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Meta is financing the data center using accounting tricks that the Wall Street Journal reports appear "too good to be true."
The tiny town of Holly Ridge, Louisiana will soon be home to a massive $27 billion artificial intelligence data center being built by Facebook parent company Meta that, when finished, will be the largest in the world.
However, residents of Holly Ridge do not feel honored that they are at the epicenter of Meta's ambitious data center buildout, which they say has upended their entire community.
As reported by New Orleans-based public radio station WWNO last week, the nonstop parade of trucks driving through Holly Ridge has led to a 600% increase in vehicle crashes over the last year, including three truck crashes that occurred just outside Holly Ridge Elementary School.
Penelope Hull, a fourth-grade student at the school, told WWNO that the data center construction trucks are highly disruptive to learning even on days when they don't get into accidents, as they often cause the classroom walls to shake.
"You can't pay attention," she said. "And then you get off track and you lose what the teacher was telling you to do."
Hull also said that the school has had to shut down its playground out of concern that Meta construction trucks will crash into children playing during recess.
The threat of trucks crashing into schools isn't the only problem that the data center has brought. Local residents Joseph and Robin Williams told WWNO that they've noticed their tap water is frequently rust colored since Meta started building the data center, and they say their electricity frequently goes off for hours on end with no warning.
Similar issues were documented by progressive media outlet More Perfect Union, which sent its reporters down to Holly Ridge and found residents felt their concerns were being completely ignored by both Meta and their local elected officials.
"We had no voting on it, no community meetings, no nothing," one local woman told More Perfect Union. "It was done all under the table."
Another local resident told More Perfect Union that Holly Ridge has become "totally different" ever since Meta began AI data center construction.
"Who wants to live like this?" he asked as he looked on at more construction trucks barreling through the community.
Zuckerberg is building a data center in Louisiana the size of Manhattan — while Meta runs ads about how small towns love their data centers, we found furious locals who plan to leave town completely. pic.twitter.com/xHLG4KJMLO
— More Perfect Union (@MorePerfectUS) November 19, 2025
According to a Monday report in the Wall Street Journal, the massive Meta Louisiana data center is being funded through debt that is being papered over with accounting gimmicks that the paper notes are likely "too good to be true."
Specifically, the Journal said that Meta has created a joint venture known as a variable interest entity with investment manager Blue Owl Capital, in which Meta will rent the data center for up to 20 years as a way to keep the debt from its construction off its books.
"This lease structure minimizes the lease liabilities and related assets Meta will recognize, and enables Meta to use 'operating lease,' rather than 'finance lease,' treatment," the Journal explained. "If Meta used the latter, it would look more like Meta owns the asset and is financing it with debt."
However, the report noted that Meta is relying on "some convenient assumptions" in justifying its use of this accounting tactic, some of which "appear implausible" and "are in tension with one another," which makes it hard to justify keeping debt from the data center off its books.
"Ultimately, the fact pattern Meta relies on to meet its conflicting objectives strains credibility," reports the Journal. "To believe Meta’s books, one must accept that Meta lacks the power to call the shots that matter most, that there’s reasonable doubt it will stay beyond four years, and that it probably won’t have to honor its guarantee—all at the same time."
Commenting on the Journal's story about the data center financing, Wired editor Tim Marchman described it in a post on Bluesky as "the equivalent of a 500-foot neon sign reading 'FRAUD.'"
"COP30 provides a stark reminder that the answers to the climate crisis do not lie inside the climate talks—they lie with the people and movements leading the way toward a just, equitable, fossil-free future," one campaigner said.
The United Nations Climate Change Conference, or COP30, concluded on Saturday in Belém, Brazil with a deal that does not even include the words "fossil fuels"—the burning of which scientists agree is the primary cause of the climate crisis.
Environmental and human rights advocates expressed disappointment in the final Global Mutirão decision, which they say failed to deliver road maps to transition away from oil, gas, and coal and to halt deforestation—another important driver of the rise in global temperatures since the preindustrial era.
