Putin's ability to wage war on Ukraine is paid for by global dependence on fossil fuels. Oil and gas constitute 40% of Russia’s national revenue, meaning Russian fossil fuels are literally funding this invasion.
But global sanctions on Russia’s economy area a crude instrument that hurts the Russian people more than dictators like Putin. And impacts are being felt not just in Europe —where electricity, heating, and food costs are soaring — but here in the U.S. as the price of oil and gas skyrockets. There’s already a shortage of food and medicine in some places. And as Biden himself noted, US imports of fossil fuels are much smaller than most of Europe.
Unless we aggressively reduce demand for not just Russian fossil fuels, but all dirty energy, the same fossil fuel profiteers will only be emboldened. There are already reports that US fossil fuel companies are gleefully reporting record profits as a result of the war in Ukraine, and giving out huge bonuses, dividends, and stock buy backs. Some CEOs were caught red handed making millions of dollars trading fossil fuel stocks on the day of the Russian invasion.
Biden can use the Defense production Act to weaken the geopolitical power of fossil fuels, address the climate emergency, and prevent further mass suffering.
Sign the petition to President Biden: Use the Defense Production act to ramp up the deployment of renewable energy.
Sincerely,
Drew and the 198 methods to fight fossil fueled fascism at home and abroad crew.
Body image adapted from USDOE loan office series