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<p><font size="+2" face="Calibri"><i><b>November </b></i></font><font
size="+2" face="Calibri"><i><b>28, 2023</b></i></font></p>
<font face="Calibri"><i>[ Thoughtful, wise, informative - video 15
min - schooling refiners ]</i><br>
</font> <font face="Calibri"><b>How can we stop burning fossil
fuels if we still need everything else they make?</b><br>
Just Have a Think<br>
Nov 26, 2023<br>
Petroleum-based products like pharmaceuticals, electronics,
fertilizers, plastics and a host of other crucial modern world
commodities are all impossible to make without first producing
hundreds of millions of tonnes of gasoline, kerosene, and diesel.
It's just the way the process works. At least that's what the
fossil fuel industry would like you to believe. Except, that is
NOT TRUE. An independent petroleum industry consultant explains
how it REALLY works.<br>
<a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=BYWLpdGgJe4">https://www.youtube.com/watch?v=BYWLpdGgJe4</a><br>
</font>
<p><font face="Calibri">- -<br>
</font></p>
<font face="Calibri">[ Get technical info ]<br>
<b>Spitfire Research Inc.</b><br>
Process development consulting for a decarbonized future<br>
30 yrs experience helping people take chemical process ideas from
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If you’re a technology developer with an exciting new process
working in the lab, an investor wondering whether a start-up’s
claims are valid, or a business leader trying to navigate toward a
decarbonized future, Spitfire Research can help.<br>
<a class="moz-txt-link-freetext"
href="https://spitfireresearch.com/">https://spitfireresearch.com/</a></font>
<p><font face="Calibri">- -</font></p>
<br>
<font face="Calibri"><i>[ IEA Reports The Oil and Gas Industry in
Net Zero Transitions ]</i><br>
</font><font face="Calibri"><b>Oil and gas industry faces moment of
truth – and opportunity to adapt – as clean energy transitions
advance</b><br>
</font><br>
<font face="Calibri">Producers must choose between contributing to a
deepening climate crisis or becoming part of the solution by
embracing the shift to clean energy, IEA special report says<br>
</font><br>
<font face="Calibri">Oil and gas producers face pivotal choices
about their role in the global energy system amid a worsening
climate crisis fuelled in large part by their core products,
according to a major new special report from the IEA that shows
how the industry can take a more responsible approach and
contribute positively to the new energy economy.<br>
<br>
The Oil and Gas Industry in Net Zero Transitions analyses the
implications and opportunities for the industry that would arise
from stronger international efforts to reach energy and climate
targets. Released ahead of the COP28 climate summit in Dubai, the
special report sets out what the global oil and gas sector would
need to do to align its operations with the goals of the Paris
Agreement.<br>
<br>
Even under today’s policy settings, global demand for both oil and
gas is set to peak by 2030, according to the latest IEA
projections. Stronger action to tackle climate change would mean
clear declines in demand for both fuels. If governments deliver in
full on their national energy and climate pledges, demand would
fall 45% below today's level by 2050. In a pathway to reaching net
zero emissions by mid-century, which is necessary to keep the goal
of limiting global warming to 1.5 °C within reach, oil and gas use
would decline by more than 75% by 2050.<br>
<br>
Yet the oil and gas sector – which provides more than half of
global energy supply and employs nearly 12 million workers
worldwide – has been a marginal force at best in transitioning to
a clean energy system, according to the report. Oil and gas
companies currently account for just 1% of clean energy investment
globally – and 60% of that comes from just four companies.<br>
<br>
“The oil and gas industry is facing a moment of truth at COP28 in
Dubai. With the world suffering the impacts of a worsening climate
crisis, continuing with business as usual is neither socially nor
environmentally responsible,” said IEA Executive Director Fatih
Birol. “Oil and gas producers around the world need to make
profound decisions about their future place in the global energy
sector. The industry needs to commit to genuinely helping the
world meet its energy needs and climate goals – which means
letting go of the illusion that implausibly large amounts of
