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Fossil Fuel Companies Make Billions in Profit as We Suffer Billions in Losses: 2024 Edition

Union of Concerned Scientists

Last year, I wrote that fossil fuel companies made billions of dollars in profit during 2022 as people around the world suffered billions of dollars in damage from climate and weather related disasters. Above: Lahaina, Hawai’i after the devastating August 2023 wildfire that killed more than 100 people and destroyed 2,700 homes.

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TAXPAYER DOLLARS SHOULD NOT BE FUELING CLIMATE POLLUTION

Enviromental Defense

However, for decades governments have also provided oil and gas companies with significant subsidies and other types of financial support. Fossil fuel subsidies are hurting us Subsidies and public financing to oil and gas companies: Harm our health : Governments are propping up an industry that is killing us.

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Gregory L. Ebel: The Pipeline Pusher

Enviromental Defense

Ebel, the CEO of Enbridge, to our list of infamous Climate Villains – powerful people with fossil fuel interests holding Canada back from effective climate action. The executives behind the fossil fuel industry often avoid public scrutiny, which is why we’re shining the spotlight on their activities.

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PUC Approves Settlement In Peoples Gas Pipeline Over-Pressurization Failure That Damaged Hundreds Of Furnaces, Water Heaters

PA Environment Daily

On May 9, the Public Utility Commission voted to approve a settlement with a $250,000 civil penalty regarding the over-pressurization incident affecting the Peoples Natural Gas Company LLC distribution system in Robinson, Indiana County. The incident, which occurred on April 29, 2020, damaged both customer and utility-owned equipment.

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MethaneSAT-EDF Successfully Test Methane Detection Technology To Be Used To Document Methane Emissions From Onshore Natural Gas Production In North America

PA Environment Daily

The technology was tested in a jet aircraft and will later be deployed aboard a satellite launching in early 2024. Note: DEP has funded a methane overflight research study of its own to help identify methane emissions from oil and gas, coal mines and landfills. Read more here. Read more here.] onshore production.

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PJM Interconnection Formally Files Changes To Electric Capacity Market Rules With FERC Based Largely On Unreliability Of Natural Gas-Fired Power Plants During Winter Storm Elliot

PA Environment Daily

One of the most significant changes is "enhance resource accreditation" that would more accurately assess the reliability value of natural gas-fired power plants which accounted for 70% of the power plant outages in PJM during Winter Storm Elliot.

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Canada Stops Funding Some Fossils: A Milestone Worth Celebrating

Enviromental Defense

Last week the Government of Canada delivered on a longstanding commitment to end fossil fuel subsidies, effective immediately. Though the new rules are far from perfect, if they are applied with integrity they will make it impossible for the government to justify new public handouts to the oil and gas sector. That’s too late.