Oil and Gas Industry Takes Center Stage at COP28

It has been a splendid couple of weeks for the oil and gas industry. Over the decades, it has gone from being the scourge of international climate conferences to running the show in Dubai at this month’s COP28. The conference president this year, Sultan Al Jaber, is also CEO of the Abu Dhabi National Oil Company, and has been credibly accused of using his contacts at the global gathering to promote LNG projects.

Also, a record 2,456 oil company representatives from around the world are accredited delegates. Al Jaber insists he accepts an eventual phase-out of fossil fuels, but—as always with these events—solemn commitments are larded with convenient bolt-holes, vague language, extended deadlines, and a lack of serious enforcement measures. So whether delegates at COP28 (which ends on Dec. 12) ultimately endorse a phase-out, a phase-down, or an end to “unabated” oil and gas production—that is, production facilities that don’t employ carbon capture utilization and storage (CCUS) to trap and defuse emissions—hardly matter

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Greenhouse Gas Emissions from Alberta's Energy Industry Underestimated by Nearly 50%A new study from Carleton University's Energy and Emissions Research Lab reveals that emissions of a potent greenhouse gas from Alberta's energy industry are underestimated by nearly 50%. The study also highlights that oil and gas produced in the province emit significantly more methane for the energy produced compared to other jurisdictions. The findings serve as a warning to the industry, emphasizing the importance of reducing methane intensity to maintain market access.
Source: calgarysun - 🏆 63. / 52 Read more »

Top headlines: Court rulings force rethink of oil and gas emissions capThe Financial Post brings you the top business stories as they happen for December 1, 2023. Read on for breaking news you need to know.
Source: fpinvesting - 🏆 43. / 63 Read more »

Money Pledges and Saudi Arabia's Absence Take Center Stage at COP28Money pledges grabbed the spotlight again at COP28 in Dubai as delegates focused on the gap in climate finance. The UAE pledged $270 billion in green finance by 2030, while Saudi Arabia did not attend the summit.
Source: globeandmail - 🏆 5. / 92 Read more »