Three very large stories are making headlines today around the world as environmental activists flare up discussions about the breakup of Shell, as well as put Exxon in front of the United States government again and questioned about statements made 25 years in the past and their recommitment to hydrocarbons even after Engine No. 1 took seat in the boardroom.
All we can say is you are doing a good job defending the industry, for more on these stories please see the links below.
James Comer, Republican, says this is a setting for the primetime news
Representative James Comer, top Republican on the committee, did not mention climate change in his opening remarks and said the panel should be addressing inflation and high energy prices he linked to policies of President Joe Biden’s administration.
“The purpose of this hearing is clear: to deliver partisan theater for primetime news,” Comer said. Read More
Activists Hedge Fund “Third Point” calls for Shell breakup
Shell Chief Executive Ben van Beurden told reporters that Shell’s strategy is coherent and well understood by a majority of its shareholders. Read More
“Without companies like us” with the skills, scope and scale to transform the global energy system, the switch to low-carbon fuels “will be a whole lot more difficult,” Van Beurden said. Read More
Exxon’s Darren Woods fends off Carolyn Maloney
U.S. Representative Carolyn Maloney, the New York Democrat presented Exxon’s Chief Executive Darren Woods with a series of documents and statements from Exxon’s own scientists that fossil fuels were the main man-made cause of climate change as far back as 1978 and contrasted them with the company’s public statements.
She particularly emphasized former Exxon CEO Lee Raymond’s skeptical comments about the state of climate science in the 1990s.
“No I do not agree that there was an inconsistency,” Woods said. Exxon’s scientific understanding was “entirely consistent” with the wider scientific community and has evolved over time, he said. “I don’t think it’s fair to judge something 25 years ago with what we’ve learned since then.” Read More
Exxon’s comments about Mozambique investment
Exxon Senior Vice President Neil Chapman said the group had not changed its plans over multi-billion-dollar gas investments in Mozambique and Vietnam.
“We don’t know the date (for the Mozambique final investment decision) right now but there’s no change and what was reported in the U.S. media was not correct,” he added. Read More
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