3 lessons here:
1/ fossil asset owners will keep these assets as long as gov'ts will let them.
2/ oil and gas net zero pledges are an elaborate distraction -- both for ESG optimists and consumers
3/ liberals take note: the market won't supply decarbonization.
https://www.theguardian.com/business/2025/feb/24/bp-expected-to-scrap-renewables-target-in-shift-back-to-fossil-fuels
1/ fossil asset owners will keep these assets as long as gov'ts will let them.
2/ oil and gas net zero pledges are an elaborate distraction -- both for ESG optimists and consumers
3/ liberals take note: the market won't supply decarbonization.
https://www.theguardian.com/business/2025/feb/24/bp-expected-to-scrap-renewables-target-in-shift-back-to-fossil-fuels
Comments
I am so old that I remember "beyond petroleum" rebrand two decades ago.
So instead they pretend we have lots of time for a market-led energy transition.
RFNBO obligations in EU states should be implemented in full, to enable #hydrogen to replace diesel
Batteries won't replace fossil fuels!
"Beyond Petroleum"?
Them were the days.
I remember oil companies trying to get into renewables
in the 1970s.
That didn't last long either.
In fact, they may have got into renewables
to stop them.
We pay the highest energy prices because we pay the incremental cost of the highest part (gas in this case) as the base rate for all energy.
The impetus is on keeping the most expensive (gas) standard
https://www.tandfonline.com/doi/full/10.1080/13563467.2021.1926957