While the world may be changing, there are still areas that a lot of people are focusing all of their attention on. Think of all the recent topics that have come up, some of them are sticking to the minds of many, especially when it comes to climate of the oil scene. We all know that oil and oil prices play a huge part in this world. Now there are several huge names behind the oil business that we are all familiar with. In any case, there are a lot of things about the oil industry that some of us never knew before. Right now, there are five major players that are publicly-traded oil and gas across the mark. In fact, you may be familiar with any of them including Royal Dutch Shell, BP, Total, Chevron, and ExxonMobil.
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Over the years, a great deal of money (about $1Bn) has been invested by numerous shareholders while behind the Paris Agreement on misleading climate-related branding and lobbying. Even with this agreement, there have been conflicting matters when trying to reach different goals.
In a sense, every major oil and gas major is open to get climate change. At the same time, they are always looking to maintain operations while also looking to expand any of their fossil fuel operations. Now there have been super majors who have invested millions to brand themselves as climate champions. While that may be the case, there is so much more behind it all that when dealing with investing in the price of oil price. Climate for these companies has a pretty big impact on what stands.
What Is Really Being Done Regarding Climate Solutions
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What interesting about these oil companies, is that they are putting a little part of their budgets towards finding climate solutions which means that a very small percentage of the top five majors are being put towards low-carbon technologies. On top of that, there are even other top tier publicly listed oil companies averaging even less than the top super players. Different budgets are going to different areas, all becoming part of an important transition.
Now, you should know that these types of transitions are going to be quite the process. Things like this can’t happen overnight, so it’s all going to take some time. In any sense, it’s been proven that we should be looking to push more towards transition when thinking about climate change. Both gas and oil productions are going to have to decline by a great margin over the next few decades. Two of the top five majors (BP and Shell) have made it clear that we shouldn’t look to burn through any of our fossil fuel reserves. On top of that, it’s going to be hard trying to expand to new reserves as well.
Right now, we should be looking to improve the direction we are head being that we aren’t heading the right way now.
To Close Things Out
There are actually multiple ways we could push towards growth, one being for oil companies to become renewable allies. Together, a step can be taken on different scales in order to address the problems of the oil and gas industry. Different tactics can come in handy, even with investing in R&D. By now we should all know that we are facing a problem that needs the attention of as many majors as possible.
Many investors are still looking to investing in climate in oil prices, a move that could be better with close attention in mind. Right now, spending on climate lobbying and branding are very limited, but with progress, everything can take a turn for the better.