SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
");background-position:center;background-size:19px 19px;background-repeat:no-repeat;background-color:var(--button-bg-color);padding:0;width:var(--form-elem-height);height:var(--form-elem-height);font-size:0;}:is(.js-newsletter-wrapper, .newsletter_bar.newsletter-wrapper) .widget__body:has(.response:not(:empty)) :is(.widget__headline, .widget__subheadline, #mc_embed_signup .mc-field-group, #mc_embed_signup input[type="submit"]){display:none;}:is(.grey_newsblock .newsletter-wrapper, .newsletter-wrapper) #mce-responses:has(.response:not(:empty)){grid-row:1 / -1;grid-column:1 / -1;}.newsletter-wrapper .widget__body > .snark-line:has(.response:not(:empty)){grid-column:1 / -1;}:is(.grey_newsblock .newsletter-wrapper, .newsletter-wrapper) :is(.newsletter-campaign:has(.response:not(:empty)), .newsletter-and-social:has(.response:not(:empty))){width:100%;}.newsletter-wrapper .newsletter_bar_col{display:flex;flex-wrap:wrap;justify-content:center;align-items:center;gap:8px 20px;margin:0 auto;}.newsletter-wrapper .newsletter_bar_col .text-element{display:flex;color:var(--shares-color);margin:0 !important;font-weight:400 !important;font-size:16px !important;}.newsletter-wrapper .newsletter_bar_col .whitebar_social{display:flex;gap:12px;width:auto;}.newsletter-wrapper .newsletter_bar_col a{margin:0;background-color:#0000;padding:0;width:32px;height:32px;}.newsletter-wrapper .social_icon:after{display:none;}.newsletter-wrapper .widget article:before, .newsletter-wrapper .widget article:after{display:none;}#sFollow_Block_0_0_1_0_0_0_1{margin:0;}.donation_banner{position:relative;background:#000;}.donation_banner .posts-custom *, .donation_banner .posts-custom :after, .donation_banner .posts-custom :before{margin:0;}.donation_banner .posts-custom .widget{position:absolute;inset:0;}.donation_banner__wrapper{position:relative;z-index:2;pointer-events:none;}.donation_banner .donate_btn{position:relative;z-index:2;}#sSHARED_-_Support_Block_0_0_7_0_0_3_1_0{color:#fff;}#sSHARED_-_Support_Block_0_0_7_0_0_3_1_1{font-weight:normal;}.grey_newsblock .newsletter-wrapper, .newsletter-wrapper, .newsletter-wrapper.sidebar{background:linear-gradient(91deg, #005dc7 28%, #1d63b2 65%, #0353ae 85%);}
To donate by check, phone, or other method, see our More Ways to Give page.
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
"The fossil fuel industry delays climate action, distracts from real solutions that would end the fossil fuel era, and does everything in its power to squeeze the last drops of profit from a dying industry, at the expense of all of us."
Among the world's wealthiest countries, the U.S. leads the way in spending public money on so-called climate "solutions" that have been proven to "consistently fail, overspend, or underperform," according to an analysis released Thursday by the research and advocacy group Oil Change International.
The group's report, titled Funding Failure, focuses on international spending on carbon capture and fossil-based hydrogen subsidies, which continues despite ample data showing that the technological fixes have "failed to make a dent in carbon emissions" after 50 years of research and development.
The report details how five countries account for 95% of all carbon capture spending, with the U.S. investing the most taxpayer money in the technology, at $12 billion in subsidies over the last 40 years.
Norway comes in second with $6 billion going to carbon capture and storage, while Canada has spent $3.8 billion, the European Union has spent $3.6 billion, and the Netherlands has poured $2.6 billion into the technology, with which carbon dioxide emissions are compressed and utilized or stored underground.
"It is nothing short of a travesty that funds meant to combat climate change are instead bolstering the very industries driving it."
Harjeet Singh, global engagement director for the Fossil Fuel Non-Proliferation Treaty Initiative, toldThe Guardian that the subsidies amount to a "colossal waste of money."
"It is nothing short of a travesty that funds meant to combat climate change are instead bolstering the very industries driving it," said Singh.
While proponents claim carbon capture and storage reduces planet-heating carbon emissions, OCI notes, it was originally developed in the 1970s "to enhance oil production, and this remains its primary use," with the technology "barely" reducing emissions.
High-profile carbon capture failures in the U.S. include the Petra Nova project in Houston, Texas, which cost nearly $200 million in taxpayer funds and whose captured emissions were later used for crude oil production, and the FutureGen project, "which swallowed $200 million and never materialized."
"Investing in carbon capture delays the transition to renewable energy," reads OCI's report. "Instead of wasting time and money on technologies that do not work, governments must commit to justly and urgently phasing out fossil fuels before it's too late."
Despite the lack of data supporting the use of carbon capture, the group said, countries including the U.S. are "preparing to waste hundreds of billions of taxpayer dollars on these ineffective technologies, further benefiting the fossil fuel industry."