carbon capture are the solution. This special report shows a fair
and feasible way forward in which oil and gas companies take a
real stake in the clean energy economy while helping the world
avoid the most severe impacts of climate change.”<br>
<br>
The global oil and gas industry encompasses a large and diverse
range of players – from small, specialised operators to huge
national oil companies. Attention often focuses on the role of the
private sector majors, but they own less than 13% of global oil
and gas production and reserves.<br>
<br>
Every company’s transition strategy can and should include a plan
to reduce emissions from its own operations, according to the
report. The production, transport and processing of oil and gas
results in nearly 15% of global energy-related greenhouse
emissions – equal to all energy-related greenhouse gas emissions
from the United States. As things stand, companies with targets to
reduce their own emissions account for less than half of global
oil and gas output.<br>
<br>
To align with a 1.5 °C scenario, the industry’s own emissions need
to decline by 60% by 2030. The emissions intensity of oil and gas
producers with the highest emissions is currently five-to-ten
times above those with the lowest, showing the vast potential for
improvements. Furthermore, strategies to reduce emissions from
methane – which accounts for half of the total emissions from oil
and gas operations – are well-known and can typically be pursued
at low cost.<br>
<br>
While oil and gas production is vastly lower in transitions to net
zero emissions, it will not disappear – even in a 1.5 °C scenario.
Some investment in oil and gas supply is needed to ensure the
security of energy supply and provide fuel for sectors in which
emissions are harder to abate, according to the report. Yet not
every oil and gas company will be able to maintain output –
requiring consumers to send clear signals on their direction and
speed of travel so that producers can make informed decisions on
future spending.<br>
<br>
The USD 800 billion currently invested in the oil and gas sector
each year is double what is required in 2030 on a pathway that
limits warming to 1.5 °C. In that scenario, declines in demand are
sufficiently steep that no new long-lead-time conventional oil and
gas projects are needed. Some existing oil and gas production
would even need to be shut in.<br>
<br>
In transitions to net zero, oil and gas is set to become a less
profitable and riskier business over time. The report’s analysis
finds that the current valuation of private oil and gas companies
could fall by 25% from USD 6 trillion today if all national energy
and climate goals are reached, and by up to 60% if the world gets
on track to limit global warming to 1.5 °C.<br>
<br>
Opportunities lie ahead despite these challenges. The report finds
that the oil and gas sector is well placed to scale up some
crucial technologies for clean energy transitions. In fact, some
30% of the energy consumed in 2050 in a decarbonised energy system
comes from technologies that could benefit from the industry’s
skills and resources – including hydrogen, carbon capture,
offshore wind and liquid biofuels.<br>
<br>
However, this would require a step-change in how the sector
allocates its financial resources. The oil and gas industry
invested around USD 20 billion in clean energy in 2022, or roughly
2.5% of its total capital spending. The report finds that
producers looking to align with the aims of the Paris Agreement
would need to put 50% of their capital expenditures towards clean
energy projects by 2030, on top of the investment required to
reduce emissions from their own operations.<br>
<br>
The report also notes that carbon capture, currently the linchpin
of many firms’ transition strategies, cannot be used to maintain
the status quo. If oil and natural gas consumption were to evolve
as projected under today’s policy settings, limiting the
temperature rise to 1.5 °C would require an entirely inconceivable
32 billion tonnes of carbon captured for utilisation or storage by
2050, including 23 billion tonnes via direct air capture. The
amount of electricity needed to power these technologies would be
greater than the entire world’s electricity demand today.<br>
<br>
“The fossil fuel sector must make tough decisions now, and their
choices will have consequences for decades to come,” Dr Birol
said. “Clean energy progress will continue with or without oil and
