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Related: About this forumShell's 'Delusional' Net Zero Strategy Commits $8 Billion to Fossil Fuels
https://www.desmogblog.com/2021/02/11/shell-net-zero-oil-fossil-fuels
Shells 'Delusional' Net Zero Strategy Commits $8 Billion to Fossil Fuels
Shells new net zero strategy is grotesque and includes an impossible reliance on tree-planting, campaigners have claimed.
The oil major today revealed an accelerated strategy to reduce oil production and decarbonise its products by 2050.
Shells oil production peaked in 2019, the company confirmed. Under the new plans, oil and gas production would fall 55 percent by 2030, with an expected gradual reduction in oil production of one to two percent a year, including divestments and natural decline.
But environmentalists claim Shells approach requires a continued reliance on fossil fuels, as well as a delusional reliance on nature-based solutions to reach decarbonisation.
(snip)
'Brazen
However, Shells improved targets were overshadowed by its plans to pour $8 billion a year into oil exploration and gas pumping in the short term, in contrast to $2 to $3 billion a year into renewables and hydrogen.
The oil firm's strategy also involves buying an additional 25 million tonnes a year in controversial carbon capture and storage (CCS) capacity by 2035, in addition to 4.5 million tonnes already at the operational or planning stage.
Shell has also said it would expand its delivery of liquified natural gas (LNG) by seven million tonnes a year until 2025, while promising customers the option of carbon neutral LNG to help with their own carbon footprints through offsetting. Shell already gives its business customers the option of offsetting natural gas emissions through buying voluntary carbon credits from nature-based products around the world.
Carbon Capture
Try to capture what was already naturally sequestered.
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Shell's 'Delusional' Net Zero Strategy Commits $8 Billion to Fossil Fuels (Original Post)
NeoGreen
Feb 2021
OP
They just have to say they are working on the problem and run some slick PR ads
Shermann
Feb 2021
#2
abqtommy
(14,118 posts)1. Follow the money, Honey! This is why our future isn't sunny!
Shermann
(7,412 posts)2. They just have to say they are working on the problem and run some slick PR ads
They have an unbelievably friendly audience in the GOP that will be completely accepting of "fig leaf" science.
Magoo48
(4,705 posts)3. Yes, the future is grim. Carbon Capture is a greenwash joke.
We continue to do what we can as individuals, because it is right. Nevertheless.
Monumental suffering is on the horizon for our next generations due to climate catastrophe with their only survival prospects hidden on the socioeconomic killing fields of nebulous adaptations.