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3 Oil Majors That Bet Big On Renewables

Green Car Congress

Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com. 2 Total SA.

Oil 418
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EIA: US energy-related CO2 fell by 2.8% in 2019, slightly below 2017 levels

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in 2018, the only annual increase in the past five years. The changes in US energy-related CO 2 emissions in 2019 offset the increase in 2018. Nearly all of the change in CO 2 emissions in 2019 arose in the electric power sector. In 2019, the transportation sector’s energy-related CO2 emissions declined by 0.7%

2019 273
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Viridos executes agreement with ExxonMobil to help scale algae biofuels toward commercial levels

Green Car Congress

The recent productivity advances in Viridos’ technology are an opportunity to turn CO2 into renewable diesel and sustainable aviation fuels, providing an essential component for the decarbonization of the heavy-duty transportation industry. —Vijay Swarup, vice president of Research and Development at ExxonMobil.

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IIASA: removing fossil fuel subsidies will not reduce CO2 emissions as much as hoped

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Fossil fuel subsidies amount to hundreds of billions of dollars worldwide, and removing them has been held up as a key answer to climate change mitigation. However, the study found that the growth of CO 2 emissions by 2030 would only be 1-5% lower than if subsidies had been maintained, regardless of whether oil prices are low or high.

Emissions 186
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Researchers measure actual CO2 emissions from fossil fuel use and compare to reported levels

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However, because gas, coal and oil are millions of years old, their carbon has a key difference compared to the carbon cycling through plants. While there are many instruments that can measure CO 2 concentration in the atmosphere, the difficulty is in separating natural CO 2 from plant life from manmade CO 2 emitted by fossil fuel burning.

Emissions 199
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ITF: measures to decrease road freight CO2 emissions

Green Car Congress

Trucks represent the fastest growing source of global oil demand. They account for 40% of the expected increase in oil demand to 2050 and 15% of the increase in global CO 2 emissions. Trucks will even surpass passenger cars as the major oil consumers.

Emissions 255
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Naysayer Alert – the hydrogen red herring

My Electric Car

In addition, it is subject to similar refining, storage and distribution costs currently associated with petrol and diesel, including upstream CO2 emissions where the electricity required is usually generated from fossil fuels. In essence this mandates a complete billion dollar replication of the oil industry’s distribution network.