Texas’ largest electric utility last night tentatively approved a record $45 billion takeover bid by two private equity firms in a deal hailed by environmentalists as a major turning point in the battle against global warming. The prospective owners of the TXU Corp. have told environmental groups that they would cancel eight of 11 coal plants proposed by the company and also back national legislation for mandatory reduction in carbon dioxide emissions.
Decision a blow to campaigners, who say the ads gave Saudi Aramco unearned climate credibility.
UKโs first parliamentary debate on the issue drew comparisons both with tobacco industry tactics and the industry's now widely accepted ad ban.
Labour's Jacob Collier warns parliamentary debate of "coordinated strategy" by oil companies to delay climate action.
Critics fear that Equinorโs latest UK education deal is aimed at quelling opposition to North Sea drilling.
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