#naturalgas

kuchinster@hub.hubzilla.de

BlackRock’s Fink Calls For Energy Pragmatism, Omits ESG From Annual Letter

“I’m hearing more leaders talk about decarbonization and energy security together under the joint banner of what you might call ‘energy pragmatism.’ Last year ... I spent a lot of time talking to the people who are responsible for powering homes and businesses, everybody from prime ministers to energy grid operators. The message I heard was completely opposite to what you often hear from activists on the far left and right, who say that countries have to choose between renewables and oil and gas. These leaders believe that the world still needs both. They were far more pragmatic about energy than dogmatic. Even the most climate conscious among them saw that their long-term path to decarbonization will include hydrocarbons, albeit it less of them, for some time to come.”

“Or look at Texas. They face a similar energy challenge – not because of Russia but because of the economy. The state is one of the fastest growing in the U.S., and the additional demand for power is stretching ERCOT, Texas’ energy grid, to the limit.

Today, Texas runs on 28% renewable energy – 6% more than the U.S. as a whole. But without an additional 10 gigawatts of dispatchable power, which might need to come partially from natural gas, the state could continue to suffer devastating brownouts. In February, BlackRock helped convene a summit of investors and policymakers in Houston to help find a solution.”

“The energy market isn’t divided the way some people think, with a hard split between oil & gas producers on one side and new clean power and climate tech firms on the other. Many companies, like Occidental, do both, which is a major reason BlackRock has never supported divesting from traditional energy firms. They’re pioneers of decarbonization, too... We invest in these energy companies for one simple reason: It’s our clients’ money. If they want to invest in hydrocarbons, we give them every opportunity to do it – the same way we invest roughly $138 billion in energy transition strategies for our clients. That’s part of being an asset manager. We follow our clients’ mandates.”

https://www.forbes.com/sites/jonmcgowan/2024/03/27/blackrocks-fink-calls-for-energy-pragmatism-omits-esg-from-annual-letter/

#oil #gas #naturalgas #energy #energycrisis #money #investments #BlackRock #decarbonization #renewableenergy #ESG #Western #deepstate #fail #blameRussia

smokeinfog@diasp.org

Joe Biden just did the rarest thing in US politics: he stood up to the oil industry

The Biden administration suspended new permits for natural gas terminals. Can we see more of this kind of backbone?

Ten days ago Joe Biden did something remarkable, and almost without precedent – he actually said no to big oil.

His administration halted the granting of new permits for building liquefied natural gas (LNG) export terminals, something Washington had been handing out like M&Ms on Halloween for nearly a decade. It’s a provisional “no” – Department of Energy experts will spend the coming months figuring out a new formula for granting the licenses that takes the latest science and economics into account – but you can tell what a big deal it is because of the howls of rage coming from the petroleum industry and its gaggle of politicians.

And you can tell something else too: just how threadbare their arguments have become over time. Biden has called their bluff, and it’s beautiful to watch.

. . .

#oil #naturalGas #LNG #POTUS #JoeBiden #Biden #politics #USpolitics #environment #ecology #climateCrisis #climateChange #TheGuardian

shuttersparks@diaspora.glasswings.com

To Support Coal, Buy an EV

This article may sound controversial but it isn't. Here is a breakdown of the facts and figures. The article is primarily directed at people in coal-producing states like West Virginia but if your electricity comes from a gas-fired power plant those figures are also provided.

https://shuttersparks.net/support-coal-buy-an-ev/

#ev #evs #co2 #CarbonFootprint #PowerPlant #efficiency #coal #gas #NaturalGas #ClimateChange

spon@friendica.produnis.de