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Carbon Tracker

The oil industry isn't facing the coming reality of a low-carbon world, study argues.
On April 17 we Italians will vote on a referendum which aims to hinder oil drilling near our coasts. The Italian government instead forces new domestic drilling for reducing oil imports. Simply opposing oil rigs before our door is short-sighted if we keep on burning more and more oil, provided that it comes from distant countries.
This is the climate movement's moment to seize. It's a moment for the labour movement and climate movement to join together to demand investment in re-tooling and re-training workers to build the new economy. It's a moment to divest from dangerous fossil fuels like tar sands and reinvest in the solutions that are here and growing.
The IPCC Report was in the news for a couple of days and then disappeared from mass media news cycle. This is the largest crisis humanity has ever faced: Life on earth hangs in the balance. And yet the media attention given to Miley Cyrus twerking was infinitely greater than the coverage of the IPCC report.
Despite an international agreement to reduce emissions from carbon-intensive sources, oil and coal companies continue to pour hundreds of billions of dollars a year into finding new fossil fuel deposits containing enough carbon to more than double global climate pollution emissions.