The truth behind Big Oil and climate change (and what to do about it)

Start your weekly action steps by reading the following Bloomberg report (and if you want extra credit, check out this Motley Fool article). Both articles reference a leaked Exxon internal document. 

Note: Exxon put out a press release claiming that the Bloomberg report is misleading, but we’ll take our chances and stand by this report. You can read Exxon's statement here.

Here’s a summary:

• 🏭 Exxon has an ambitious plan... to increase fossil fuel production. Their own assessment of their $210 billion investment strategy shows yearly CO2 emissions rising 17% by 2025. Yes, rising

• 🚩 Exxon wants to compete with Greece. Their "ambitious" plan would increase their annual emissions by as much as the output of the ENTIRE NATION of Greece

• ⬆️ The number is an underestimate — Exxon wants to ramp up oil production. This would increase CO2 emissions by 21 million metric tons by 2025. This doesn't account for what they already emit. (Emission, more like omission, amirite?) Exxon's leaked documents estimate total emissions of 143 million metric tons of carbon dioxide equivalents in 2025

• 🤫 They're trying to sneak past you. They talk big game about their emissions reduction strategy, but that's to distract you from the fact that they emit WAY more than they reduce — the reduction is likely just a publicity play at this time

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However, we also need to acknowledge the history of this colossal problem. Only 20 companies have contributed to a third of all CO2 emissions. We let this happen because of politics and capitalism. Fossil fuel companies receive huge sums of money from the government. In the US, fossil fuel subsidies are greater than federal education spending. 

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There's good news, though. Exxon's competitors, such as Shell and BP, have committed to net-zero emissions targets by 2050 because of shareholder demands. Putting pressure on corporations works and it's one of the best ways we can take action as individuals. 

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This week's conversation starter

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This prompt is for you to ask your friends and family - especially if they're thinking about climate change less than you are. I'll share one every week.

Why do you think our weather patterns change from year to year? What's the wildest weather event you've experienced in your life?

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Who knew oil companies were responsible for covering up climate change? What a way to learn about climate deception. 

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The main video below has more facts, here’s a 3-minute one for #ConspiracyVibes. Honestly, it almost seems fake with all the eerie background music. I wish it was.

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Option 1: Watch the spooky video titled Big Oil Knew: The Confusion Memo. It's short and has a good timeline on how Exxon and its buddies created a decades-long cover up that's made its way to the American White House today.

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‍Option 2: Watch this other NowThis video "How Powerful is Big Oil?" I've embedded it below, and if you keep scrolling, I've included 3 facts to encourage you to watch.

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You'll learn that:

• 💵 Trillionaire, baby: Russia, Saudi Arabia, and the United States (in that order) are the largest global oil producers. The top 5 oil companies' revenues accounted for over 10% of US GDP — about 2 trillion USD! Yes, five companies' revenues made up a tenth of US GDP. If you're not from the US, that translates to "I'm so rich I can do whatever I want without consequences”

• 📜 Swaying elections is easy with enough money. Oil companies in 2016 gave ~$57 MILLION to the political campaign. As we know, the US presidential election has far-reaching global consequences. Oh, and over 50 of that million went to the Republican party
  
• 💰 Each year, approximately $4 BILLION in taxpayer dollars is given back to oil companies. Basically, oil companies are hella rich and they have seemingly unlimited political power. The money that they give to politicians is barely a cost to them because they get it right back

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We know it’s a bit doom and gloom, but we just want to let it sink in that we can only substantially fight climate change when we act on a corporate level. Those with corporate employers, don't worry. We'll help you make a plan

It's time to end our reliance on Big Oil. It'll take a while to get there, but we can start in 3 easy ways. 

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1. Divest from Big Oil. 

Do you have oil and gas stocks in your portfolio? Can you switch them out for renewable energy stocks and ETFs? Check out these recommendations or learn more here. 

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2. Switch your bank. 

A majority of investment banks likje Chase invest heavily in fossil fuels. We use Mighty Deposits to find a bank that works for us — instead of investing in dirty energy, our money is going towards building community and boosting small businesses. 

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3. Use less plastic.

‍We learned that crude oil and natural gas are the main ingredients in plastic. Keep up your fight against Big Oil by reducing single-use plastic — our habits have the power to add up and cascade to the source. Check out our tips to be plastic free here.

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From using our dollars to make responsible choices to changing our consumption habits, tackling Big Oil doesn’t have to be complex. In fact, there’s still many opportunities to say goodbye. 

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Before we go any further, it's time for you to pledge your commitment. It takes less than 30 seconds to pledge and we can bother you about it in a friendly way, so we can hold each other accountable. Pledge here!

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🎯 Action step 4 of 4: REFLECT — what can you commit to? What fresh perspectives can we look at?

There’s not just one, but more than 70 options to choose from! The following insights are from the International Association of Oil & Gas Producers. They're exalting the pervasiveness of oil in our everyday products and habits, and are showing us 72 ways it shows up in our routines. 

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That's 72 opportunities to think about replacing it! Click on the infographic below to go straight to their interactive website. You can hover over each thing and it'll tell you exactly how oil/gas are used.

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For example, here's what they say about clothing: "The most commonly manufactured fibers are petroleum based, such as nylon, polyester, acrylic, and spandex. Fabrics and materials created from petroleum keep us dry and warm in cold weather and cool in hot weather."  To kickstart your search, here’s a few ways to challenge Big Oil when shopping for new clothes.

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It’s difficult to admit that oil is an integral part of our daily lives, but identifying the problem is the first step in the right direction. We encourage you to drill deeper into this topic for more knowledge, NOT oil. 

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‍🏁 Checkpoint: This is the end of action step 4 of 4: REFLECT.

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Check out our membership community for more resources like free weekly events with social justice experts, sustainable product discounts, pre-written email templates, a social impact job board, and in-person hangouts with new friends. Thanks for taking action with Soapbox Project!