The week that shook Big Oil

June 5, 2021 ☼ oileconomyclimate

Source: MPR News - Link

A court in the Netherlands issued a landmark ruling against Royal Dutch Shell — an oil company already pledging to cut its carbon emissions to net zero by 2050 — ordering it to act faster.

At Chevron’s shareholder meeting, investors voted to demand that the company reduce its contribution to climate change. The demand was short on specifics, but investors made it clear that it was not enough to use renewable energy to power oil and gas operations: Real action on climate change means selling less oil.

It boggles my mind that oil companies aren’t shifting to become energy companies and pouring money into fuel cell, hydrogen, and solar research.