OCI highlighted how the U.S. and Canada, while ostensibly fighting the climate crisis, have spent a combined $4 billion in public money to explicitly "pay oil companies to produce more oil," with the subsidies going to carbon capture for "enhanced oil recovery."
The report also found that in addition to the $12 billion in taxpayer funds the U.S. has spent on carbon capture and fossil hydrogen—a leak-prone gas produced through energy-intensive processes that cause their own emissions—the government has spent an estimated $1.3 billion on the 45Q tax credit, which allows companies to write off tax for every ton of carbon dioxide they store underground.
The Inflation Reduction Act (IRA) increased the amount given to companies in 45Q tax credits from $35 to $60 per ton, meaning that the subsidy could grow to over $100 billion in the next 10 years.
OCI's Policy Tracker shows that overall public spending on carbon capture and hydrogen could grow by between $115 billion and $240 billion in the coming decades.
"We need real climate action, not fossil fuel bailouts!" said OCI in a post on social media.
The group's report also highlights that fossil fuel giants such as ExxonMobil have shifted from carbon capture skeptics to outspoken proponents of the technology—with the company bragging to investors that carbon capture and hydrogen would help its Low Carbon Business Unit make "hundreds of billions of dollars" and grow to be "larger than ExxonMobil's base business."
Exxon didn't launch its carbon capture efforts until 2018, having spent several years and hundreds of millions of dollars on another "climate solution" that ultimately failed: the use of algae to make biofuels.
Since then, Exxon has "pushed for direct government funding for carbon capture, particularly at the U.S. Department of Energy (DOE)," successfully lobbying for $12 billion allocated in the Bipartisan Infrastructure Bill in 2021 for "carbon management research, development, and demonstration."
Exxon also lobbied for the increased rate of the 45Q tax credit in the IRA and "played a 'central role' in drafting a 2019 DOE-sponsored report on carbon capture that determined Congress would need to create an incentive of around $90 to $110 per ton to support carbon capture deployment," according to OCI.
The Guardian on Thursday reported that Exxon still "chases billions in U.S. subsidies for a 'climate solution' that helps drill more oil," describing how the oil giant hosted an event at the Democratic National Convention earlier this month where senior climate strategy and technology director Vijay Swarup praised the IRA for helping Exxon pursue carbon capture and said: "We need new technology and we need policy to support that technology. We need governments working with private industry."
Exxon's enthusiasm for carbon capture, said OCI, is an example of how "the fossil fuel industry delays climate action, distracts from real solutions that would end the fossil fuel era, and does everything in its power to squeeze the last drops of profit from a dying industry, at the expense of all of us."
"Instead of fossil fuel profits, Democrats must prioritize making the world a healthier, more equitable place," said DNC member RL Miller, who disrupted the event declaring "Exxon lied and people died."
Climate campaigners on Wednesday called out and even disrupted a Punchbowl News event on the sidelines of the Democratic National Convention in Chicago because it was sponsored by fossil fuel giant ExxonMobil.
"Companies like Exxon should have no place at the DNC," said Sunrise Movement communications director Stevie O'Hanlon in a statement. "Exxon has spent decades misleading the public about the climate crisis and buying off politicians. If the Democratic Party wants to be taken seriously by our generation on climate change, they need to walk the talk."
Oil Change U.S. political director Collin Rees pointed out that "no major oil and gas company is pledging to do the bare minimum to prevent climate chaos."
"Fossil fuel companies like ExxonMobil are moving in the opposite direction of the Democratic Party, whose platform is clear on the need to end public money for oil and gas production," he continued. "ExxonMobil continues to invest billions in new oil and gas, all while spreading misinformation and lobbying against meaningful climate policies. Exxon should have no platform at the DNC."
Rees joined DNC member RL Miller of California and Climate Defiance in disrupting the Wednesday event. Video shows that as Miller was escorted out by men who appeared to be security, she explained that "I am here because Exxon lied and people died."
"We call on party leaders and attendees to end the involvement of fossil fuel companies like ExxonMobil in the political process."
Congressional, journalistic, and scholarly research has exposed how ExxonMobil knew decades ago that fossil fuels would drive climate chaos but continued to cash in on their products anyway while spreading disinformation. The company is included in various climate liability lawsuits and some Democrats on Capitol Hill have recently demanded a federal probe.
Ahead of the Wednesday action, Miller, the political director of Climate Hawks Vote, highlighted the close ties between the fossil fuel industry and the Republican nominee, former President Donald Trump—who earlier this year told a room of Big Oil executives that he would roll back the Biden-Harris administration's climate policies if they invested just $1 billion into getting him elected.
"ExxonMobil and Donald Trump have already committed to each other—so why is the company sneaking around the DNC?" she asked. "We call on party leaders and attendees to end the involvement of fossil fuel companies like ExxonMobil in the political process."
Miller specifically directed pressure at the Democratic nominee, Vice President Kamala Harris—who has broad support from the climate movement—and her running mate, Minnesota Gov. Tim Walz, who has also been welcomed by green groups, despite his record on the Line 3 pipeline and Indigenous-led opposition to it.
