7 Matching Annotations
- Nov 2023
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Some 30% of the energy consumed in a net zero energy system in 2050 comes from low-emissions fuels and technologies that could benefit from the skills and resources of the oil and gas industry.
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for: stats - oil and gas industry - repurposing for clean energy
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stats: oil and gas industry - repurposing for clean energy
- only 30 % of the energy consumed in a clean energy future within 1.5 Deg C comes from low emission fuels and technologies that benefit from oil and gas industry resources
- this leaves a huge deficit of 70 %.
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question
- How will the transition account for these human and technological resources?
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Oil and gas producers account for only 1% of total clean energy investment globally.
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for: stats - oil and gas industry - clean energy investments
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comment
- Inclusive transformation
- Clearly, transforming the dirty fossil fuel industry into clean energy industry requires migrating as much of those 12 million dirty energy jobs as possible. We can't alienate the fossil fuel industry.
- the barometer to measure this paradigm shift in fossil fuel industry narrative is their investment into clean energy. Over the years, majors have acted like politicians, promising significant clean energy investment, then backsliding. There is no more time for that.
- Inclusive transformation
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If all national energy and climate goals are reached, this value is lower by 25%, and by 60% if the world gets on track to limit global warming to 1.5 °C.
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for: stats - fossil fuel industry - valuation in a 1.5 Deg C world
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stats: fossil fuel industry - valuation in a 1.5 Deg C world
- current 2023 valuation: 6 trillion USD
- current NDCs met (short of a 1.5 Deg C world): 4.5 trillion USD
- 1.5 Deg C world: 2.4 trillion USD
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To align with a 1.5 °C scenario, these emissions need to be cut by more than 60% by 2030 from today’s levels and the emissions intensity of global oil and gas operations must near zero by the early 2040s.
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The production, transport and processing of oil and gas results in just under 15% of global energy-related greenhouse gas emissions.
for: stats - oil and gas industry, stats - fossil fuel industry
- stats: oil and gas industry
- stats: fossil fuel industry
- The fossil fuel industry's production, transport and processing operations accounts for 15% of global energy-related greenhouse gas emissions.
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Oil and gas producers account for only 1% of total clean energy investment globally.
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for: stats - oil and gas industry, stats - fossil fuel industry
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stats - oil and gas industry
- stats - fossil fuel industry
- Oil and gas producers account for approximately 1% of total clean energy investment
- 60 % of that comes from 4 companies
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industry which currently provides more than half of global energy supply and employs nearly 12 million workers worldwide.
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for: stats - oil and gas industry, stats - fossil fuel industry
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stats - oil and gas industry
- stats - fossil fuel industry
- supplies approximately 50% of all total global energy
- employs 12 million people directly
- Since 2018, annual revenues average 13 trillion USD
- revenue split
- 50 % to governments
- 40% to investment
- 10% to shareholders and debt
- Major oil companies account for 13 % of all reserves
- National Oil Companies (NOC) account for
- over 50% of all production
- close to 60% of all reserves
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Tags
- stats - oil and gas industry
- stats - oil and gas industry - repurposing for clean energy
- migration - fossil fuel to clean energy
- fossil fuel to clean energy migration shortfall
- stats - fossil fuel industry - valuation in a 1.5 Deg C world
- stats - fossil fuel industry
- stats - oil and gas industry - clean energy investment
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