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Canadian Big Oil Promotes Carbon Policy
That headline is not click-bait, nor is it wishful thinking. In late May, Steve Williams, CEO of Suncor penned an editorial for the Calgary Herald (along with Justin Smith of the Calgary Chamber and Chris Ragan, an Economics professor at McGill University). In this editorial, Williams highlighted the importance of having the right climate policy, especially with the upcoming expiration of the Specified Gas Emitters Regulation (SGER), the internaitonal climate negotiations in Paris later this fall and public opinion in light of the new (left-wing) majority government in Alberta, Canada’s oil bastion.
Solar’s Potential Eclipse of Oil Makes Sense
According to Royal Dutch Shell, solar could overtake oil as the world’s dominant energy source within the next 50 years. While analysts have long debated how much and how quickly solar could displace oil, this is probably the first time that a supermajor oil company has – through its own analysis – come up with quantifiable numbers. Chevron and Exxon-Mobil, two other supermajors who are increasing their renewable portfolios at exponential rates, also foresee a similar picture, although not quite as quickly.
Big Oil as Financiers of Clean Tech Ventures
In the middle of December, Royal Dutch Shell became only the latest oil ‘supermajor’ to invest in a renewable/sustainable energy startup. Their $26m investment in GlassPoint Solar Inc., a company whose technology Shell intends to use to improve wellpad heating efficiencies, follows in the footsteps of Chevron who are in a similar partnership with BrightSource Energy, another startup. Combined with the efforts of practically all oil/gas majors/supermajors (Exxon-Mobil, Statoil, Suncor, etc) to create their own clean energy portfolios – particularly wind and ethanol – Big Oil is increasingly showing up as a potential savior of the renewable technology industry.
It’s important to note this growing influence because at present, the renewable industry is at a crossroads vis-a-vis investment. Currently, the largest investors in this industry are governments – directly or through subsidies – but the global economic slowdown has affected this funding source. Bank loans, another major area (although whether this qualifies as an investment is questionable), have also seen sharp declines in North America or Europe. Big Oil, therefore, with its robust profit margins and opportunity for improvement (both from the public perception and economic efficiency standpoints) is in prime position to become the flag-bearers of renewable/clean technology.
Clean Efficiency is of the viewpoint that this is as it should be. For renewable companies to demonstrate viability to potential investors, they have to be tried and tested on large scale. This will also help drive down costs and make them more competitive with conventional technologies. Having the oil companies, their direct competitors, finance this growth is nothing short of a masterstroke and provides a win-win for both sides.
Energy Efficiency: The Key to Stalling Adverse Climate Change
A recent study commissioned by 20 governments through the Climate Vulnerable Forum has identified climate change as one of the major causes of death for the foreseeable future. According to the report, by 2030 more than 100 million people will die and global economic growth will be cut by 3.2% if the world fails to tackle climate change due to greenhouse gases caused by the burning of fossil fuels. Usually with reports like this, the accusing eyes of the world turn to the oil industry and in particular the Oilsands, but this is hardly drilling deep – pardon the pun – to the heart of the real issue.
Are Renewables & Conventional Oil more ethical than Oilsands?
This is a piece that I posted to my personal blog over eighteen months ago. My perspective here was to promote discussion (and there was a heated twitter debate between myself and two friends) and ultimately make people think about the impact of their personal choices first and foremost. This debate/discussion is still relevant.
Culled from www.blackpolitico.blogspot.ca
While we wait for the hydrogen-powered cars of the future, does no one think of the socio-political issues around drilling in the Middle East? Sure, you can suck up oil from the ground using a straw in those places, but at what cost to the people there? At what cost to generation X of the United States and its allies, who aren’t fighting a war for world peace or to bring down a tyrant – as was the case in the first two world wars, respectively – but who are fighting instead so that the West can have oil at $70 per barrel?