What If Both Sides Of The ESG Debate Are Right About US Majors’ Oil And Gas Investments, But For The Wrong Reasons?
- Date: 20-Jan-2023
- Source: Forbes
- Sector:Oil & Gas
- Country:Saudi Arabia
What If Both Sides Of The ESG Debate Are Right About US Majors’ Oil And Gas Investments, But For The Wrong Reasons?
Share to Linkedin My hypothesis is that US majors underinvest both in renewables and in oil and gas needed to get us through the energy transition. Perhaps, the right question, addressed to both the anti and pro ESG wings, should be: how to get more investment in both oil and gas (if needed) and in renewables, which is clearly needed? Now that the House of Representatives had turned over to the Republicans, the rhetoric around claims of "woke" capitalism have grown louder. One of the major beefs of the anti-ESG wing of the Republican party is that ESG is responsible for the cut in US investment in oil and gas production. At the same time, the International Energy Agency (IEA), by no means a liberal mouthpiece, calculated that "in 2020, clean energy investments by the oil and gas industry accounted for only around 1% of total capital expenditure." That proportion was expected to go up to around 4% in 2021. These claims, when juxtaposed, lead me to a hypothesis that has not garnered much attention thus far: US majors potentially underinvest both in oil and gas production and on renewables. I believe that the anti-ESG wing is partially correct in
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A full GigaByte of EPA discloures are aggregated in today's data-file, breaking down upstream CO2 intensity, methane leakage and flaring intensity of the US oil and gas industry. An ESG treasure trove. 20% improvements since 2018. But still a vast skew... https://thundersaidenergy.com/downloads/us-co2-and-methane-intensity-by-basin/
Me and @wmarkmeyer deep dived the @Deloitte Oil & Gas M&A report. Did you know that 70% of acquisitions improved the ESG metrics of the acquirer? 80% of deals were gas weighted? Watch us https://youtu.be/jJmaZbDSviI or listen https://podcasts.apple.com/us/podcast/chuck-yates-needs-a-job/id1536448009?i=1000604245208
We are proud to be recognized by @barronsonline for our #ESG efforts ranging from workplace diversity to greenhouse gas emissions. Learn more about how we are leaving the world better than we found it: https://bit.ly/3YOJhRJ
#LifeAtWaters
ESG considerations are influencing corporate strategy and M&A decisions, with 70% of activity involving higher #ESG ratings. Discover the impact of ESG on the O&G industry. #oilandgas #Deloitte4Energy https://deloi.tt/3SyTjF9
Avient was again recognized as one of Barron’s 100 Most Sustainable Companies this year, ranked at #37. The 1,000 largest US public companies are scored on 230 ESG metrics like workplace diversity, greenhouse gas emissions and advancing a circular economy. https://bit.ly/42aWzuA
I’m excited to share that @MDLZ has been named one of Barron’s 100 Most Sustainable Companies. 1,000 of the largest US public companies are scored on 230 ESG metrics on topics ranging from workplace diversity to greenhouse gas emissions. #TeamMDLZ https://bit.ly/3Fjhnqb
I’m excited to share that @MDLZ has been named one of Barron’s 100 Most Sustainable Companies. 1,000 of the largest US public companies are scored on 230 ESG metrics on topics ranging from workplace diversity to greenhouse gas emissions. #TeamMDLZ https://bit.ly/3T8l8V7
The O&G industry is evolving, with strategic #M&A driven by energy security, operational excellence, the energy transition, partnerships, and ESG considerations. Learn more in the latest Deloitte report. #OilAndGas #EnergyTransition #ESG #Deloitte4Energy https://deloi.tt/3FfnkUZ
Because of ESG, banks won't loan to poor African nations to build coal/natural gas power plants.
So Africans can extract coal and gas there but they have to sell it to us. They can't use it themselves.
It is green colonialism. This is where systemic racism actually exists.
A coal-state US Senator suggests one reason for ESG pushback: protecting fossil fuel firms.
“ESG means you can’t invest in things like oil, gas, coal, American energy.” -- Wyoming Senator John Barrasso
In liberal magazine @newrepublic https://newrepublic.com/article/171032/fossil-fuel-executives-really-think-esg
. #SVB collapse? On a Friday? Quelle surprise!
