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Oil companies need help paying to fix their mistakes

By
Hannah Glenn
August 24, 2018
6 min read
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Here are three things happening in the markets this week

Big oil makes a big ask

In a *very* bold move, big oil companies are asking the taxpayers of the world they're ruining to pay for protecting them against the consequences of the world they're ruining. From the report, money is being sought for an oceanfront project that “like other oceanfront projects, would protect homes, delicate ecosystems and vital infrastructure, but it also has another priority — to shield some of the crown jewels of the petroleum industry, which is blamed for contributing to global warming and now wants the federal government to build safeguards against the consequences of it.”

Read the full report here.

What this means for you: Pay attention to what pops up on your local ballots. While the initial ask might make us all roll our eyes, it’s probably a worthwhile investment in infrastructure. We’re making big strides toward phasing out fossil fuels, but the fact of the matter is that we’re still quite dependent. Even though it’s unfair to chide taxpayers to foot the bill for a band-aid to the problem that you’ve created, resisting it won’t make the problem go away.

Sustainability is big business

Amid growing awareness about climate change and a consequent shift in consumer behavior, brands are increasingly selling more sustainable goods. From vegan footwear to recycled denim and organic toothpaste, the offer to consumers is growing — but such items are often more expensive than their non-sustainable equivalents.

Read about one shop on CBC.

What this means for you: Options! It’s not strange at all to bring your own bags to the store, your own cup to the coffee shop, or to go strawless at the bar. Putting resources first should be the norm and we’re moving in that direction.

One more store bans plastic

The nation’s largest retail chain, Kroger, banned plastic bags. Kroger Co. will start Thursday at its QFC stores in and around Seattle, with the goal of using no plastic bags at those stores at some point next year. The company said it will be plastic-bag free at all of its nearly 2,800 stores by 2025.

Kroger Co. orders about 6 billion bags each year for its stores in 35 states and the District of Columbia, which cater to almost 9 million people daily through two dozen different grocery chains.

Read the full story at People.

What this means for you: Don’t forget your bags. You still have the option to purchase plastic bags if you really want to, but you shouldn’t. According to a 2016 New Plastic Economy report, it is estimated there will be more plastic in the ocean than fish by the year 2050.


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