In this episode of A People's Climate, host Shilpi Chhotray speaks with John Beard Jr., a former refinery worker of 38 years who founded the Port Arthur Community Action Network. The conversation follows the massive March 2026 explosion at the Valero refinery in Port Arthur, Texas, and links global oil decisions, including U.S. policy on Venezuelan oil, petrochemical expansion and demand for plastics, to local pollution and health risks. They examine who benefits from the fossil fuel economy, who bears its risks, and what a just transition away from fossil fuels would require to protect workers and communities.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Fighting for Our Lives in Fossil Fuel Country With John Beard Jr .
Read the original on thenation.com ↗
Keywords
oil pricesenergy securityVenezuela
Open a keyword to see other news on the same topic.
Related news
- Chevron Just Hit a Record High. Is the Stock Still a Buy?
Chevron hit a record closing high of $222.04 on Oct. 14 and is trading about a dollar below that, up 45% in 2026. Brent crude is just under $106, 46% above its level before the war in the Persian Gulf, and Chevron is positioned to benefit from a Venezuela deal giving the U.S. control of more than 65 billion barrels of proven reserves, as it was the only American major to keep operating there after 1999. The company is also expanding in the Eastern Mediterranean, with seismic work planned off Greece. Second-quarter net income reached $12.1 billion, nearly 400% above a year earlier, beating estimates by $0.50 a share at $6.06. The author believes the stock is still a buy, with 20 of 25 covering analysts rating it Buy or Strong Buy ahead of the Oct. 30 Q3 report.
- SAMA Governor : Saudi Infrastructure Sustains Oil Supplies , Regional Trade Amid Conflict
Saudi Central Bank (SAMA) Governor Ayman Al-Sayari said the Kingdom's diversified energy infrastructure and logistics networks have helped maintain oil supplies and regional trade despite the Middle East conflict, speaking at the IMF's IMFC meeting in Bangkok. He stressed that energy security depends on reliable and affordable delivery, and called for sustained investment across the energy supply chain. He said Saudi banks remain well capitalized with robust liquidity, and that Vision 2030, now in its tenth year, has strengthened the economic foundations. He also urged the IMF to implement recent institutional reforms, reiterated Saudi Arabia's $279 million capacity development pledge, and flagged risks from volatile capital flows and rising sovereign bond yields.
- The Diesel Crunch Will Persist Well Into 2027
Even as crude oil flows out of the Strait of Hormuz recover, the global diesel shortage persists because refinery output in the Middle East and Russia remains constrained and other suppliers cannot fully offset the loss. Diesel prices hit records in mid-September, and the G7's promised release of 100 million barrels offers no easy fix. The IEA expects the crunch to extend into mid-2027, as gasoil supply falls short of demand and inventories are unlikely to be rebuilt before the second half of 2027. Global diesel exports fell 700,000 bpd in September from a year earlier, and diesel accounts for 25% of the expected 2.6 million bpd drop in global oil demand this year. Diesel prices have eased from September's peak above $200 a barrel but remain nearly double crude prices.
- Brent crude hovers near $109 a barrel as Ukraine resumes energy strikes, tankers attacked in Middle East
Crude oil prices hovered near recent highs on Sunday as traders weighed Ukraine's strikes on Russian oil facilities and more tanker attacks in the Persian Gulf. Brent fell $1.04 to $108.82 a barrel, while U.S. West Texas Intermediate lost 26 cents to $101.15. Fires broke out at an oil terminal and depot in St. Petersburg after a massive Ukrainian drone attack; the terminal exports about 120,000 barrels per day of refined products, but the extent of the damage is unclear. Ukraine had briefly paused energy strikes after Trump announced a truce on Oct. 11, but Russia kept hitting Ukrainian energy infrastructure, so Zelenskyy said Kyiv would resume strikes on Russian facilities. Two tankers were also attacked off Saudi Arabia on Friday, according to UKMTO, amid Iran's escalating attacks on tankers aimed at choking off regional crude exports.
- Defending Saudi Arabia is essential to protecting the global economy
The article argues that Saudi Arabia's security is a strategic concern for the global economy, as attacks on airports and oil refineries threaten energy supplies worldwide. On October 10, a Houthi missile reportedly struck King Khalid International Airport in Riyadh, killing 13 people and injuring more than 300. With the Strait of Hormuz disrupted during the Iran war, the East-West Pipeline became a key alternative route, carrying about 4 million barrels per day before drone attacks forced its temporary closure in September. The piece says geopolitical risk pushed Brent above $100 per barrel, burdening consumers and airlines, and it cites Greece's Patriot deployment as a model for partner contributions, calling for a broader, shared defense effort.