Don’t worry, their #ESG and Operational Greenhouse Gas Emissions are/were all in line with their corporate philosophy of transparency and accountability https://www.svb.com/about-us/living-our-values/esg-reporting
with the recent collapse in natty gas anyone know electricity producers in the US that run natty gas facilities? it seems most of them are integrated and all jumped on the ESG bandwagon for tax credits $D 🥲
Excited to share that @MDLZ has been named one of Barron’s 100 Most Sustainable Companies. 1,000 of the largest US public companies are scored on 230 ESG metrics on topics ranging from workplace diversity to greenhouse gas emissions. #TeamMDLZ https://bit.ly/3ZSzZVI
In Qld, we have NO legal right to say NO to coal seam gas coming on or under our farms, and yet global warming enhancing #CSG is going to wreck our future #ESG credentials & remove us from certain export markets or face tariffs.
Legalised #Injustice
@QldGov
@GasFieldsCommQ
Meeting corporate ESG credentials could be a ticket to play for farmers in the future. But what actually is ESG?? https://www.abc.net.au/news/rural/2023-03-10/esg-sustainability-guidelines-changing-farming/102051792
I’m excited to share that @MDLZ has been named one of Barron’s 100 Most Sustainable Companies. 1,000 of the largest US public companies are scored on 230 ESG metrics on topics ranging from workplace diversity to greenhouse gas emissions. #TeamMDLZ https://bit.ly/3Fb1rpD
The O&G industry is evolving, with strategic #M&A driven by energy security, operational excellence, the energy transition, partnerships, and ESG considerations. Learn more in the latest Deloitte report. #OilAndGas #EnergyTransition #ESG #Deloitte4Energy https://deloi.tt/3Zwou6L
Did you know Heath is the sole U.S. distributor of the SEMTECH® HI-FLOW 2? Utilize the Hi-Flow 2 as part of your GHG Emissions reduction program for accurate and direct quantification of leaks. For more info: https://heathus.com/products/hi-flow-2/
#methanereducation #ghg #natgas #esg #gas
Horrendous - #fossilfuels are a danger to our health, and our survival. We need to quit them now. #climate #esg #SDGs #airquality https://www.theguardian.com/environment/2023/mar/06/us-methane-gas-leak-fracking-jackson-township-pennsylvania
Vanguard's CEO acknowledged that their fiduciary duty is incompatible with aligning assets to the 2050 net-zero targets. Good, but... he should ALSO pull out from CERES (a US alliance decarbonizing electric power, oil/gas, food, etc.) and not support ESG shareholder resolutions.
Vanguard's CEO recently announced that his investment firm would be dropping its net-zero commitments. This represents great progress in the fight against ESG and the "woke” remake of financial services. https://conta.cc/3mgmnFg
⛽️ESG is seen as a threat to oil, gas and coal industries amid a nationwide push away from fossil fuels
🐘Who is against ESG? Think Elon Musk, Ron DeSantis
📣Biden to veto to keep ESG investing rule
https://www.cbc.ca/news/world/us-esg-controversy-biden-veto-plans-1.6765208
Oil prices are no longer driving O&G M&A. Discover the new factors influencing M&A decisions in the industry. #Deloitte4Energy #oilandgas #energytransition #ESG https://deloi.tt/3Z7YdeJ
Good morning.
1) US Senate votes to block ESG investment, Biden set to veto
2) US 2Y 4.87%-4.89% US 5Y 4.26%-4.28% US 10Y 4.01%-4.03%
3) WTI WCS up Nat Gas down
4) Gold Silver Copper down
5) BTC $22K-$24K Ethereum $1.5K-$1.7K
The O&G industry is evolving, with strategic #M&A driven by energy security, operational excellence, the energy transition, partnerships, and ESG considerations. Learn more in the latest Deloitte report. #OilAndGas #EnergyTransition #ESG #Deloitte4Energy https://deloi.tt/3y0UVxS
Climate risks are material financial risks!
We are disappointed that @bp_plc has decided to decrease its commitment to reduce its oil and gas production.
#ClimateChange #Climate #ESG #SustainableInvesting
http://bit.ly/3YYclHd
US Republicans seek to stop ESG investing as it raises costs for Oil/Nat Gas Industry
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