This month BP, one of the world’s largest oil and gas firms, announced its ambition to be a net zero emissions company by 2050. The promise extends to cutting the emissions of its customers too; after all, they’re the ones who are actually burning the fuel, not BP. So it aims to reduce the carbon intensity of its products by 50% by 2050 or sooner. Jules Kortenhorst, Tyeler Matsuo and Raghav Muralidharan at Rocky Mountain Institute take a look at … [Read more...]
Fossil fuel politics is changing: Big Oil, automakers split on Trump lowering standards
Cara Daggett at Virginia Tech has noticed a positive change in corporate support for the Transition. In the past, Big Oil and automakers would have opposed any limits to business-as-usual. But today, major oil companies, including BP and Royal Dutch Shell, are opposing U.S. President Trump’s intention to further deregulate methane emissions. That’s because they’ve invested heavily in natural gas as a bridge fuel for a clean future, which would … [Read more...]
Analysis: BP’s outlook for fossil fuels could be undermined by slowing energy demand
BP’s latest projections, released last week, once again concede that their previous reports have been overestimating fossil fuel consumption and underestimating renewables. Yet BP still predicts total energy demand will grow indefinitely thanks to overall global growth, and fossil fuels will always be needed. But Simon Evans at Carbon Brief shows how these projections contrast starkly with McKinsey’s, who find that the efficiency of renewables … [Read more...]
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