The literature contains several sources that present a description of the energy sources that are available or are expected to be available during the 21st century. Today's energy options include fossil fuels, nuclear energy, solar energy, renewable fuels, and alternative sources. Fossil fuels are the dominant energy source in the modern global economy, but environmental concerns are prompting changes to an energy supply that is clean. Natural gas is a source of relatively clean energy. Oil and gas fields are considered conventional sources of natural gas.
It’s no secret that oil majors are among the biggest corporate emitters of pollution. What may be surprising is that they’re reducing their greenhouse-gas footprints every year, actively participating in a trend that’s swept up most corporate behemoths. The Canadian and Alberta governments and three energy companies said on 11 May that they will spend CAD 70 million (USD 51.14 million) to develop three new clean technology projects, aimed at cutting costs and carbon emissions in the country’s oil sands.
Royal Dutch Shell outlined a scenario in which, by 2070, we would be using far less of the company’s own product—oil—as cars become electric, a massive carbon storage industry develops, and transportation begins a shift toward a reliance on hydrogen as an energy carrier. The chair of SPE’s Climate-Change Task Force provides an overview of the process by which it developed the society’s strategy to address the emission goals of the Paris Agreement on Climate Change.
The industry needs to take a proactive and solution-centric position with respect to the Paris Agreement and join the battle for the clean and affordable kilowatts of energy the markets will increasingly favor. The Oil and Gas Climate Initiative (OGCI) announced on 27 October its first three investments, moving forward the organization’s commitments into concrete action to spur the growth of promising low-carbon technologies.
Royal Dutch Shell is changing its tune on carbon, saying it will tie executive pay to shorter-term reductions in emissions. A dire government report on the far-reaching impact of climate change could increase pressure on the energy industry to curb greenhouse gas emissions and political leaders to act more decisively to reduce the use of fossil fuels, analysts said. Climate change involves a combination of factors that make it hard for people to get motivated. The city of Baltimore filed a lawsuit on 20 July against 26 oil and gas companies and entities, including BP, Chevron, and ExxonMobil, for knowingly contributing to what the city called the catastrophic consequences of climate change. A California federal court dismissed climate change lawsuits against five oil companies by the cities of San Francisco and Oakland, saying the complaints required foreign and domestic policy decisions that were outside the purview of courts, Chevron said on 25 June.
OSHA still has a lot of items on its regulatory agenda for 2017-2018, despite President Trump's plans to shrink the agency. The government of Canada has released its proposal for the first federal regulations on greenhouse gas emissions applicable specifically to the upstream oil and gas sector. Canadian regulators are formally proposing rules to reduce methane pollution from the oil and natural gas sector.
Although the Environmental Defense Fund and ExxonMobil are not always aligned on certain important issues, the organizations are working together to understand and reduce methane emissions. Exxon Mobil sent a letter to the US Environmental Protection Agency in support of methane gas emission rules put in place under the Obama administration, according to a copy of the letter seen by Reuters. ExxonMobil announced greenhouse gas reduction measures that are expected to lead to significant improvements in emissions performance by 2020, including a 15% decrease in methane emissions and a 25% reduction in flaring. In November, ExxonMobil signed a commitment with several companies aimed at reducing methane emissions. That agreement built off earlier efforts the company had announced to enhance voluntary methane reduction.
Royal Dutch Shell said on 14 March that it planned to reduce carbon emissions from its oil and gas operations and product sales by 2–3% during the 2016–2021 period, the first time the company has issued carbon footprint targets. Royal Dutch Shell is changing its tune on carbon, saying it will tie executive pay to shorter-term reductions in emissions. Chief Executive Officer Ben van Beurden has the same message for activists seeking to bind Royal Dutch Shell to deep emissions cuts and investors concerned about the merits of shifting away from oil and gas: Trust me. Royal Dutch Shell outlined a scenario in which, by 2070, we would be using far less of the company’s own product—oil—as cars become electric, a massive carbon storage industry develops, and transportation begins a shift toward a reliance on hydrogen as an energy carrier. A carbon capture and storage (CCS) white knight has appeared on the horizon, and it is potentially a game changer.
The oil and gas major has set aside $100 million to fund projects that will deliver new greenhouse gas emissions reductions in its upstream oil and gas operations. Chevron plans to set greenhouse gas emissions targets and tie executive compensation and rank-and-file bonuses to the reductions, the oil major said in its latest climate report.