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Oil Companies Going to “Net Zero,” But What Does That Mean?

craigshieldsPosted on Posted in Fossil Fuels
Gary Tulie writes from his home in Buckinghamshire, England (see below): Hi Craig, BP along with fellow European oil companies Shell and Total are now committed to net zero by 2050. Let’s hope that technological advances, learning curve, and political will combine to achieve this target a few years earlier!

My take on the article is that the companies are going net zero in terms of their operations, i.e., drilling, refining and transporting.  Their products (gasoline and diesel) are still going to dump CO2 into the atmosphere, correct?
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2 comments on “Oil Companies Going to “Net Zero,” But What Does That Mean?”
  1. Gary Tulie says:
    August 6, 2020 at 5:12 pm

    I think though I cannot be sure that the intent is to end all unmitigated fossil fuel extraction and use – maybe retaining some with carbon capture and storage. What liquid and gas fuels they continue to offer will either be biofuels, or renewable derived hydrogen.

    Why? Europe will stop selling ICE cars around 2030, and the UK will no longer allow the installation of mains gas boilers as of 2025. I expect the other European nations to follow suit, so there will be very little if any European market for fossil fuels by 2050

    I think this could well be the real deal!