“This is an empty deal," said Nikki Reisch, the Center for International Environmental Law's (CIEL) director of climate and energy program. "COP30 provides a stark reminder that the answers to the climate crisis do not lie inside the climate talks—they lie with the people and movements leading the way toward a just, equitable, fossil-free future. The science is settled and the law is clear: We must keep fossil fuels in the ground and make polluters pay."
COP30 was notable in that it was the first international climate conference to which the US did not send a formal delegation, following President Donald Trump's decision to withdraw the US from the Paris Agreement. Yet, even without a Trump administration presence, observers were disappointed in the power of fossil fuel-producing countries to derail ambition. The final document also failed to heed the warning of a fire that broke out in the final days of the talks, which many saw as a symbol for the rapid heating of the Earth.
“Rich polluting countries that caused this crisis have blocked the breakthrough that we needed at COP30."
“The venue bursting into flames couldn’t be a more apt metaphor for COP30’s catastrophic failure to take concrete action to implement a funded and fair fossil fuel phaseout,” said Jean Su, energy justice director at the Center for Biological Diversity, in a statement. “Even without the Trump administration there to bully and cajole, petrostates once again shut down meaningful progress at this COP. These negotiations keep hitting a wall because wealthy nations profiting off polluting fossil fuels fail to offer the needed financial support to developing countries and any meaningful commitment to move first.”
The talks on a final deal nearly broke down between Friday and Saturday as a coalition of more than 80 countries who favored more ambitious language faced off against fossil fuel-producing nations like Saudi Arabia, Russia, and India.
During the dispute, Colombia's delegate said the deal "falls far short of reflecting the magnitude of the challenges that parties—especially the most vulnerable—are confronting on the ground," according to BBC News.
Finally, a deal was struck around 1:35 pm local time, The Guardian reported. The deal circumvented the fossil fuel debate by affirming the "United Arab Emirates Consensus," referring to when nations agreed to transition away from fossil fuels at COP28 in the UAE. In addition, COP President André Corrêa do Lago said that stronger language on the fossil fuel transition could be negotiated at an interim COP in six months.
On deforestation, the deal similarly restated the COP26 pledge to halt tree felling by 2030 without making any new plans or commitments.
Climate justice advocates were also disappointed in the finance commitments from Global North to Global South countries. While wealthier countries pledged to triple adaptation funds to $120 billion per year, many saw the amount as insufficient, and the funds were promised by 2035, not 2030 as poorer countries had wanted.
"We must reflect on what was possible, and what is now missing: the road maps to end forest destruction, and fossil fuels, and an ongoing lack of finance," Greenpeace Brazil executive director Carolina Pasquali told The Guardian. "More than 80 countries supported a transition away from fossil fuels, but they were blocked from agreeing on this change by countries that refused to support this necessary and urgent step. More than 90 countries supported improved protection of forests. That too did not make it into the final agreement. Unfortunately, the text failed to deliver the scale of change needed.”
Climate campaigners did see hope in the final agreement's strong language on human rights and its commitment to a just transition through the Belém Action Mechanism, which aims to coordinate global cooperation toward protecting workers and shifting to clean energy.
“It’s a big win to have the Belém Action Mechanism established with the strongest-ever COP language around Indigenous and worker rights and biodiversity protection,” Su said. “The BAM agreement is in stark contrast to this COP’s total flameout on implementing a funded and fair fossil fuel phaseout.”
Oxfam Brasil executive director Viviana Santiago struck a similar note, saying: “COP30 offered a spark of hope but far more heartbreak, as the ambition of global leaders continues to fall short of what is needed for a livable planet. People from the Global South arrived in Belém with hope, seeking real progress on adaptation and finance, but rich nations refused to provide crucial adaptation finance. This failure leaves the communities at the frontlines of the climate crisis exposed to the worst impacts and with few options for their survival."
