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J2. Fossil Fuel Industry

Shell Denies Turning Its Back on Green Energy Despite Massive Profits and Wind Project Sell-Offs

Royal Dutch Shell Plc .com - Thu, 07/25/2024 - 09:29

Posted by John Donovan: 25 July 2024

In a move that can only be described as Shell saying, “Green energy? Never heard of her,” the oil giant has flatly denied ditching the green energy revolution. This denial comes hot on the heels of Labour’s ambitious £8 billion plan to launch a public energy company in Scotland, aimed at setting the country on a path to renewable glory.

Shell, fresh from raking in a casual £22.3 billion profit last year, is reportedly looking to offload its two floating wind projects, MarramWind and CampionWind, won through the ScotWind auction alongside Scottish Power. This, despite just receiving funding from SNP ministers for the Acorn carbon capture scheme. Because why invest in clean energy when you can just pay lip service and move on?

A Shell spokesperson, with a straight face, insisted, “Shell is wholly committed to the green energy transition,” amid rising accusations that oil and gas giants like Shell “cannot be trusted when it comes to climate action or a just transition.”

The UK government, always eager to join the fun, has unveiled its GB Energy plans, promising to pour £8.3 billion into clean power projects across the UK, with Scotland leading the charge. This follows the announcement of a potentially £60 billion partnership between GB Energy and the Crown Estate, aimed at bolstering the UK’s energy independence. Where will GB Energy be headquartered in Scotland? Still a mystery, folks.

Meanwhile, reports suggest Shell could sell its 5GW ScotWind projects, which include MarramWind (up to 3GW) and CampionWind (2GW). Friends of the Earth Scotland’s Rosie Hampton hit the nail on the head, saying, “Shell is showing once again that it cannot be trusted when it comes to climate action or a just transition. Its priorities are still drilling for as much dirty fossil fuel as possible regardless of the devastating climate impacts.”

Adding to the irony, Shell boasted about its £4.3 billion investment in low-carbon measures in 2023. Because apparently, throwing a fraction of your obscene profits at green projects makes everything okay. “Shell is wholly committed to becoming a net zero emissions energy business by 2050,” they claim, while simultaneously eyeing a profitable exit from renewables.

As the UK government pushes its Great British Energy Bill and Labour promises a clean energy revolution, it seems Shell is content to play its part in the grand theater of greenwashing. So, here’s to Shell: the master of saying one thing and doing another, all while making a tidy profit. Cheers to your commitment to the planet, or rather, to your pockets.

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©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net

Congress Must Stop Joe Manchin’s Dirtiest Deal

Oil Change International - Thu, 07/25/2024 - 08:10

In response to Senators Joe Manchin and John Barrasso releasing the Energy Permitting Reform Act of 2024 this week, Allie Rosenbluth, US Manager at Oil Change International said:

“Don’t be fooled: the Energy Permitting Reform Act is another dirty deal to fast-track fossil fuels above all else. It would unleash more drilling on federal lands and waters, unnecessarily rush the review of proposed oil and gas export projects, and lift the Biden administration’s pause on new LNG exports. 

“The International Energy Agency has made it clear: no new fossil fuel project is compatible with a livable future. The United States already leads the world in oil and gas production and is failing to live up to its climate commitments.

“This bill is yet another dangerous attempt by Senator Manchin to line the pockets of his fossil fuel donors, sacrificing communities and our climate along the way. We urge Congress to reject this proposal and commit to action that protects frontline communities from the impacts of fossil fuel development and the climate crisis.”

The post Congress Must Stop Joe Manchin’s Dirtiest Deal appeared first on Oil Change International.

Shell’s Big Green PR Stunt: Building a Hydrogen Plant While Still Loving Oil

Royal Dutch Shell Plc .com - Thu, 07/25/2024 - 07:23

Posted by John Donovan: 25 July 2024

In a move that’s probably more about headlines than heart, Shell announced on Thursday it’s building a 100-megawatt renewable hydrogen electrolyser in Germany. Yes, that’s right, the same Shell that adores oil spills and carbon emissions is now pretending to care about the environment. The new unit at the Rheinland refinery is scheduled to start in 2027 and will pump out up to 44,000 kg of renewable hydrogen daily to “partially” decarbonize site operations. Because who needs full decarbonization when partial will do?

Shell is also dangling the carrot of renewable hydrogen possibly, maybe, potentially being supplied to lower industrial emissions in the region as customer demand evolves. In other words, they’ll wait until the public kicks up a fuss before doing anything meaningful.

