Forbes
Summary
The oil and gas sectors had prospered when most of the world paid record-high energy prices — profits that can get redirected to reduce their carbon footprints. That’s the view of the International Energy Agency, which says drilling, processing, and delivering energy accounts for 15% of global energy-related emissions.
The good news is that knowledge and technologies exist to cut the emissions associated with oil and gas development. In other words, it takes energy to produce energy. Batteries and green hydrogen can power oil rigs. The value chain stretches from the upstream producers to the downstream consumers at the industrial level. Decarbonization can occur at multiple points along the way. For example, green hydrogen can run diesel engines.
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