fossil fuels

Alberta, Canada - contaminated water from tar sands oil production fills a 2 km wide 'tailings' pool © Greenpeace

Last month our Emerald Paintbrush award presented to BP highlighted how far the company, which previously styled itself as going 'beyond petroleum', has moved back to its traditional profit source at the expense of its alternative energy division, and most likely its long-term profitability.

Investors may have been patting themselves on the back yesterday as BP posted record profits for 2008, but they should be wary - a quick trawl through the figures reveals major flaws in the company's long term investment strategy. Massive profits during the first half of the year (when oil prices reached over $100 per barrel) were undermined by a collapse in the final quarter, when prices fell back to around $40 per barrel.

Ed Miliband demonstrated the confusion at the of the heart of the government's energy and climate change strategies this morning when he refused to rule out new coal plants which don't capture and bury their emissions – just weeks after his own advisers warned there was no future for these power plants.

He attacked Conservative plans for the introduction of green standards for power stations that would rule out the dirtiest coal plants like E.ON's for Kingsnorth, as "knee jerk" and "not thought through". Apparently, he's happy to play party politics with coal and climate change, just days after he called for a people-powered movement on global warming. Hardly the way to inspire action on the most important issue of our time.

The tension built as the judges deliberated. Then at last the results were were all in and - ta-da! It was time to announce the winner of the first annual Greenpeace 'Emerald Paintbrush' award for greenwashing above and beyond the call of duty. Cue a quick roll on the drums, and step forward into the spotlight - BP!

The energy corporation with an income larger than most of the world's nation states has spent a lot of time and money restyling itself as being 'Beyond Petroleum' in recent years, but a trawl through their accounts quickly reveals just how empty that assertion really is - 'Back to Petroleum', more like it.

If we're to avert catastrophic climate change the world must quit coal. But the industry and the powerful forces which rely on it won't go down without a fight. Yesterday, in Warsaw, Greenpeace provided them with two reminders of why we all need to quit coal.

Here's the latest in the Deep Green column from Rex Weyler - author, journalist, ecologist and long-time Greenpeace trouble-maker. The opinions here are his own.

As the era of cheap liquid fuels draws to an end, everything about modern consumer society will change. Likewise, developing societies pursuing the benefits of globalization will struggle to grow economies in an era of scarce liquid fuels. The most localized, self-reliant communities will experience the least disruption.

Oil is a fixed asset of the planet, representing stored sunlight accumulated over a billion years as early marine algae, and other marine organisms (not dinosaurs) captured solar energy, formed carbon bonds, gathered nutrients, died, sank to the ocean floors, and lay buried under eons of sediment. Like any fixed non-renewable resource, oil is limited, and its consumption will rise, peak, and decline.

See all Climate Camp updates.

This summer's Camp for Climate Action takes place next week at Kingsnorth in Kent, where German utility company E.On aims to build the UK's first coal-fired power station for decades. If the government gives the go-ahead, which could happen in October, the CO2 emissions from this one new plant would equal that of the 30 lowest emitting countries in the world combined.

Coal is the most polluting of all fossil-fuels, and if Kingsnorth is built then plans for six similar plants are likely to be approved, emitting a colossal 50 million tonnes of CO2 into the atmosphere each year. So this decision is crucial, which is why activists from all over the country and around the world will be coming to make their voices heard.

Canada's Tar Sands project has been suffering from a bit of a PR problem, what with it being one of the most ludicrous and environmentally catastrophic schemes ever to have occurred to humankind and all.

(If you haven't heard of it yet, the plan is to extract crude oil from bituminous sand and clay in Northern Alberta. To produce one barrel of oil, up to four tonnes of rock and soil - plus the pristine boreal forest on top of it - need to be removed and four barrels of surface and ground water need to be used. The process is so energy intensive that tar sands produce up to five times more greenhouse gases than conventional oil.)