Oil majors face “monumental” costs to reach climate goals
On the flaring front, it often would suffice if resource holders would facilitate access to those flares to those that want to develop them. Maybe stabilize gas flows a bit. In Africa, if someone gets interested in a particular flare, the resource owner will immediately want to have the cream of the project without lifting a finger. But as long as he does nothing, flaring just continues. Give us this trash and we reduce your carbon footprint for much less …
Europe’s largest oil companies must roughly double the amount of money they’re now dedicating to “new energies” by the end of the decade to meet key climate targets, according to a report from JPMorgan Chase & Co. that suggests the challenge facing the fossil fuel industry has been vastly underestimated.
