An energy transition loophole is allowing Big Oil to offload high-polluting assets to private buyers

5/19/2022 8:10:00 AM
An energy transition loophole is allowing Big Oil to offload high-polluting assets to private buyers

An energy transition loophole is allowing Big Oil to offload high-polluting assets to private buyers

Climate, Oil And Gas

An energy transition loophole is allowing Big Oil to offload high-polluting assets to private buyers

Some of the world's largest corporate emitters are increasingly selling off dirty assets in a bid to look greener on paper.

EDF says top sellers like Shell, for example, are well positioned to pilot climate-aligned asset transfers.Ina Fassbender | Afp | Getty ImagesBetween 2013 and the point of transfer, almost no routine flaring had occurred under the stewardship of TotalEnergies, Eni and Shell, the top seller of assets from 2017 through to 2021, according to the EDF's analysis.

Almost immediately thereafter, however, flaring dramatically increased. The case study was said to highlight the climate risks stemming from upstream oil and gas transactions.Gas flaring is the burning of natural gas during oil production. This releases pollutants into the atmosphere, such as carbon dioxide, black carbon and methane — a potent greenhouse gas.

Read more: CNBC »

Sarah Paulson & Writer Sarah Burgess Explored Linda Tripp’s Contradictions in ‘Impeachment’ – Contenders TV: The Nominees

Writer Sarah Burgess and star Sarah Paulson said they were trying to understand and depict what motivated Linda Tripp in Impeachment: American Crime Story. The FX limited series depicts the impeach… Read more >>

How about you worry about the fact you put traitors I'm office. Pls provide evidence of cheap and efficient source of energy other than oil that will power a whole country here are my naked photos They can't be that bad if they are in the S&P 500 ESG index...right? 👀

Big Brother Big Sisters push for more volunteers; 1,400 kids on a waiting list'Every kid deserves a mentor in their life. Someone that could help them find their own spark, and what makes them unique, and what gives them energy.'

Opinion | Why Do We Swallow What Big Oil and the Green Movement Tell Us?

Opinion | Why Do We Swallow What Big Oil and the Green Movement Tell Us?Going from fossil fuels to renewable energy is not as easy as flipping a switch, writes tomfriedman. tomfriedman No one talks about the power of harnessing big dick energy

2 San Fernando men killed when sedan collides with big rig on 210 Freeway in TujungaThe crash happened Monday evening near La Tuna Canyon Road

‘Inflation is a big concern’: Economics professor shares recession concerns

‘Inflation is a big concern’: Economics professor shares recession concernsPrices are going up on almost everything these days, and financial experts believe the U.S. could be on the brink of a recession. Thanks to Trump gutting everything, ruining distribution networks and encouraging a pandemic. Now would be a good time to pay a statutory PFD, but nope they can’t follow laws very well at all. Anything to help the special interest groups.

Address Related to Ronin Hack Makes Big Ethereum TransferThe Ethereum funds that have been moved to the Tornado Cash coin mixer

Lone Pine bet big on tech in the first quarter and jumped back into BlockLone Pine Capital opened positions in several tech stocks in the first quarter and increased its position in Block by almost 1000%.

— all publicly held firms with net-zero targets — sold off their interests in an onshore oil mining field in Nigeria last year to a private-equity backed operator.INDIANAPOLIS — Big Brothers Big Sisters of Central Indiana saw its largest group of"littles" graduate high school and now they're preparing for bright futures.about 12 percent of total U.Staff and news service reports Join the Conversation We invite you to use our commenting platform to engage in insightful conversations about issues in our community.

