Major Oil and Gas Companies Use Deception to Dodge Climate Responsibility

By : Wibbitz Top Stories

Published On: 2022-05-12

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Major Oil and Gas Companies , Use Deception to Dodge , Climate Responsibility .
Gizmodo reports that big oil and gas companies have
been selling off polluting assets to no-name companies
as a sneaky way of hitting net-zero goals.
On May 11, the Environmental Defense Fund
released an analysis that highlights the dishonest means
of hitting net-zero goals and appearing greener on paper.
On May 11, the Environmental Defense Fund
released an analysis that highlights the dishonest means
of hitting net-zero goals and appearing greener on paper.
Companies like Shell, Exxon and Chevron have reportedly
offloaded gas and oil assets to smaller companies
that are not subject to oversight or public scrutiny.
Companies like Shell, Exxon and Chevron have reportedly
offloaded gas and oil assets to smaller companies
that are not subject to oversight or public scrutiny.
Companies like Shell, Exxon and Chevron have reportedly
offloaded gas and oil assets to smaller companies
that are not subject to oversight or public scrutiny.
Once these assets are sold,
years of [climate] progress
are reset instantly, Andrew Baxter, Director at EDF and one
of the analysis’ co-authors, via Gizmodo.
Once these assets are sold,
years of [climate] progress
are reset instantly, Andrew Baxter, Director at EDF and one
of the analysis’ co-authors, via Gizmodo.
According to Gizmodo, these smaller
companies typically ramp up production
which results in increased emissions.
Once you multiply this across potentially
hundreds of assets a year, year over year,
this is a really scary phenomenon with
negative environmental impacts, Andrew Baxter, Director at EDF and one
of the analysis’ co-authors, via Gizmodo.
In addition to the climate problem,
there’s a major disclosure problem that
undermines accountability in this space, Gabriel Malek, a project manager at EDF and one of the analysis’ co-authors, via Gizmodo.
In 2022, the International Energy Agency found that
the fossil fuel industry was pumping out 70% more
methane emissions than what official estimates showed.
The oil and gas industry can sell their
oil and gas assets for whatever reason
that they want, but they can’t
sell their climate responsibility, Andrew Baxter, Director at EDF and one
of the analysis’ co-authors, via Gizmodo

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