QUICK NEWS, November 12: What Big Oil Is Doing About Climate Change; A Tale Of New Energy In Two States

What Big Oil Is Doing About Climate Change Big Oil claims it's doing its part to combat climate change. A new study finds it's not even close.

Callum Burroughs, November 11, 2018 (Business Insider)

“Despite years of claims and commitments about clean investment and alleviating climate change, the world's largest oil companies have contributed just 1% of their spending budgets to green energy in 2018…[A new study by environmental advocates CDP, the] world's top 24 publicly-listed oil companies spent just 1.3 percent of total budgets of $260 billion on low carbon energy in 2018…70% of the energy sector's renewables capacity came from European oil majors…

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Norway's Equinor leads the way with plans to spend up to 20% of its budget on renewables by 2030, while European major Total has spent the most on low-carbon energies, around 4.3% of its budget, since 2010…Shell plans to invest up to $2 billion each year in renewables and electric vehicles alongside a pledge in 2017 to halve the carbon footprint of the energy it sells by 2050...These efforts pale in comparison to the required need for drastic climate control measures...” click here for more

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A Tale Of New Energy In Two States Why Nevada upped its renewable energy standards (and Arizona didn’t)

Elise Hansen and Katarina Zimmer, November 11, 2018 (Grist)

Voters in Arizona and Nevada faced an identical choice…[of whether to require their utility companies] to get half of their energy from renewable sources by 2030…Proposition 127 failed in Arizona amid what local news outlets are calling “the most expensive ballot fight” in the state’s history. Meanwhile, roughly 60 percent of voters supported Question 6 in Nevada, adopting the new renewables standard…The National Renewable Energy Laboratory ranked Nevada and Arizona first and second, respectively, among U.S. states in solar power potential in 2006. And solar is just one element of a renewable energy portfolio that can also include power from wind, hydroelectric, and geothermal sources…

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…Forcing utility companies to get a minimum percentage of their energy from renewables is one of the simplest and most-effective ways to spur a transition away from fossil fuels…As Nevada now moves closer to reaching its potential, Arizona is stalled…While Nevada’s main electric company stayed neutral on the Silver State’s measure, Arizona’s electricity companies put up a big fight…[and] frequently cited the possibility that Arizonans could see increased energy costs if the measure passed…[Research showed they were false claims but they swayed voters and renewables advocates say the] outcome is “an unfortunate example” of the power wielded by investor-owned utilities…” click here for more

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