gas producers. However, the journey to net zero emissions will be
more costly, and harder to navigate, if the sector is not on boar<br>
</font><br>
<font face="Calibri"><a class="moz-txt-link-freetext"
href="https://www.iea.org/news/oil-and-gas-industry-faces-moment-of-truth-and-opportunity-to-adapt-as-clean-energy-transitions-advance">https://www.iea.org/news/oil-and-gas-industry-faces-moment-of-truth-and-opportunity-to-adapt-as-clean-energy-transitions-advance</a></font><br>
<p><font face="Calibri"><br>
</font></p>
<font face="Calibri"><br>
</font><font face="Calibri"> <i>[The news archive - Petroleum
industry ]</i></font><br>
<font face="Calibri"> <font size="+2"><i><b>November 28, 2014 </b></i></font>
</font><br>
<font face="Calibri"> </font> <font face="Calibri">November 28,
2014:<br>
• In the New York Times, Paul Krugman observes:<br>
</font>
<blockquote><font face="Calibri">"Of course, polluters will defend
their right to pollute, but why can they count on Republican
support? When and why did the Republican Party become the party
of pollution?</font><br>
<br>
<font face="Calibri">"For it wasn’t always thus. The Clean Air Act
of 1970, the legal basis for the Obama administration’s
environmental actions, passed the Senate on a bipartisan vote of
73 to 0, and was signed into law by Richard Nixon. (I’ve heard
veterans of the E.P.A. describe the Nixon years as a golden
age.) A major amendment of the law, which among other things
made possible the cap-and-trade system that limits acid rain,
was signed in 1990 by former President George H.W. Bush.</font><br>
<br>
<font face="Calibri">"But that was then. Today’s Republican Party
is putting a conspiracy theorist who views climate science as a
'gigantic hoax' in charge of the Senate’s environment committee.
And this isn’t an isolated case. Pollution has become a deeply
divisive partisan issue.</font><br>
<br>
<font face="Calibri">"And the reason pollution has become partisan
is that Republicans have moved right. A generation ago, it turns
out, environment wasn’t a partisan issue: according to Pew
Research, in 1992 an overwhelming majority in both parties
favored stricter laws and regulation. Since then, Democratic
views haven’t changed, but Republican support for environmental
protection has collapsed.</font><br>
<br>
<font face="Calibri">"So what explains this anti-environmental
shift?</font><br>
<br>
<font face="Calibri">"You might be tempted simply to blame money
in politics, and there’s no question that gushers of cash from
polluters fuel the anti-environmental movement at all levels.
But this doesn’t explain why money from the most environmentally
damaging industries, which used to flow to both parties, now
goes overwhelmingly in one direction. Take, for example, coal
mining. In the early 1990s, according to the Center for
Responsive Politics, the industry favored Republicans by a
modest margin, giving around 40 percent of its money to
Democrats. Today that number is just 5 percent. Political
spending by the oil and gas industry has followed a similar
trajectory. Again, what changed?</font><br>
<br>
<font face="Calibri">"One answer could be ideology. Textbook
economics isn’t anti-environment; it says that pollution should
be limited, albeit in market-friendly ways when possible. But
the modern conservative movement insists that government is
always the problem, never the solution, which creates the will
to believe that environmental problems are fake and
environmental policy will tank the economy.</font><br>
<br>
<font face="Calibri">"My guess, however, is that ideology is only
part of the story — or, more accurately, it’s a symptom of the
underlying cause of the divide: rising inequality."</font><br>
</blockquote>
<font face="Calibri"><a class="moz-txt-link-freetext"
href="http://www.nytimes.com/2014/11/28/opinion/paul-krugman-pollution-and-politics.html?ref=opinion&_r=0">http://www.nytimes.com/2014/11/28/opinion/paul-krugman-pollution-and-politics.html?ref=opinion&_r=0</a><br>
</font> <br>
<p><font face="Calibri"><br>
</font> </p>
<p><font face="Calibri"> <br>
</font> <font face="Calibri"><br>
=== Other climate news sources
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</font> <font face="Calibri"><a class="moz-txt-link-freetext"
href="https://insideclimatenews.org/">https://insideclimatenews.org/</a><br>
--------------------------------------- <br>
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