An activist coalition is pressuring firms to stop promoting fossil fuel companies—some of which have advertised oil and gas as “climate friendly.”
Here is a completely true statement: Between 2015 and 2019, oil and gas firms doubled the share of their capital spending going to renewables and carbon-capture technologies. Here’s the chaser: That accounted for less than 1 percent of Big Oil’s overall capital investment, according to the International Energy Agency; 99 percent still went to oil and gas.
The additional context paints a very different picture of investments by fossil fuel companies in green energy. Now, as state and local courts sort through ongoing suits against Big Oil for misleading
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