From: pothead <pothead@snakebite.com>
Newsgroups: alt.global-warming,alt.fan.rush-limbaugh,can.politics,alt.politics.liberalism,alt.politics.democrats,alt.politics.usa.republican
Subject: Re: Big Oil Retreats: Europe?s Energy Giants Ditch Green Pledges
Date: Sat, 22 Mar 2025 15:19:30 -0000 (UTC)
Organization: Libtard Rehabilitation Program
On 2025-03-22, AlleyCat <katt@gmail.com> wrote:
>
> Big Oil Retreats: Europe's Energy Giants Ditch Green Pledges
>
> Europe's oil majors scale back climate ambitions.
>
> Europe's oil and gas giants are increasingly scaling back their climate goals
> as they struggle to deliver on their ambitious clean energy pledges.
> [emphasis, links added]
>
> In 2022, Norway's state-controlled energy giant Equinor ASA laid its roadmap
> to achieving net zero emissions.
>
> However, in February Equinor scrapped a pledge to devote more than 50% of its
> gross capital expenditure to renewables and low-carbon solutions by 2030.
>
> Equinor has also abandoned plans to invest in Vietnam's offshore wind sector,
> dealing a significant blow to the country's green energy ambitions.
>
> This marked the first time Equinor has abandoned offshore wind development;
> in contrast, the company has previously exited more than a dozen fossil fuel
> projects to focus on renewables and low-carbon systems.
>
> "The energy transition has started, but the opportunity set for high-value
> growth is more limited than we had anticipated," Equinor CEO Anders Opedal
> said on Thursday.
>
> Similarly, Equinor has announced that it will not move forward with plans to
> build a pipeline to carry hydrogen from Norway to Germany with partner RWE,
> citing a lack of customers as well as an inadequate regulatory framework.
>
> Equinor was to build hydrogen plants that would enable Norway to send up to
> 10 gigawatts per annum of blue hydrogen to Germany.
>
> Similarly, Shell has announced plans to cease new offshore wind investments
> and is splitting its power division as CEO Wael Sawan looks to boost the
> company's profitability.
>
> "While we will not lead new offshore wind developments, we remain interested
> in offtakes where commercial terms are acceptable and are cautiously open to
> equity positions if there is a compelling investment case," a company
> spokesperson said in a statement carried by Reuters.
>
> Shell, like Equinor, appears to be systematically scaling back its clean
> energy investments.
>
> Earlier in the year, the company ditched plans to build a low-carbon hydrogen
> plant on Norway's west coast due to a lack of demand.
>
> "We haven't seen the market for blue hydrogen materialize and decided not to
> progress the project," a Shell spokesperson told Reuters.
>
I suppose the prospect of freezing during the winter months is no longer
appealing to the EU.
--
pothead
Filter Free For A While.