"Instead, our government must deliver clean, affordable energy that is tailored to our communities, supports workers to transition to new jobs, and helps regions that have been deliberately sacrificed to toxic pollution and climate chaos," she said. "Instead of fossil fuel profits, Democrats must prioritize making the world a healthier, more equitable place and electing Kamala Harris and Tim Walz to hold the fossil fuel industry accountable."
The Punchbowl event featured a "pop-up conversation" with Congresswoman Lizzie Fletcher (D-Texas) and Vijay Swarup, ExxonMobil's senior director climate strategy and technology. The daylong event also had an appearance by Sen. John Hickenlooper (D-Colo.) and other sponsors included Duke Energy.
In response to the news outlet sharing a photo from the event on social media, Miller said: "Yeah. That's what I disrupted and I'd do it again in a heartbeat."
"The DNC is devoted to solving the climate crisis, not propping up DINOs like Lizzie Fletcher," she added, using the shorthand for "Democrat in name only."
Climate Defiance blasted Fletcher—first elected in 2018—in a series of posts, highlighting that she has taken hundreds of thousands of dollars from the fossil fuel industry during her career.
"Lizzie co-chairs the Natural Gas Caucus, and, since that isn't enough, also belongs to the Oil and Gas Caucus as well. She literally cannot get enough of her fossil fuels," Climate Defiance said.
"Lizzie's voting record is garbo. Utter garbo," the group continued. "She voted AGAINST the bill cracking down on Big Oil's price gouging. She voted AGAINST a bill requiring companies to merely disclose their climate risk. She voted AGAINST the bill protecting the Arctic National Wildlife Refuge."
Kate Aronoff, a climate reporter at The New Republic, took aim at Punchbowl—which has previously faced criticism for allowing fossil fuel interests to buy advertising in its newsletter—with a sarcastic response to the social media post.
The event came just two days after the Democratic Party platform was finalized. Lukas Ross, deputy climate and energy director at Friends of the Earth Action, pointed out Wednesday that "the DNC platform rightly calls for the repeal of $110 billion in fossil fuel subsidies that have lined Big Oil's pockets for decades."
"Dinosaurs like ExxonMobil are scared of losing their precious tax loopholes under a Harris administration," he said, nodding to revelations from a Greenpeace reporter posing as a corporate recruiter while speaking with an Exxon leader in 2021. "Any fossil fuel company looking to peddle influence in Chicago should be shown the door."
"Do you have any idea how easy it is to get you off our backs with a little bullsh*t about your responsibilities to the planet?"
A new parody ExxonMobil advertisement released Tuesday by a group founded by Adam McKay—the Academy Award-winning writer and director of the blockbuster doomsday climate comedy Don't Look Up—mocks humanity for letting Big Oil get away with causing one of the biggest existential threats of all time.
"There's a world we all want to live in again. A world where the air is pure and crisp and clean and fills your lungs with joy. A world where you can drink water from any river or creek and your house will still be there tomorrow if it rains," the narrator of Yellow Dot Studio's latest parody video says in the two-minute clip. "Here at Exxon, we believe in that world, and we're working hard to make sure that our customers believe that we believe in that world."
"We understand the road has been bumpy, and we haven't always done the best we could," he says over footage of the Exxon Valdez disaster, in which more than 10 million gallons of crude oil were spilled in Alaska's Prince William Sound in 1989.
Wow, this new Exxon ad is surprisingly candid. pic.twitter.com/FYEf2GNdGE
— Yellow Dot Studios (@weareyellowdot) July 9, 2024
The voice-over continues:
Sure, our own scientists accurately predicted climate change 60 years ago. But we didn't want you to know about it. That's why we spent billions on ads and media manipulation covering it up, then we rigged the government so leaders in both parties would do our bidding, and yes, we did everything in our power to block clean energy tech so we could keep force-feeding you oil via expanding global infrastructure, monstrous vehicles, and disposable plastics and chemicals that don't go away. Ever.
The video follows the recent conclusion of a bicameral Senate investigation into Big Oil's decades of spreading climate disinformation and obstructing a green transition—after which lawmakers called on the U.S. Department of Justice to investigate fossil fuel giants. There is also a nascent movement urging state and local prosecutors to go after the oil and gas industry for climate-related deaths.
"And yes, every now and then you squawk about how evil we are, but then we drop gas prices a nickel and you shut right back up," the narrator says. "Do you have any idea how easy it is to get you off our backs with a little bullshit about your responsibilities to the planet? About your carbon footprint? Pretending plastic recycling actually makes a difference?"
"You're letting us get away with it, you dumb bitches" he adds mockingly. "All of our tricks worked. The world is a burning, out-of-control charnel house. The last generation to die of old age has already been born, and you still let oil executives freely show their face in public."
"We're just one company but you're 7 billion people," the video concludes. "Get off your asses and do something, you fucking peasants!"