Comment on Oil and gas sector ‘losing its social licence to operate’, UK boss warns by Mike Parr

Not surprising that the fossil-dinosaurs have positioned themselves wrt CCS – it keeps the fossil show on the road – so they hope – albeit with a tech that has yet to be shown to work when coupled to industrial process such as SMR, steel, cement etc.

What will happen next is corporate socialism, after having knowingly screwed the planet (the oil majors knew since the mid-1980s what was coming down the track – ref; Exxon, BP, Shell et al) they will hold their grubby hands out for subsidies to develop CCS. Of course the alternative: green hydrogen from renewables – will be ignored cos that would mean no more drilling into the earth for oil or gas.

There is also another problem with the green-H2/RES route – it is has very low returns. By contrast, oil&gas has very high returns (which at the moment do not price in externalities).

So the approach will be to max out on subsidies to obtain a tech (CCS) that partly resolves emissions whilst maintaining profitability by getting somebody else to fund the tech to address the externalities – what’s not to like?...

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Tags: transport road GIS Euractiv

Fonte: Euractiv