New York State, which has the third-largest pension fund in the U.S. with an estimated valuation of about $248 billion, will continue to invest in oil sands producer Suncor Energy.
TC Energy said April 12 it had issued a request for information seeking to identify wind energy investment opportunities that would generate 620 megawatt of “zero-carbon” electricity for its U.S. pipeline business.
‘There’s lot of room to be more ambitious,’ Regan says ahead of the administration’s release of its 2030 emission reduction targets.
The new Trafigura carbon trading team, to be headed by Hannah Hauman, will be based in Geneva, Houston and Singapore.
The draft document shows utilization of associated petroleum gas, a byproduct of crude extraction, rose to 82.6% in 2020 from 81.5% in the previous year.
Instead of a carbon tax, Vicki Hollub, CEO of U.S. shale producer Occidental Petroleum, says she prefers the use of tax credits incentivizing the development of carbon capture projects.
Chevron has set emissions targets for this decade and laid out plans to keep project spending low but increase oil and gas output.
While a carbon tax may drive certain desired behaviors during the energy transition, there is no one solution to the world’s emissions woes, oil industry executives say.
Canadian Natural Resources and Cenovus Energy, two of Canada’s biggest oil producers, plan to set new goals to reduce greenhouse gas emissions but will not pivot entirely away from their core businesses.
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” says Occidental Petroleum CEO Vicki Hollub.