Phasing Out Fossil Fuels

Fossil Fuels in the Ground and Stop Expansion.

Begin responding to the climate crisis by stopping the problem from getting worse than it already is. A phase-out of fossil fuels should include a halt to all new permits for fossil-fuel exploration, production, and infrastructure, a phase-out of all subsidies to fossil fuels, and divestment of all public and private financial investments from the exploration, production, and distribution of fossil fuels. Fossil fuel companies should not receive government assistance or bailouts. Instead, any assistance should directly support impacted fossil fuel industry workers and communities (such as to diversify tax bases) and lay the groundwork for a just transition.

Target a Just Transition to 100% Renewable Energy.

During this transition, center people of color and frontline, indigenous, and low-income rural communities to ensure they receive the early benefits of a just transition. A just transition should include a managed decline of the fossil fuel industry and a phase-out of all existing fossil fuel production, accompanied by massive investment in clean energy. A federal jobs guarantee offering a green job for anyone who wants one, prioritizing programs for non-violent returning citizens who were previously incarcerated, could simultaneously lift communities out of poverty while transitioning our economy to 100% renewables.

Ensure That Polluters Pay the Full Costs of Their License to Operate.

To safeguard public funds from the risk of fossil fuel industry insolvency, and to ensure existing point-source risks are not externalized to frontline communities, local communities should secure the funds necessary from the fossil fuel industry, as a condition of industry’s license to operate, to ensure that the costs of adaptation, mitigation, and climate risk are not passed on to consumers or workers. They should secure these funds by requiring fossil-fuel risk bonds that protect public funds and prioritize them over the interests of secured creditors.

Ensure That Polluters Pay for the Cost of a Just Transition.

Ensure that the costs of phasing out fossil fuels are borne by the polluting corporations that have driven the crisis and obstructed solutions, and that those costs are not passed on to others, through appropriate bonding secured by public officials.

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