Posts Tagged ‘fossil fuels’
“You can have a healthy fossil-fuel balance sheet, or a relatively healthy planet”*…
The first two installments of what will be an on-going series from ProPublica and Drilled, covering fossil fuel companies in the 1990s who, even as they denied the reality of climate change, were quietly funding research that favored climate fixes that would protect their businesses…
An investigation by ProPublica and Drilled has found that fossil fuel companies have been funding climate research at prestigious U.S. universities for more than 30 years. Their support has helped amplify the work of scientists who promote the idea that we can stop the climate crisis without breaking our dependence on oil, gas, and coal.
The research produced by those schools in turn shaped global climate models, as well as the policy and technology solutions adopted by governments around the world.
Ultimately, it fostered a misperception that climate change could be solved without dramatically curtailing fossil fuels — a notion that has delayed emissions cuts by decades.
Corporate funders sponsored entire centers, paid the salaries of researchers, kept offices on campus and in some cases had veto power over projects.
Companies maintain they are supporting innovation and needed science. Universities say that with safeguards, sponsorship enhances research programs while preserving academic independence.
Still, the impact of funding constitutes a pattern that Benjamin Franta, an associate professor of climate litigation at University of Oxford, called the “colonization of academia.”…
“Why Carbon Capture Can’t Conceivably Solve Climate Change“- For decades, oil companies have funded universities’ research into climate change “solutions” that would not require the public to stop using oil and gas. Carbon capture is one of their favored ideas. One snag: It won’t fix the climate crisis. From Katie Worth and Lucas Waldron.
“How Oil Execs Shaped A Landmark Climate Study“- BP created an elite Princeton research center to address the climate problem without getting off fossil fuels. Its key work, a paper known as “Wedges,” shaped climate discourse for a generation. From Maddie Stone.
As the first piece concludes…
Climate experts know about the costs, technical troubles, and failures of CCS [Carbon Capture and Sequestration] test projects.
Yet many of them have continued to boost the technology, even as they have downplayed solutions showing greater progress.
For example, the same modelers who overestimated the potential of geological carbon storage repeatedly underestimated solar power — one of the energy technologies that would allow more oil to remain in the ground.
A distressing– but critically important– read. How the fossil fuel industry turned the plan to solve climate change into a plan to save itself: “Carbon Captured,” from @propublica.org and @drilledmedia.bsky.social.
And as a reminder that, while climate change is certainly reason enough, it’s by no means the only reason to care: “Five Americans die every hour from toxic vehicle emissions, study finds.”
* Bill McKibben
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As we face facts, we might give ourselves a short break on this, the anniversary of “Raspberry Beret,” by Prince & The Revolution, hitting #1 on the charts in 1985.
Here is the official video (now in 4K). Directed by his Purple Majesty himself, it features graphics and animation from Drew Takahashi, George Evelyn, and the crew at Colossal Pictures.
“As you sow, so shall you reap”*…
The circle of life, via Nothing Here (@nothinghere_but).
* Galatians 6:7
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As we watch what goes around come around, we might send very carefully-crafted birthday greetings to Jacques de Vaucanson; he was born on this date in 1709. A mechanical genius, de Vaucanson invented a number of machine tools still in use (e.g., the slide rest lathe) and created the first automated loom (the inspiration for Jacquard). But he is better remembered as the creator of extraordinary automata. Among his most famous creations: The Flute Player (with hands gloved in skin) and The Tambourine Player, life-sized mechanical figures that played their instruments impressively. But his masterpiece was The Digesting Duck; remarkably complex (it had 400 moving parts in each wing alone), it could flap its wings, drink water, eat grain– and defecate.
Sans…le canard de Vaucanson vous n’auriez rien qui fit ressouvenir de la gloire de la France. (Without…the duck of Vaucanson, you will have nothing to remind you of the glory of France)
– Voltaire
“Strange, strange are the dynamics of oil and the ways of oilmen”*…
… and at the same time, all too predictable…
Oil executives love to talk about the energy transition. But for all the platitudes about technologies such as hydrogen and carbon capture, most are doubling down on what they know best.
Oil.
Spending on new offshore oil projects over the next two years is projected to soar to levels not seen in a decade.
In Saudi Arabia, the state-owned oil giant is embarking on a series of massive offshore expansion projects designed to boost the kingdom’s crude production. The United Kingdom and Norway are pumping more money into the North Sea in hopes of lifting out more oil. Exxon Mobil Corp., America’s oil giant, is plowing money into projects in waters off Guyana and Brazil.
The offshore revival represents a shift after a decade of focus on onshore shale plays and amounts to a vote of confidence in oil’s long-term future. The move is notable as it follows several years of mounting talk of diversifying oil companies’ business models…
The world is still likely to consume large amounts of oil for decades to come, even if energy transition efforts gain steam and global crude demand begins to decline. That means investment in new or expanded fields is needed to offset declining production from existing wells. The result is something of a race, with oil companies seeking to identify fields that can produce at low oil prices and outlast competitors in a shrinking market…
Rystad Energy, a consulting firm, reckons that offshore spending will eclipse $100 billion in 2023 and 2024. That would mark the first time offshore oil investment eclipses the $100 billion mark in consecutive years since 2012 and 2013, the firm said. Offshore spending will account for 68 percent of spending on newly sanctioned projects over the next two years, compared with 40 percent from 2015 and 2018…
At first glance, offshore projects appear ill-suited for a world moving away from oil. Offshore development is incredibly expensive and time consuming. Exxon’s Payara development off Guyana, for instance, comes with a $9 billion price tag. Hydraulically fracturing and drilling a shale well, by comparison, is relatively cheap and quick.
Yet shale production is increasingly challenged. Output from shale wells tends to fall quickly, meaning new wells have to be quickly drilled to offset production losses. After more than a decade of intense drilling, many of the most productive locations in the United States have been tapped, analysts say.
Rising interest rates also present a challenge for U.S. shale producers. Many shale companies are relatively small by industry standards and rely on debt to fuel their drilling programs.
Offshore, meanwhile, tends to be the domain of large producers, which are flush with cash after a year of record profits and better able to finance projects from their own balance sheets. Offshore platforms also rely on massive economies of scale, producing vast amounts of oil for decades at a time. Exxon’s Payara project, for example, is projected to deliver 224,000 barrels of oil a day…
More at: “Offshore oil is about to surge,” from @EENewsUpdates.
Related: Countries spent a record-breaking $1 trillion on fossil fuel subsidies in 2022– “Want to cut global emissions by 10%? Stop fossil-fuel subsidies.”
* Thomas Pynchon, Gravity’s Rainbow
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As we contemplate carbon, we might spare a thought for Harry Coover; he died on this date in 2011. A chemist and inventor (with 460 patents), he is best remembered as the creator of Super Glue.
In 1951, while working at Eastman Kodak, Coover accidentally discovered (then patented) the adhesive properties of cyanoacrylate monomers that needed neither heat nor pressure to permanently bond between a wide variety of surfaces. His creation was initially marketed as “Eastman 910,” largely for industrial purposes. In 1963, Loctite purchased the patent and business from Eastman Kodak, and began marketing (what they trademarked “Super Glue”) more broadly. While it still found industrial use (and then medical application, e.g., repairing arteries, veins, teeth, and as a spray to seal open wounds of soldiers during combat in Vietnam), its big push was into the consumer market. Memorable advertising showed a car lifted by a crane using an attachment bonded with just a few drops.
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