Oil: Exxon relishes role as climate villain
For the first time in 10 years, oil giant ExxonMobil accepted a shareholder resolution.
Despite opposition from the top, 60% of investors backed what’s called the ‘proxy access measure,’ which would mean small shareholders could nominate anyone to join the board – perhaps even a climate activist.
That was, however, the only climate measure that passed the day in Dallas. The other 11 (entirely reasonable) proposals were voted down in droves.
Shareholders rejected a measure requiring a report on the impacts of climate policy on the business, they said no to a policy to limit global warming to 2 degrees, and they did not want a climate expert on the board.
Chevron likewise defeated climate proposals at its AGM.
But that wasn’t the only news out of these conferences. Exxon also came under fire for preventing Guardian journalists from attending its event over its critical coverage of the company’s climate actions.
Coverage like this: ‘ExxonMobil tried to censor climate scientists to Congress during Bush era’
Meanwhile Shell announced it will fire an extra 2,200 employees after its February acquisition of BG Group – taking the total to 5,000.
Bloomberg reports that the industry faces a record third straight year of cutbacks, and now US clean energy jobs actually surpass oil drilling jobs.
Fracking: UK govt accused of suppressing climate change report
A report on the impacts of fracking on the climate by the independent Climate Change Committee (CCC) may have been suppressed by government in a bid to help the industry, according to the Huffington Post.
The CCC report was submitted to Energy Secretary Amber Rudd at the end of March and yet it has still not been published despite a law that says it must be presented to parliament ‘as soon as practicable’.
This comes just days after Third Energy was granted approval for the first fracking operation in the UK in years.
Meanwhile, according to regional press, a North East energy expert says the country’s shale reserves aren’t as plentiful as the government hopes.
All that said, there is fresh impetus in certain groups to get fracking in the UK, withsome local scientists telling the BBC that Yorkshire ‘has the chance to be the centre of a European industry’.
And The Telegraph, in an editorial that broadsides the mess at Hinkley Point, says shale is needed to keep the UK’s lights on.
In other news
US: Donald Trump is due to deliver a speech outlining his energy policy today, with Reuters reporting he has been urged to attack OPEC and promise to cut regulations.
France: Nuclear power plant workers across the country have today joined the massive labour strikes, reports the BBC.
UK: A new report claims ‘Brexit’ could hurt UK energy and climate policy, reports The Carbon Brief.
China: The government is introducing new measures to reduce household coal burning, reports Reuters.
Oil: The price of Brent Crude rose above $50 for the first time this year, reports the FT.