Oil industry's energy transition goals are at odds with Paris Agreement

  • 📰 axios
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

The climate science findings are not subtle about what the energy transition means: a rapid, sustained shift away from fossil fuels. It means different things to the oil and gas CEOs and the Biden administration.

found the world only has nine years left at 2022 emissions levels before the 1.5°C temperature target is reached.

Many executives here have talked about expanding their fossil fuel output while also investing in cleaner energy technologies. Nawaf Al-Sabah, the deputy chairman and CEO of Kuwait Petroleum Corp., said his firm plans to raise output by 1 million barrels of oil equivalent per day by 2035, citing the relatively low carbon intensity of its oil supplies.is that in an increasingly carbon-constrained world, producing fossil fuels in ways that emit fewer, though not zero, greenhouse gases would be a wise business move.

She pitched oil and gas companies on using their resources, from brainpower to machinery, to make advances in producing renewable energy.Ernest Moniz, energy secretary during the Obama administration who now leads the Energy Futures Initiative, told Axios the oil and gas industry and policymakers are talking past one another on the energy transition.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ain't going to happen. Will remove these bafoons in 2024 and bring back cheap and reliable fossil fuels. F the greedy green energy companies.

Okay well idk what to tell you but the transition will be neither “rapid” nor “sustained”. Nobody cares if the dementia patient you elected says there’s 10 years left to O&G. It’s more like 50-100 years. Please join us in reality and leave this green fever dream behind

If climate change activists are serious about advancing their goal- best to focus on activities they can control e.g., fossil fuel demand reduction? What measures can average Americans do? Education vs fear mongering?

One gets the distinct feeling that at this point anything we do will be too little, too late. And if that's not the case, there are still no excuse for gas and oil companies to continue business as usual.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 302. in BUSİNESS

Business Business Latest News, Business Business Headlines