Justin Mikulka is a research fellow at New Consensus. Prior to joining New Consensus in October 2021, Justin reported for DeSmog, where he began in 2014. Justin has a degree in Civil and Environmental Engineering from Cornell University.
Comments from a recent energy industry conference reveal major financiers of fossil fuels view environmental and social investing concerns as a trend to โinoculateโ against but not a long-term threat to the industry.
U.S. oil fracking industry is asking investors to have faith that โbigger is betterโ to try to lure them back into risky shale investments.
Fracking companies arenโt drilling as investment continues to dry up.
The top oil trade group, which a senior Exxon lobbyist recently described as one of the company's "whipping boys," used similar delay tactics to push back against oil-by-rail safety rules.
An increasing number of investor lawsuits shine a light on how oil industry leadership has been demanding optimistic predictions of oil production that turn out to be fraudulent.
The accounting companies hired by oil companies to evaluate their inflated financial claims are on the hook from investors frustrated by the lack of accountability.
The fracking industry's over-the-top claims to investors have been the norm, but even when proven to be fraudulent, companies suffer almost no consequences.
More proposed rules to fix a broken regulatory system are a distraction from the real issue of the government failing to hold the oil industry accountable.
Banks and investors have given up on the U.S. fracking industry, which is bad news for current investors who waited too long to get out.
The total cost of decommissioning offshore oil wells around the world is expected to be over $100 billion by 2030.
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