From: NoBody <NoBody@nowhere.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: Sun, 23 Mar 2025 08:49:37 -0400
Organization: A noiseless patient Spider
On Sat, 22 Mar 2025 15:19:30 -0000 (UTC), pothead
<pothead@snakebite.com> wrote:
>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.
They'll just put the burden on the US to have the the "green energy".