The Secret of Oily Wells
Headquartered right here in the San Francisco Bay Area, Wells Fargo has been a significant financier of the fossil fuel industry for decades. During the fossil fuel era when we were mostly dependent of fossil fuels for electricity, cars, and our homes, Wells provided a valuable service to the growth of the fossil fuel industry.
Trouble is… Oily Wells won’t stop!!! But now, as the world moves away from dependency on oil, coal, and gas for burning, Wells Fargo continues to be, as they call themselves, “the largest lender to the traditional energy sector.” In their recent attempts at re-branding the bank’s tarnished image, Wells says they’ll provide $200B for renewable energy-related projects between now and 2030. Yes, but here’s the little secret...what they don’t tell us, is that during that same time period, they’ll continue to fund fossil fuel projects and companies in the $400-500B range. More pipelines, more tar sands extraction, more risk to indigenous peoples’ homelands, more drilling in sensitive ecological areas, and a lot more climate change as a direct result of their profiting from the fossil fuel industry.
We’ll see about that! We in the Silicon Valley have learned a lot from climate activists in the Pacific Northwest, who have successfully confronted Wells Fargo and other climate disaster-funding banks for years. Our first CLEAN Campaign series of Non Violent Direct Actions will be focused on Wells Fargo. We have close to 50 activists already (as of December, 2018) who have signed our Pledge of Resistance and are planning actions with the goal of convincing Tim Sloan and the Executive group and Board of Directors of Wells Fargo that it is not in the bank’s interest to continue supporting fossil fuel investments.
Sign the pledge of resistance and learn more about how you can expose Oily Wells’ Secret
Meet Oily Wells
- One way to shine a spotlight on Oily Wells’ secret is through social media. He’ll be starring in a short animated video to be released early in 2019.
- Oily will appear in person at actions at numerous Wells Fargo branches throughout Silicon Valley.
- When we organize marches and other actions focused on Wells, he’ll be leading the procession, along with images of the key decision makers at Wells Fargo.
Oily, Step One is Stop Funding Line 3
We think Wells Fargo would go a long way toward their goal of re-branding their public image if the bank showed leadership by stopping the funding of Enbridge’s Line 3. Just like the Keystone XL pipeline, Line 3 is a massive attempt by Canadian oil interests to get tar sands across our northern border, this time to the Great Lakes.
If Line 3 were ever built, and its daily flow of 176,000 barrels of tar sands were refined at the average rate of 20 gallons of gasoline per barrel, 152,000 TONS of CO2 would be dumped DAILY into our atmosphere!
We want Wells Fargo to stop making loans to Enbridge, the pipeline builder contracted to build the $7.9B pipeline, their biggest project ever. That’s a good first step.
Be the leader you say you want to be, Oily! Until your policies and plans reflect a defunding of Line 3, your customers and potential customers in Silicon Valley will learn more and more about your little secret.