Why big oil is slowly turning green
The world's biggest oil and natural gas companies are inching toward greener businesses, driven by a handful of market and policy trends.
Why it matters: The shift shows that global oil companies see cleaner energy technologies as sound investments, not merely greenwashing and public relation stunts. The changes, underway at most international oil producers and particularly pronounced among European firms, are happening even as President Trump's policies are heading in the other direction.
The drivers:
1. Companies want to grow demand for natural gas, which is an increasingly large portion of their portfolios, in the electricity space and elsewhere. When burned, gas is cleaner than coal and oil, but there are concerns about emissions of methane, a potent greenhouse gas that's also the primary component of natural gas.
2. Governments around the world are pushing policies cutting greenhouse gas emissions from fossil fuels. This includes the 2015 Paris accord Trump says the U.S. will withdraw from, as well as domestic regulations cutting methane emissions, which are proving harder to repeal than the Trump administration thought.
Much more: https://www.axios.com/why-big-oil-is-slowly-turning-green-2515973927.html
= new reply since forum marked as read