"The climate movement will be leaving Belém angry at the lack of progress, but with a clear plan to channel that anger into action."
Romain Ioualalen, global policy lead at Oil Change International, said: “Rich polluting countries that caused this crisis have blocked the breakthrough that we needed at COP30. The EU, UK, Australia, and other wealthy nations are to blame for COP’s failure to adopt a road map on fossil fuels by refusing to commit to phase out first or put real public money on the table for the crisis they have caused. Still, amid this flawed outcome, there are glimmers of real progress. The Belém Action Mechanism is a major win made possible by movements and Global South countries that puts people’s needs and rights at the center of climate action."
Indigenous leaders applauded language that recognized their land rights and traditional knowledge as climate solutions and recognized people of African descent for the first time. However, they still argued the COP process could do more to enable the full participation of Indigenous communities.
"Despite being referred to as an Indigenous COP and despite the historic achievement in the Just Transition Programme, it became clear that Indigenous Peoples continue to be excluded from the negotiations, and in many cases, we were not given the floor in negotiation rooms. Nor have most of our proposals been incorporated," said Emil Gualinga of the Kichwa Peoples of Sarayaku, Ecuador. "The militarization of the COP shows that Indigenous Peoples are viewed as threats, and the same happens in our territories: Militarization occurs when Indigenous Peoples defend their rights in the face of oil, mining, and other extractive projects."
Many campaigners saw hope in the alliances that emerged beyond the purview of the official UN Framework Convention on Climate Change (UNFCCC) process, from a group of 24 countries who have agreed to collaborate on a plan to transition off fossil fuels in line with the Paris goals of limiting temperature increases to 1.5°C to the Indigenous and civil society activists who marched against fossil fuels in Belém.
“The barricade that rich countries built against progress and justice in the COP30 process stands in stark contrast to the momentum building outside the climate talks," Ioualalen said. "Countries and people from around the world loudly are demanding a fair and funded phaseout, and that is not going to stop. We didn’t win the full justice outcome we need in Belém, but we have new arenas to keep fighting."
In April 2026, Colombia and the Netherlands will cohost the First International Conference on Fossil Fuel Phaseout. At the same time, 18 countries have signed on in support of a treaty to phase out fossil fuels.
"However big polluters may try to insulate themselves from responsibility or edit out the science, it does not place them above the law," Reisch said. "That’s why governments committed to tackling the crisis at its source are uniting to move forward outside the UNFCCC—under the leadership of Colombia and Pacific Island states—to phase out fossil fuels rapidly, equitably, and in line with 1.5°C. The international conference on fossil fuel phaseout in Colombia next April is the first stop on the path to a livable future. A Fossil Fuel Treaty is the road map the world needs and leaders failed to deliver in Belém.”
These efforts must contend with the influence not only of fossil fuel-producing nations, but also the fossil fuel industry itself, which sent a record 1,602 lobbyists to COP30.
“COP30 witnessed a record number of lobbyists from the fossil fuel industry and carbon capture sector," said CIEL fossil economy director Lili Fuhr. "With 531 Carbon Capture and Storage (CCS) lobbyists—surpassing the delegations of 62 nations—and over 1,600 fossil fuel lobbyists making up 1 in every 25 attendees, these industries deeply infiltrated the talks, pushing dangerous distractions like CCS and geoengineering. Yet, this unprecedented corporate capture has met fiercer resistance than ever with people and progressive governments—with science and law on their side—demanding a climate process that protects people and planet over profit."
Indeed, Jamie Henn of Make Polluters Pay told Common Dreams that the polluting nations and industries overplayed their hand, arguing that Big Oil and "petro states, including the United States, did their best to kill progress at COP30, stripping the final agreement of any mention of fossil fuels. But their opposition may have backfired: More countries than ever are now committed to pursuing a phaseout road map and this April's conference in Colombia on a potential 'Fossil Fuel Treaty' has been thrust into the spotlight, with support from Brazil, the European Union, and others."
