For years, groups such as the Heartland Institute, CFACT, and other climate and energy realists have been accused of receiving substantial funds from Big Oil to promote traditional energy. [emphasis, links added]
Of course not, but you know who have Have you made a lot of money from Big Oil? So-called renewable energy companies and debris climate crisis organizations.
In fact, about $1 billion per year flows from oil and gas companies to green groups through the Oil and Gas Climate Initiative (OGCI), which includes members such as BP, Chevron, Chevron, Equinor, Exxon Mobil, Occidental, Occidental, and others.
It has been annoying to see Big Green’s footsteps at these companies, a multi-trillion dollar industry itself that has cost the rest of us rather than helping.
Furthermore, the entire renewable energy industry is built on falsehood and alerts so that we don’t forget – a ton of taxpayer dollars.
Recent news is that BP and other multinational energy companies are cooling their feelings for renewable energy, while green investment is causing the usual climate scam.
Hopefully this marks a permanent transition from our largest energy producers to sound science and climate realism. However, only time can tell.
These cuts are huge, according to the BMI report sent to Rigzone by Fitch Group.
BP “abandoned” their waste oil targets and is divesting its onshore wind business.” Similarly, Shell is considering new oilfield projects while weakening its target of reducing carbon dioxide emissions.
In other news, Equinor cuts its decarbonization investment in half, from $10 to $5 billion. Even though that's still $5 billion, I'd say it's at least a decent start.
BP's comments are the most interesting. this telegraph Impressed by this Pressure from hedge fund Elliott Management convinced BP to give up its net zero focus as the company “wasted too much renewable energy fund” causing the company to decline in value.
With President Donald Trump returning to the White House, subsidies for wind and solar will soon dry up, and big oil companies know they won't provide protection for green projects. Trump has stopped offshore wind rental sales and suspended approval of onshore winds.
EPA Administrator Lee Zeldin Billions Dollars in various questionable green projects.
Oil companies undoubtedly receive funding from these subsidies and funds for green energy projects and commitments. If the cash flow ends, they will have a hard time maintaining the junk.
Now, another key phrase in many reports is “energy security”, and it’s time.
Premature closure of coal, nuclear and gas plants (e.g., grid operators of the Federal Commission, or even individuals), such as coal, nuclear power plants and gas plants. Wind and solar energy cannot fill the gap left. They are too unreliable.
Of course, BP and others are still talking about the so-called energy transition on their website. However, it is hard to believe that they do not know there is no energy transition globally.
Electric power production data show that although wind and solar energy are added to the overall mixture, traditional energy is still growing with general consumption of consumption.
Whether this shift represents a serious change from major oil companies or simply recognize that the Trump administration is unlikely to subsidize their access to renewable energy.
It is obvious that the positive embrace of oil and gas will be a very welcome change.
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