clean energy

Oil Firms Want a More Gradual Shift to Clean Energy

The world’s major oil and gas firms know that the energy industry must evolve to avoid catastrophic climate change, but they insist on a transformation that ensures future profits, which would surely overheat the globe, according to Houston Chronicle.

Oil and gas enthusiasts believe that burning hydrocarbons does not cause climate change, but that releasing carbon dioxide and methane into the atmosphere does. According to speakers at CERAWeek by S&P Global, the annual oil and gas summit in Houston, the globe should focus on emissions rather than cutting fossil fuel usage.

If the public accepts the industry’s too simplified and deceptive marketing narrative, the environment will continue to heat up, natural catastrophes will intensify, and living standards will deteriorate.

President Joe Biden’s special envoy for climate change, John Kerry, launched CERAWeek by pledging a “all of the above” plan to decrease emissions provided industry cooperates in lowering global warming to 1.5 degrees Celsius over pre-industrial levels.

According to the International Energy Agency, we will need 46 new technologies to achieve net-zero emissions by 2050, yet 44 of them are not commercially available. Kerry challenged the engineers and scientists in the group to commercialize them.

The fossil fuel industry, which caused climate change and denied its existence for decades, has failed us. They debate whether to continue generating hydrocarbon molecules for burning or to sell electrons generated by clean technologies like wind, solar, and storage.

Exxon Mobil CEO Darren Woods stated that his corporation will increase fossil fuel output while focusing on pollution capture. He highlights the company’s investment in plant-based fuels and hydrogen created from natural gas.

TotalEnergies CEO Patrick Pouyanné opted to diversify his firm by creating electrons. The new business strategy shifts away from oil and toward natural gas, wind, solar, and battery storage.