fossil fuels – Page 2 – Oil & Gas 360

Column: Energy should not be controversial; how did this happen? A look into the machine

February 7, 2023

BOE Report Are you familiar with Sam Bankman-Fried, the crypto-whiz kid that started crypto-exchange FTX, the 30-year-old worth $30 billion, some were hailing as the new Warren Buffett? His empire is now a pile of rubble, and against all legal advice he’s been delightfully verbose about the epic failure. Here’s a text exchange with a reporter, grammar verbatim: Q: you were really

Banks haven’t lost their appetite for fossil fuels just yet

January 25, 2023

Oil Price Following the signing of the Paris Agreement by 193 states and the EU and after the COP27 climate summit in 2021, several major financial institutions came under fire for their continued support of fossil fuel companies. As governments worldwide introduce new climate policies and put pressure on oil and gas firms to improve operations and curb their carbon

Canada’s energy jobs transition bill sparks discord in oil heartland

January 23, 2023

BOE Report In Canada’s oil patch, controversy is raging over federal government legislation intended to help the fossil fuel labour force transition to a greener economy, but union and community leaders are warning politicization of the Just Transition bill obscures the needs of workers. Justin Trudeau’s government is expected to table its long-awaited workforce transition bill this spring, ahead of

Energy CEOs hit mute button on ESG, hinting at fading interest

November 30, 2022

World Oil (Bloomberg) — The top bosses of US oil and gas companies are speaking less and less about climate and carbon emissions, a signal that the industry’s public focus on ESG over the past couple of years may be fading. That, at least, is according to a Bloomberg analysis of quarterly conference calls held by 172 American oil and gas companies. The

Support for fossil fuels almost doubled in 2021, analysis from OECD and IEA shows

August 29, 2022

World Oil Major economies sharply increased support for the production and consumption of coal, oil and natural gas, with many countries struggling to balance longstanding pledges to phase out inefficient fossil fuel subsidies with efforts to protect households from surging energy prices, according to analysis released today by the Organisation for Economic Co-operation and Development and the International Energy Agency.

Supreme Court restricts EPA’s authority to shift away from fossil fuels

June 30, 2022

World Oil (Bloomberg) — The U.S. Supreme Court restricted the Environmental Protection Agency’s authority to curb greenhouse gases from power plants, siding with coal-mining companies and Republican-led states in a blow to President Joe Biden’s climate-change agenda. The 6-3 ruling interpreting the U.S. Clean Air Act is likely to keep the administration from imposing the type of wide-ranging emissions-cutting plan the EPA

Energy transition still means billions in fossil-fuel investment

April 21, 2022

World Oil (Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that will be in service for decades.

Texas asks 19 finance firms for details on fossil-fuel stances

March 17, 2022

World Oil (Bloomberg) — Texas is seeking information from more than a dozen major finance firms on whether their operations discriminate against the fossil-fuel industry. The state’s comptroller wrote to 19 businesses seeking clarification of their fossil-fuel investment policies and procedures. Any company that fails to respond within 60 days “will be presumed to be boycotting energy companies,” according to

Saudi Aramco CEO warns of social unrest if new investment in fossil fuels ends too quickly

December 7, 2021

CNBC Amin Nasser, the chief executive of Saudi Aramco, the world’s biggest oil producer, urged global leaders on Monday to continue investing in planet-warming fossil fuels in the years ahead, arguing that the assumption the world could transition to clean energy “overnight” was “deeply flawed.” Nasser, during remarks at the World Petroleum Congress in Houston, Texas, claimed that transitioning to cleaner

Global oil CEOs stress need for fossil fuels despite push for cleaner energy

December 6, 2021

Reuters HOUSTON -A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come. The World Petroleum Conference’s four days of discussion started with chief executives from Exxon Mobil Corp, Chevron Corp and Halliburton Co, three of the largest

Don’t ditch traditional energy stocks for solar just yet, two traders say

October 28, 2021

CNBC It’s worth hanging onto traditional energy stocks despite the recent resurgence in solar names, two traders say. The popular Invesco Solar ETF (TAN) is up nearly 10% this week, helped in part by Enphase Energy’s surge after reporting record revenue for its third quarter. TAN is beating the Energy Select Sector SPDR Fund (XLE) in the past month, up almost 22% versus the XLE’s 8.5% gain,

Shell says break-up of group would not work in real life

October 28, 2021

Reuters LONDON (Reuters) – Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said on Thursday. Activist hedge fund Third Point, which has built a large stake in Shell, on Wednesday called for the oil major to split into multiple

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