Meanwhile, in the Netherlands, Shell is busy constructing the Holland Hydrogen I project with a capacity of 200 megawatts. This is one of Europe’s largest renewable hydrogen plants under construction. But let’s not forget, this is the same company that, under CEO Wael Sawan, has been busy scrapping, selling, and retreating from renewable projects faster than a cat from a cucumber. Since taking office in January 2023, Sawan has focused on the most profitable operations, primarily oil and gas, while giving renewable energy the cold shoulder.

Despite all the greenwashing, Shell plans to invest a whopping US$10 billion to US$15 billion in low-carbon energy by 2025. For context, in 2023, they splurged US$5.6 billion on low-carbon energy, with a generous 23% of that being capital spending. So, while they’re busy patting themselves on the back for these token efforts, the real money is still pouring into the fossil fuels that keep our planet toasty.

So, here’s to Shell and their half-hearted attempt at sustainability. Cheers to your renewable hydrogen plant, and may it one day make up for all the environmental damage you’ve done. But we won’t hold our breath.

Shell’s Big Green PR Stunt: Building a Hydrogen Plant While Still Loving Oil was first posted on July 25, 2024 at 3:23 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net

Potential $50 billion Southwestern energy giant emerges as Diamondback seeks to buy rival Endeavor

Fuel Fix - Wed, 07/24/2024 - 20:43

Diamondback Energy's acquisition of Endeavor Energy Resources will create the region's third largest energy producer.

Energy’s impact on Texas economy shattered records last year

Fuel Fix - Wed, 07/24/2024 - 20:43

The impact of the energy industry on Texas' economy shattered records, but that performance is not guaranteed to continue

Texas power grid operator approved for a 40% budget increase

Fuel Fix - Wed, 07/24/2024 - 20:43

The Texas power grid operator will add nearly $119 million to its annual budget.

A Texas energy company will pay $1.3 million over pollution in the Permian Basin, EPA says

Fuel Fix - Wed, 07/24/2024 - 20:43

The EPA last year announced aerial surveillance of “super-emitters.”

ERCOT can’t be sued over power grid failures during 2021 winter storm, Texas Supreme Court rules

Fuel Fix - Wed, 07/24/2024 - 20:43

The all-Republican court narrowly found that the nonprofit corporation qualifies for sovereign immunity.

Houston's CenterPoint Energy CEO among most overpaid in U.S.

Fuel Fix - Wed, 07/24/2024 - 20:43

The energy firm leader's $37.8M salary is 366 times median employee pay.

House votes to block China from buying oil from US reserves

Fuel Fix - Wed, 07/24/2024 - 20:43

The measure is the first in a series of GOP proposals aimed at “unleashing American energy production.''

After underestimating power demand, Texas electric grid operator gets federal permission to exceed air quality limits

Fuel Fix - Wed, 07/24/2024 - 20:43

The U.S. Department of Energy granted permission for power plants to release more pollution than is normally allowed — if grid conditions worsen

Why Texans will carry cost of 2021 winter freeze for next 30 years

Fuel Fix - Wed, 07/24/2024 - 20:43

Texans will be bailing out energy providers haurt by the winter storm for decades.

Biden administration quietly approves huge Texas oil export project

Fuel Fix - Wed, 07/24/2024 - 20:43

 The proposed offshore terminal is one of four projects intended to expand oil export capacity.

Texans can apply for financial help with their soaring energy bills

Fuel Fix - Wed, 07/24/2024 - 20:43

The Texas Utility Help program has been reopened for low-income Texans to apply. 

Equipment that's designed to cut methane emission is failing

Fuel Fix - Wed, 07/24/2024 - 20:43

In Texas' oil and gas fields, technology to curtail methane "just doesn’t work," environmentalists say.

Texas power grid knocked in federal report analyzing winter readiness

Fuel Fix - Wed, 07/24/2024 - 20:43

An analysis by the Federal Energy Regulatory Commission indicates that the grid would not hold up well under extreme winter weather conditions. 

EXPLAINER: What is the Strategic Petroleum Reserve?

Fuel Fix - Wed, 07/24/2024 - 20:43

Tapping the reserve is among the few things a president can do to try to control inflation.

Houston-based pipeline operator agrees to $50M California oil spill settlement

Fuel Fix - Wed, 07/24/2024 - 20:43

The leak sent blobs of crude ashore in surf-friendly Huntington Beach and other coastal communities. 

How Enron spelled the end of Houston's Roaring 90s

Fuel Fix - Wed, 07/24/2024 - 20:43

The collapse of the company marked the end of the decade's economic optimism and growth.

Gov't OKs nearly $190M in bids from offshore oil lease sale

Fuel Fix - Wed, 07/24/2024 - 20:43

 Companies bid on about 2% of the tracts offered for sale in the Gulf of Mexico.

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