Economy & Business

Climate an ‘Emerging Threat’ to U.S. Financial Stability: Regulators

"Federal regulators warned for the first time in an annual report to Congress on Friday that climate change was an “emerging threat” to the U.S. financial system, laying out how the costs associated with more hurricanes, wildfires and floods caused by global warming could lead to a cascade of damage throughout the economy."

Source: NYTimes, 12/20/2021

Manchin Rejects Landmark Bill, Putting Biden’s Climate Goals at Risk

"The declaration from Senator Joe Manchin III that he cannot support his party’s $2.2 trillion Build Back Better bill has significantly dimmed the prospects for the climate action that scientists say the United States must take to avert the most catastrophic effects of global warming."

Source: NYTimes, 12/20/2021

"The U.S. Has So Many Oil Pipelines, Half of Them Are Sitting Empty"

"If you’re in the market for an oil pipeline, you’re in luck—we’ve got a lot of extra ones right now. About half of the oil pipelines in the U.S. are sitting unused, energy research firm Wood Mackenzie said in figures shared with Reuters Thursday."

Source: Earther, 12/17/2021

Sen. Warren Asks SEC To Investigate Compensation At Fossil Fuel Giants

"Sen. Elizabeth Warren called on the country’s top securities regulator to examine the pay practices of large energy companies, citing a report in The Washington Post that revealed how some fossil fuel giants reward executives for meeting environmental goals even in years when their companies caused significant environmental harm."

Source: Washington Post, 12/16/2021

Democrats’ $2 Trillion Spending Plan In Political Peril As Talks Snag

"A push by Senate Democrats to pass a roughly $2 trillion tax-and-spending measure before Christmas appeared in dire political peril Wednesday, as talks soured between President Biden and Sen. Joe Manchin III (D-W.Va.) over the size and scope of the economic package."

Source: Washington Post, 12/16/2021

Challenging Another Year of Oil Company Promises

When disinformation pollutes the debate over the environment and climate change, it’s on journalists to recognize industry PR spin and push back against misleading narratives and false narratives, argues the latest WatchDog Opinion column. A look at the industry “playbook” to delay government action, at deceptive language on energy and news media’s obligation to approach the endless pledges skeptically.

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