NMBI legislation would stop any new coal or gas - fired power stations being built, and stop any new fossil -
fuel extraction projects, but the resultant market certainty would encourage new renewable energy generation and storage projects to quickly meet any potential future shortfall.
Banning new fossil
fuel extraction projects would indeed affect future export income since it is likely that any new extraction would be for export.
Australia can develop new climate - safe exports to make up for forgoing potential future export income that might accrue from new fossil
fuel extraction projects.
But climate campaigners are calling for a ban on all NEW fossil
fuel extraction projects, and it is the new projects that receive the heaviest subsidies from state governments.
Banning new fossil
fuel extraction projects would indeed affect future export income since virtually all new extraction would be for export.
If all new coal and gas extraction projects are slated for export, why do state and territory governments even consider allowing new fossil
fuel extraction projects despite the climate imperative of keeping fossil fuels in the ground, and despite often fierce community opposition?
Jobs and local procurement New fossil
fuel extraction projects generate jobs and, in the case of foreign - owned fossil fuel companies, they also inject foreign funds into our economy via wages and local procurement of goods and services.
Note that NMBI legislation would ban NEW fossil
fuel extraction projects and the resultant new export agreements, but adoption of NMBI legislation would not affect current export income.
It's largely the prerogative of state and territory governments to approve or reject proposals for any specific new fossil
fuel extraction project.
Not exact matches
The report argues that over the next 20 years investments in new fossil
fuel extraction and transportation
projects are forecasted to be about $ 14 trillion.
The campaign launched last week with a letter demanding that Brown halt the development of all new dirty
fuel projects in California, create a plan to phase out all fossil
fuel extraction as quickly as possible and provide support and opportunities for those most impacted by the transition.
What: Activists will greet Gov. Brown with banners outside his scheduled appearance at the National Press Club to demand an end to new fossil
fuel projects in California and a plan to phase out the state's dirty
fuel extraction.
Indeed the Keystone XL
project is extreme and unjust, as is everyfossil
fuel project and every piece of the
extraction economy.
It can be a ban on all new fossil
fuel projects of any kind or it could focus on exploration,
extraction, transportation, generation — or even the use of your local natural resources like water for use in fossil
fuel projects.
Unlike Brown, however, Newsom supports a ban on future oil and natural - gas
extraction projects that involve fracking, a process that injects high - pressure liquid into rock formations to free up fossil
fuels.
Friends of the Earth Europe
projected imagery from the 2010 Deepwater Horizon disaster onto Norway House in Brussels, turning it into a virtual beacon and warning of the dangers of fossil
fuel extraction, especially in pristine environments like the Arctic.
Even if they meet those targets, any actual climate benefit could be more than wiped out by the climate impacts of the fossil
fuels exported from the NEW
extraction projects they continue to approve in the meantime.
No new fossil
fuel extraction is needed for use within Australia so new
extraction projects simply mean more fossil
fuel exports.
«This environmental injustice derives from federal allowance of extreme
extraction projects which divert the U.S. from our climate change goals, disrupting a remotely pristine ecosystem and culture, all while continuing our dependence of fossil
fuels.
By divesting their assets from fossil
fuels, they are reducing the ability for big oil, coal and gas companies to develop new
extraction projects, while citizens worldwide are rising to stop these
projects in their communities,» said Yossi Cadan, Global Divestment Senior Campaigner at 350.org.
Activists will greet Gov. Brown with banners outside his scheduled appearance at the National Press Club to demand an end to new fossil
fuel projects in California and a plan to phase out the state's dirty
fuel extraction.
Indeed the Keystone XL
project is extreme and unjust, as is every fossil
fuel project and every piece of the
extraction economy.
Slowing down fossil
fuel development also renders moot
projects that would spend big dollars on fossil
fuel exploration and
extraction, such as the Keystone pipeline.