EDF says top sellers like Shell, for example, are well positioned to pilot climate-aligned asset transfers. Ina Fassbender | Afp | Getty Images Between 2013 and the point of transfer, almost no routine flaring had occurred under the stewardship of TotalEnergies, Eni and Shell, the top seller of assets from 2017 through to 2021, according to the EDF's analysis. "I didn't have any older siblings. Almost immediately thereafter, however, flaring dramatically increased. Still, the most important delusion of the green movement today — of which I am a proud, if grouchy, member — is telling itself that because the price of wind and solar technology has fallen so low now that it can beat coal and natural gas in most markets, often even without subsidies, it’s “game over” for fossil fuels. The case study was said to highlight the climate risks stemming from upstream oil and gas transactions."I had little siblings, so I didn't really have nobody there to mentor me. Gas flaring is the burning of natural gas during oil production.

This releases pollutants into the atmosphere, such as carbon dioxide, black carbon and methane — a potent greenhouse gas. "Every kid deserves a mentor in their life," Valory Myers, a board member and big sister, said. If you can’t install the transmission lines — to get that sun and wind power from the vast open spaces where it is generated to the big urban areas where it is needed — and if you cannot set aside more land to install the scale of solar and wind farms you need to replace coal, gas or nuclear, it doesn’t matter that your renewables are cheaper on a per-kilowatt-hour basis. The World Bank has ending this "wasteful and polluting" industry practice is central to the broader effort to decarbonize oil and gas production. CNBC has contacted Shell, TotalEnergies and Eni for a request to comment on EDF's analysis." Myers matched with her “little” Mariah five years ago. A 'wink wink, nod nod approach' Andrew Logan, senior director of oil and gas at nonprofit Ceres, told CNBC that EDF's research shows there has been something of a "wink wink, nod nod approach" to transferred emissions to date, whereby energy majors sell off high-polluting assets without worrying too much about whether the purchaser is going to do what they are supposed to. and Europe, where many people don’t want wind farms, solar fields, electricity lines — or natural gas pipelines — in their backyard. "But what's interesting is that those private equity firms tend to be backed by public money. Myers said when she met Mariah, she instantly saw a lot of similarities from when she was that age.

You know, it is public pensions funds that are the partners in those firms so there is leverage there," he added. Larry Fink, CEO and Chair of BlackRock, the world's largest asset manager, sharply criticized oil and gas giants for selling out to private firms during the COP26 climate conference in Glasgow, Scotland, last year."It's just being able to foster that spark and see her thrive. It would supply renewable energy to about two million customers,” Bloomberg reported last month. Fink said the practice of public disclosed companies selling high-polluting assets to opaque private enterprises "doesn't change the world at all. It actually makes the world even worse. Big Brothers Big Sisters celebrated 64 graduating matches, making this the biggest match group in its history." In July 2021, some of the world's largest oil and gas majors were ordered to pay hundreds of millions of dollars as part of a $7. needs thousands of miles of new power lines to bring wind and solar power from prairies and deserts to cities in the transition away from fossil fuels.

2 billion environmental liabilities bill to retire aging oil and gas wells in the Gulf of Mexico that they used to own. Mariah's experience is one of many success stories from Big Brothers Big Sisters that board members want to see more of. Bloomberg | Bloomberg | Getty Images Ceres' Logan said that an important part of responsible asset transfer must be reckoning with the costs of shutting down wells at the end of their lives. In North America, for example, he highlighted the "huge problem" with so-called "orphan wells. I'm going to be studying child psychology," Mariah said. So now, “17 years after the start of the project, not a single wire has been strung." These are oil and gas wells abandoned by fossil fuel extraction industries which can end up in the hands of companies with no ability or intention of cleaning them up. "It is interesting to look at how different the asset sale process is in most of North America compared to the assets in the Gulf of Mexico because, in the Gulf of Mexico, there are federal rules that basically say if you sell an asset and the next company — or the next, next, next company doesn't clean it up — that liability comes back to you," Logan said. "It's more than just a pandemic issue," Daniel Pierson, a board member and Big Brother Alumni, said.

"So, you have a very strong interest in picking your partners wisely and making sure they have the money to clean the well. Pick your poison — but grow up." VIDEO . The majority of those on the waiting list are boys.