“Let’s remember what the industry could and should be doing with those trillions of dollars: stepping away from any new oil and gas exploration, investing heavily into renewable energies and accelerating carbon capture and storage technologies to clean up existing fossil fuel use. Also, cutting methane emissions from the entire production line, abating emissions along their value chain and facilitating access to renewable energy for those still without electricity who number in their millions.
Instead, what we see is international oil companies cutting back, slowing down or, at best, painfully maintaining their decarbonisation commitments, paying higher dividends to shareholders, buying back more shares and – in some countries – lobbying governments to reverse clean energy policies while paying lip service to change.”
I thought fossil fuel firms could change. I was wrong
https://www.aljazeera.com/opinions/2023/7/6/i-thought-fossil-fuel-firms-could-change-i-was-wrong
via Instapaper
Instead, what we see is international oil companies cutting back, slowing down or, at best, painfully maintaining their decarbonisation commitments, paying higher dividends to shareholders, buying back more shares and – in some countries – lobbying governments to reverse clean energy policies while paying lip service to change.”
I thought fossil fuel firms could change. I was wrong
https://www.aljazeera.com/opinions/2023/7/6/i-thought-fossil-fuel-firms-could-change-i-was-wrong
via Instapaper