Tag: BP

Commentary: Energy Companies Are Finally Backtracking on Their Absurd Green Goals

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Is the public finally waking up to the inherent absurdities taking place in the energy space in the U.S. and across the Western world in recent years? Recent votes taken on ESG and climate change-related shareholder initiatives at major oil company annual board meetings indicate that may well be the case.

Though it has received scant attention across the legacy news media in general, the Financial Times reported recently that such shareholder initiatives were overwhelmingly rejected by shareholders of both ExxonMobil and Chevron, with most receiving less than 10 percent support. Similar initiatives in the previous few years would typically generate support in the 30-40 percent range, with a handful even gaining majority support.

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Ohio Republican Politicians Announce Candidacy to Unseat Democratic Congresswoman Marcy Kaptur

Hannah Poling

Two Ohio Republican candidates have announced their candidacy to run for Ohio’s 9th Congressional district in 2024. U.S. Congresswoman Marcy Kaptur (D-OH-09), who is currently in that seat, is serving her 21st term in Congress.

Former Republican Mayor of Walbridge Dan Wilczynski was the first contender to enter the running last week, announcing his candidacy with the focus of finally defeating America’s longest tenured Congresswoman Kaptur.

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Oil CEOs See Massive Bonuses amid Record Profits

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The pay packages for the chief executives of British oil giants BP and Shell skyrocketed in 2022 after the oil titans posted record profits off the back of high gas prices last year, Reuters reported Friday.

The salary of BP CEO Bernard Looney climbed to roughly £1.3 million, while performance-related bonuses and stock awards climbed to £10.03 million, to a total of £11.33 million in compensation, more than two and a half times the £4.46 million he earned in 2021, the company announced Friday. BP —which lagged behind its American competitors in 2022 despite a record profit of roughly $28 billion — has drawn criticism from activists for cutting its green investments and reinvesting in gas and oil, Reuters reported.

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Oil Hits 11-Year High as Big Oil Dumps Russia, White House Mulls Energy Sanctions

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The price of crude oil touched its highest level in nearly 11 years on Wednesday amid the ongoing Ukraine crisis which has roiled energy markets.

The WTI index, the U.S. benchmark index, surged to $112.09 per barrel, its highest level since May 2011, early Wednesday before receding near $108 per barrel, marketplace data showed. The global Brent crude benchmark approached $114 per barrel then dropped below $111 a barrel.

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Court Memos Shed Light on Michael Bloomberg’s Role in NYC’s Climate Crusade

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by Chris White   One of the attorneys attached to former New York City Mayor Michael Bloomberg’s environmental nonprofit was heavily involved in litigation targeting ExxonMobil, according to a document obtained by The Daily Caller News Foundation. Gavin McCabe, a lawyer connected to Bloomberg Philanthropies, signed an amicus brief in June supporting New York City’s yearlong climate lawsuit against Exxon and Chevron. He’s one of at least eight attorneys hired by attorneys general across the country to work on environmental litigation. Bloomberg founded Bloomberg Philanthropies in 2017 in part to provide attorney general (AG) offices with attorneys to help push green energy policies. McCabe’s involvement suggests Bloomberg’s money is playing a role in the anti-Exxon campaign. He made himself a part of the lawsuit demanding energy companies compensate the city for the alleged damages from man-made global warming. U.S. District Judge John Keenan dismissed the case in July after months of arguments. The city’s lawsuit is the third such claim brought against oil companies Exxon, Chevron, BP, Royal Dutch Shell and Conoco Phillips. Another judge in Northern California struck down identical lawsuits in June brought by the cities of San Francisco and Oakland. The legal maneuvers are a boon for trial lawyers as…

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