Henn continued: "The COP negotiations are a consensus process, which means it's nearly impossible to get strong language on fossil fuels past blockers like Saudi Arabia, Russia, and the US, who skipped these talks, but clearly opposed any meaningful action. But you can't block reality: The transition from fossils to clean energy is accelerating every day."
"From Indigenous protests to the thunderous rain on the roof of the conference every afternoon, this COP in the heart of the Amazon was forced to confront realities that these negotiations so often try to ignore," he concluded. "I think the climate movement will be leaving Belém angry at the lack of progress, but with a clear plan to channel that anger into action. Climate has always been a fight against fossil fuels, and that battle is now fully underway."
"The explosion of LNG exports in recent years has already generated massive profits for the fossil fuel industry, while consumers and local communities pay the price," said one climate campaigner.
As government leaders from around the world met in Brazil to discuss solutions to the fossil fuel-driven climate emergency, the GOP-controlled US House of Representatives on Thursday advanced a bill that would lift restrictions on liquefied natural gas.
Eleven Democrats joined all Republicans present in voting for GOP Texas Congressman August Pfluger's Unlocking our Domestic LNG Potential Act, which would also grant the Federal Energy Regulatory Commission sole authority over applications for import and export facilities. It's now up to the Senate whether the bill will reach President Donald Trump.
As E&E News reported: "Pfluger and Republican leadership previously championed the bill in response to President Joe Biden's LNG pause, in which the Department of Energy paused new terminal approvals to evaluate whether they were in the public interest. It passed the House last year, but never received Senate consideration."
While Pfluger, House Speaker Mike Johnson (R-La.), and Sen. Tim Scott (R-SC), the upper chamber sponsor, celebrated Thursday's vote, climate campaigners blasted the bill—just one part of a sweeping GOP effort to boost the planet-heating fossil fuel industry during Trump's second term.
"The explosion of LNG exports in recent years has already generated massive profits for the fossil fuel industry, while consumers and local communities pay the price," Sierra Club director of beyond fossil fuels policy Mahyar Sorour said in a statement after the vote. "The last thing we need is even less oversight over these costly, polluting export projects."
"House Republicans should be focused on making investments in a clean economy and reducing energy costs for our families, not further padding the pockets of Big Oil and Gas executives," Sorour added. "The Senate should reject this dirty bill."
Energy prices are going up everywhere and Republicans just made it worse ⬇️
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— Energy and Commerce Democrats (@energycommerce.bsky.social) November 20, 2025 at 6:03 PM
Tyson Slocum, director of Public Citizen's Energy Program, highlighted that "President Trump explicitly promised during the campaign that he would lower Americans' utility bills by half within 12 months. Not only has Trump obviously failed on that promise, but this legislation would exacerbate the energy affordability crisis."
Slocum pointed to his group's estimates that "natural gas prices for American households have increased by $10.3 billion from January through August 2025 compared to the same time period a year earlier—a 20% increase."
"Eight LNG export terminals now consume more natural gas than all American households combined," he continued. "The US Department of Energy's Energy Information Administration's November 2025 Short Term Energy Outlook concludes that Americans face sharply higher natural gas prices 'primarily due to increased liquefied natural gas (LNG) exports.'"
"This radical and reckless deregulatory proposal eliminates the requirement that gas exports comply with the public interest, allowing fossil fuel companies to enjoy unregulated exports at the expense of affordable energy here at home," Slocum stressed. "The move by Congress to allow bypassing these safeguards could have catastrophic impacts on the consumers in the US, sending energy prices soaring, while allowing climate change to get far worse."
"Despite Trump promising he would cut Americans' energy bills, Congress is set to put consumers at risk of paying more, raising major questions about Trump's close allegiance with dirty energy executives who want to ship more fuel overseas," he added. "Creating more capacity to export US fossil fuels abroad will only accelerate the climate crisis and hurt US consumers."
