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California greenlights ‘Orwellian’ solar-powered fracking scheme


Highlights

  • California Governor Gavin Newsom approved two rounds drilling permits for Chevron this summer, furthering criticism from environmental groups
    • Since lifting the moratorium on fracking, Governor Newsom has approved 36 new fracking permits in Lost Hills to Aera Energy, a company he has close ties with 
    • Chevron was given permission to frack 12 wells before July 4th
  • Chevron plans to use solar panels to power their drilling operations in the Lost Hills Oil Field located in Kern County
  • The new permits will exasperate health issues within the small town of Lost Hills in the area due to pollution 
  • The approval of these permits is an example of environmental racism, as the town is comprised of 97% Latinx individuals and almost 30% of residents have incomes below the poverty line
  • Juan Flores of the Center on Race, Poverty & the Environment questions the Governors campaign promises:

“[Newsom] kept talking about how we needed to stay away from corporations and him not wanting to receive money for his campaign from big corporations like Chevron, Aera and Shell. He said ‘I don’t want to serve my term as Governor paying back those favors.’ And now he’s completely acting the opposite.”

  • The amended version of AB 345 was voted down on Aug. 5 Senate hearing and all of those who voted against it received money from companies or labor unions who had opposed the bill

The Climate Center’s Climate-Safe California Platform advocates for a formal California State commitment by 2022 to 80% below 1990 levels of greenhouse gas emissions and net-negative emissions by 2030. This bold target requires accelerating the phase-out of fossil fuel development, production, and use.


Read More: https://therealnews.com/columns/california-greenlights-orwellian-solar-powered-fracking-scheme

Arctic Drilling

Wall street is bending to pressure to halt Arctic-oil loans

By Jennifer A. Dlouhy, Bloomberg Green


Highlights

Environmental activists are fighting oil companies to keep drilling out of the Arctic National Wildlife Refuge by putting divestment pressure on banks.

  • Tribal representatives and other environmental activists pressed banking executives about their policies during shareholder meetings and in conversations with sustainability directors
  • Morgan Stanley has announced that they will not be financing arctic oil and gas development, becoming the fifth major U.S. bank to announce it will no longer support drilling in the arctic
  • Many large banks have made the same promise, with Bank of America being a major holdout 
  • Though the Interior Department is preparing to sell drilling rights along the arctic coast, the lack of infrastructure makes it hard to locate crude oil, making potential investors have second thoughts
  • Potential drilling could have dire impacts on native wildlife
  • Alison Kirsch, the lead researcher in the Rainforest Action Network’s Climate and Energy Program, says that by cutting off funding, these drilling projects can’t continue:

“A fossil fuel project needs three things to go ahead…It needs government approval– or a permit– but it also needs capital and it also needs insurance. And those last two pieces mostly happen in the private sector. So if you can intervene there, you can stop projects.”

  • Promises by these banks to divest in individual projects does not prohibit the banks from lending to these companies altogether

Fossil fuel divestment and the transition to 100% clean energy is a major step towards achieving The Climate Center’s Climate-Safe California Platform.


Read more: https://www.bloomberg.com/news/articles/2020-04-24/wall-street-is-bending-to-pressure-to-halt-arctic-drilling-loans