The oil majors are slowly recognizing that in a decarbonized world their fundamental business is going to have to change.
So what are they thinking? Where are they deploying resources -- and not deploying resources?
Ed Crooks is the right person to ask. He’s our oil major whisperer. He Vice Chair for the Americas at Wood Mackenzie.
Last time we had him on the show was in May of 2020 when the pandemic-driven collapse of oil demand sent key oil prices negative.
Ed talks with our host Shayle Kann about the rebound since then and how oil and gas companies are using this new influx of cash.
They discuss the longstanding differences between American and European oil majors: The Europeans are more aggressive on new energy investments; the Americans are more conservative. Does this distinction still hold, even under the rising pressure of shareholders, employees and governments on these companies to take climate action?
And if they’re not going to invest directly in renewables and power, how will their business models change in a decarbonized world? Shayle and Ed talk about what it would mean to become a “carbon management company.”
They also talk about the differences between 1.5- and 2.0-degrees-celsius worlds and what each would mean for oil and gas companies.
Finally, they read the tea leaves on carbon pricing. Does the Biden administration’s aggressive stance on climate change the political chances of legislation in the U.S.?
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Om Podcasten
Clean tech, green finance and energy innovation are the three lanes on the road to a successful global energy transition. At the intersection of these lanes is a place where ideas on finance, technology and policy are shared and debated. That intersection is Interchange Recharged. Sylvia Leyva Martinez, principal analyst at Wood Mackenzie, invites visionaries, entrepreneurs, policy-makers and energy analysts to explore the newest developments in renewable technology, explain the ideas on global energy policy that could accelerate the energy transition, and identify new funding and financial models that could solve the biggest challenges we face on the way to net zero. Sylvia and her guests bring you data and forecasts on clean technology, climate science, and offer predictions on the build out of utility-scale projects and the future of green finance. What impacts do the annual UN Conference of the Parties have on decarbonisation goals and climate change? What will COP30 bring? What’s happening in global EV adoption and development? What’s the forecast for solar energy, one of the major success stories of renewable energy in the last ten years? What does the data tell us about the future of hydrogen, of nuclear, or of low-carbon power? These are examples of the insights and detailed analyses you can expect bi-weekly on Tuesdays at 7am ET. If you like The Energy Transition Show, Catalyst with Shayle Kann, The Big Switch from Columbia University, Open Circuit with Stephen Lacey or The Green Blueprint, you’ll enjoy Interchange Recharged. Want to get involved with the show? Reach out to podcasts@woodmac.com to: Bring Sylvia and Interchange Recharged to your event Be a guest on the show Sponsor an episode Ask a question to Sylvia or one of our guests Check out another leading clean tech global podcast by Wood Mackenzie, Energy Gang, at woodmac.com/podcasts/the-energy-gang Wood Mackenzie is the leading global data and analytics solutions provider for renewables, energy and natural resources. Learn more about Wood Mackenzie on the official website: https://www.woodmac.com/