On The Money: ESG E&P Objectives And Ironies

As environmental, social and governance (ESG) issues have become such a widely discussed topic, it’s hardly surprising that instances of irony arise as various sweeping proposals come under scrutiny.

Environmental activists are critical of the energy sector even though the industry is likely best suited to develop some of the large-scale solutions they say are urgently needed in the renewable field. Energy producers are scolded for extracting and refining crude oil, but, by one estimate, these activities make up 20% to 30% of CO₂ emissions versus some 70% to 80% emitted by energy consumers.

Yes, it is energy consumers—those who like their homes heated, their tanks topped up and their flights viable for vacations and work—that the energy industry is serving.