- Arab News | Saudi energy investments helped cushion global economy from shocks , finance minister says
Related markets
Latest news
- Palantir, Datadog and chip stocks bounce back as Amazon lifts Wall Street
Tech stocks rebounded Monday even as most of Wall Street stayed weak. Palantir (PLTR) and Datadog (DDOG) each gained over 4%, with chip stocks also recovering from last week's losses. Bernstein upgraded Datadog on stronger AI-related demand, while Palantir announced a government-cloud partnership but faced a potential selling zone around $195–$200. Amazon (AMZN) rose 5% after Morgan Stanley named it a top pick, helping the Nasdaq Composite gain 1.1% and the S&P 500 add 0.4%. CoreWeave (CRWV), however, finished slightly lower at $61.12, just above its July closing low of $60.82, and nearly two-thirds of S&P 500 stocks fell.
- Prediction: Visa Will Be a $1 Trillion Company by 2030
The author predicts Visa, currently valued at $752 billion with shares at record highs and up 15% in 2026 as of Oct. 16, could reach a $1 trillion market cap by 2030. Growth drivers include the shift to digital payments and value-added services, whose revenue rose 36% year over year to $3.8 billion in the fiscal third quarter (ended June 30) and makes up 33% of the business. Visa's net profit margin of 48% compares with a 17% average for the S&P 500. Consensus estimates see EPS growing at a 14% compound annual rate from fiscal 2025 to 2028, and at 12% it could reach $21.37 by fiscal 2030. The author believes that even if the 34.6 P/E falls to 30, the market cap would still exceed $1 trillion.
- This Nvidia-Backed Cloud Computing Firm Is Reportedly In Talks To Sign A $45B Compute Deal With Anthropic
According to Bloomberg, Anthropic is in advanced talks to acquire about $45 billion of computing power from Nvidia-backed Nscale, centered on a second building at Nscale's Monarch campus in West Virginia that is slated to deliver 460 megawatts using Nvidia's Vera Rubin chips. Final terms are not set, and an agreement could come within days; both companies declined to comment. The site was first intended for Microsoft, which withdrew after signing a preliminary letter of intent. Anthropic already has infrastructure commitments with Nscale worth about $44.6 billion, according to filings tied to Nscale's upcoming public offering. Nscale closed a $3.36 billion pre-IPO round led by Third Point and is targeting a $30 billion valuation for its debut.
- Why CoreWeave's Struggles Could Weigh Down Nvidia's Stock
CoreWeave (CRWV) shares crashed last week over concerns about rising interest rates and its heavy debt load. Because Nvidia (NVDA) is a key customer and has invested billions in CoreWeave, the article argues its own stock could suffer if confidence in CoreWeave weakens. Nvidia has fallen about 2% over the past month, while CoreWeave is down well over 20%. The article notes Nvidia trades at a forward P/E of 25 and a PEG of about 0.48, well below the 1.0 cutoff, but its valuation depends on future growth, which could be questioned amid rising rates and competition from in-house chips.
- SpaceX Wants a 32-Mile Pipeline Tied Into Energy Transfer's and Kinder Morgan's Florida System. Does It Matter for Either Pipeline Stock?
On Oct. 6, the Florida Public Service Commission approved a transportation tariff for SpaceX subsidiary Coastal Connect Services to build a 32-mile pipeline in Brevard County linking to the Florida Gas Transmission Network, a roughly 5,300-mile system jointly owned by Kinder Morgan and Energy Transfer. The line will supply natural gas for Starship launches at Cape Canaveral, replacing hundreds of LNG truck deliveries, and SpaceX will build and own it. The article calls the deal small for both companies, which need only provide interconnection and offtake rather than fund construction. Energy Transfer transports about 30% of U.S. natural gas and Kinder Morgan about 40%, roughly 70% combined. Kinder Morgan yields around 3.5% and Energy Transfer around 6.8%, though Energy Transfer's MLP structure receives different tax treatment.
- Tether: Senator's investigation misses positive work that's led to lower Iran volumes
Tether CEO Paolo Ardoino says a recent Senate Democrats report, led by Senator Richard Blumenthal, missed the company's work to enforce sanctions. He claims Tether froze suspicious addresses on average 4 weeks before OFAC and NBCTF sanction designations, and before Chainalysis labelled them in 99% of cases since 2023. Ardoino says these actions led to Iran-linked stablecoin volumes declining by 94%. The Senate report, which described Tether as providing a significant financial lifeline within Iran's shadow banking network, said the company did not comprehensively freeze flagged wallets before 2024. Blumenthal is also probing Tether's relationship with its U.S. financial partner, Cantor Fitzgerald.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.