You might think that would be bad for clean energy. But contrary to expectations, energy executives say that it's actually good news for clean-energy investments.new targets to reduce the 'intensity' of emissionsOther corporations like Facebook are joining in by buying huge amounts of solar and wind power. Smaller startups have in the meantime made progress on breakthrough technologies like batteries that last for days — a key component to transitioning to cleaner energy.
Panelists also discussed how rising oil prices may actually benefit investments into clean energy, as contrary as that may sound. West Texas Intermediate crude trades for about $61 a barrel, around pre-pandemic levels. Crude tumbled last year as COVID-19 put a stop to travel and manufacturing, driving down demand for oil.
Brinton told Jones that Shell — known for being a major oil and gas company — is investing in energy storage well as many other cleaner technologies. Shell is"technology agnostic," according to Brinton, who added that the company is really focused on use cases and how it can help various sectors reduce their carbon footprints.
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