissions, #oil-petroleum-and-gasoline, #world-bank

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Pipeline Shutdown Has Had Little Impact on Supplies So Far

But some energy warned of possible shortages and higher prices if the suspension continues into the week.

#colonial-pipeline-co, #cyberattacks-and-hackers, #east-coast-us, #georgia, #gulf-coast-us, #kinder-morgan-inc, #natural-gas, #oil-petroleum-and-gasoline, #pipelines, #prices-fares-fees-and-rates, #refineries

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Cyberattack Forces a Shutdown of a Top U.S. Pipeline

The operator, Colonial Pipeline, said it had halted systems for its 5,500 miles of pipeline after being hit by a ransomware attack.

#colonial-pipeline-co, #cyberattacks-and-hackers, #east-coast-us, #extortion-and-blackmail, #oil-petroleum-and-gasoline, #pipelines, #shutdowns-institutional, #united-states

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Cyberattack Forces a Shutdown of a Top U.S. Pipeline Operator

The operator of the system, Colonial Pipeline, said it had shut down its 5,500 miles of pipeline, which takes refined gasoline and jet fuel along the East Coast.

#east-coast-us, #oil-petroleum-and-gasoline, #pipelines, #solarwinds

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