Americans are already being crushed by the skyrocketing cost of living, and now the House GOP is passing legislation that will drive up monthly power bills even further by sending UNLIMITED amounts of our natural gas abroad.
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— Rep. Frank Pallone (@pallone.house.gov) November 20, 2025 at 4:26 PM
The vote happened on the same day that Doug Burgum, the billionaire fossil fuel industry ally whom Trump appointed to lead the US Department of the Interior, ordered the termination of the Biden administration's 2024-29 National Outer Continental Shelf Oil and Gas Leasing Program and the development of a "new, more expansive" plan "as soon as possible."
Responding to the order in a statement, Sierra Club executive director Loren Blackford said that "Donald Trump and Doug Burgum are once again trying to sell out our coastal communities and our public waters in favor of corporate polluters' bottom line."
"We can’t have a deal that fails to deliver what science and the law require on finance, fossil fuels, or forests and call that progress."
Climate advocates voiced alarm and outrage Friday after every mention of fossil fuels was dropped from the latest draft text to emerge from the COP30 summit, high-stakes talks that have been swarmed by a record number of oil and gas lobbyists seeking to derail any progress toward a clean energy transition.
Dozens of nations—including Spain, Vanuatu, the Marshall Islands, Chile, and Germany—are demanding that any final agreement include "a roadmap for implementing a just, orderly, and equitable transition away from fossil fuels" to fulfill world leaders' previous commitment at COP28.
But a draft document released by COP30 host Brazil on Friday, formally the last day of talks, omits any such roadmap and does not even contain the term "fossil fuels."
Monique Barbut, France's environment minister, said Friday that "at this point, even if we don't have the roadmap, but at least a mention of the fossil fuels, I think we would accept it."
"But as it stands now, we have nothing left," Barbut added.
While draft texts are not necessarily a definitive measure of the state of negotiations, the omission was seen as further evidence that United Nations climate talks have been captured by petrostates such as Saudi Arabia and fossil fuel industry influence-peddlers. At COP30, fossil fuel lobbyists outnumber the delegations of every country except Brazil.
The Donald Trump-led United States, the world's largest oil producer, did not send an official delegation to the summit.
"This is outrageous," Bronwen Tucker, public finance lead at Oil Change International, said in response to the new draft text. "The presidency has presented a shamefully weak text that fails to mention fossil fuels, fails to deliver accountability towards rich countries’ finance obligations, and only makes vague promises on adaptation."
"A large group of countries have been vocal in their support for a roadmap to transition away from fossil fuels, but rich parties are still refusing to deliver the debt-free public finance on fair terms that is key to make it happen," Tucker added. "Until they stop blocking efforts to address the systemic barriers developing countries face to phasing out fossil fuels, any roadmap will be a dead-end."
"We’re walking a fine line here between survival and climate catastrophe."
The updated text was released as negotiators raced to strike a consensus deal in the final hours of the summit, which appears likely to head into overtime. Talks were delayed for hours on Thursday after a fire broke out at the summit, an incident that activists viewed as a "potent metaphor" for world leaders' failure to combat the climate crisis as it wreaks havoc across the globe.
"We’re walking a fine line here between survival and climate catastrophe, and in these final hours I am hoping we can take something back to our communities that indicates that the world considers our homes worth fighting for,” said Fenton Lutunatabua, Pacific team lead at the climate group 350.
Nikki Reisch, director of the Climate and Energy Program at the Center for International Environmental Law, said Friday that the toothless draft text lays bare the need to overhaul the COP process and mitigate the influence of the fossil fuel industry—the primary driver of the climate emergency.
"The world is being sold a bill of lies here at this 'COP of truth,'" said Reisch. "We can’t have a deal that fails to deliver what science and the law require on finance, fossil fuels, or forests and call that progress. The weakness of the text underscores why the climate talks are sorely in need of reform to allow a majority vote when a handful of countries block consensus."