DeepSummary
The podcast episode begins with a discussion about a survey for listeners to provide feedback on their occupations and interests to help the hosts create more relevant content and find suitable advertisers. The hosts joke about potential listener professions before introducing the guest, Gavin Bade from Politico, who covers energy and utilities.
The conversation then shifts to Gavin's reporting on the clash between oil companies and utilities over electric vehicle infrastructure. Oil industry groups are lobbying against utility plans to deploy EV charging stations, fearing a threat to their business from increased EV adoption. The hosts discuss the potential for a political battle between the two industries as the transition to electric transportation accelerates.
In the second half, the discussion focuses on the legal challenges faced by fossil fuel companies like Exxon over their role in climate change and alleged deception of investors. The hosts explore the nuances of different lawsuits, the evolving science of attributing emissions, and the potential consequences if oil majors lose cases, including public perception and financial penalties.
Key Episodes Takeaways
- Oil industry groups are increasingly lobbying against utility plans to deploy electric vehicle charging infrastructure, fearing a threat to their business from increased EV adoption.
- Utilities are embracing EV infrastructure deployment as a potential revenue opportunity and means to address climate change, setting up a potential clash with the oil industry.
- Fossil fuel companies like Exxon are facing a barrage of lawsuits from states and cities over their role in climate change and alleged deception of investors regarding carbon costs.
- While the legal merits of these cases are complex, even the disclosure of internal documents during the discovery process could damage the reputation and public perception of oil majors.
- The entrenchment of the global oil industry and its deep ties to governments, financial institutions, and national security make a rapid transition away from oil challenging, despite the legal and environmental pressures.
- The ongoing battles between the oil industry, utilities, and legal challenges highlight the intensifying conflicts and power dynamics surrounding the energy transition.
- Effective regulation, public pressure, and evolving market forces may ultimately shape the pace and extent of the shift away from fossil fuels, regardless of legal outcomes.
- Addressing climate change will likely require a multi-pronged approach involving policy, technology, and a realignment of various industry interests and incentives.
Top Episodes Quotes
- “I think what's really interesting here is the oil industry is very used to having a stranglehold on many proceedings in Washington, and they are used to getting their way when they go and they press state legislators and people like that. But they're coming up against perhaps the only other industry in the country in, at least in the energy realm, that is more powerful than them, especially on the state level.“ by Gavin Bade
- “Well, maybe they'll lose one other case, too, because the Massachusetts attorney general also just yesterday decided to file a climate suit against Exxon, too.“ by Catherine Hamilton
- “Yeah, so here's an issue which may not even have to do with winning or losing. And just remember, the Supreme Court just declined to review the cases. It doesn't mean that they would rule favorably one way or the other. You know, they just declined to review it. So that means that it is going to be handled now, for now in state court. But what happens now is that you have discovery, so all these documents have to come out and everything has to be aired and made public.“ by Catherine Hamilton
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Episode Information
The Energy Gang
Wood Mackenzie
10/26/19
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This week: it’s the oil industry versus the world.
We’re examining two legal battles for oil majors playing out in states. One involves electric cars and one involves responsibility for climate change.
We’ll start first with a story from POLITICO’s Gavin Bade. Advocacy groups backed by oil companies are increasingly lobbying against utilities that are trying to support electric vehicles. Are we seeing a coming political clash between the oil industry and utility industry?
We’re joined by Gavin, who’s been tracking these emerging challenges.
Then, we are devoting our second half of the show to the legal challenges against fossil fuel companies.
Exxon is on trial in New York and numerous other states and cities are bringing suit against oil majors. It’s got everyone paying attention to this very complicated yet riveting issue: as the science and legal arguments evolve, will big fossil fuel companies be held accountable for a warming planet?
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