We all know that oil and gas companies play a major role in the climate crisis. The number one gas emitted is carbon dioxide while methane is a close second. An updated study reveals that methane emissions from fossil fuels are 25%-40% higher than previous estimates. The oil and natural gas industry is contributing more to the crisis than we thought. Methane has a greenhouse effect that is about 80 times more potent than carbon dioxide over a 20-year period. Plus, it is responsible for at least 25% of raised temperatures globally. According to ClientEarth, Aramco accounts for more than 4% of the world’s greenhouse gas emissions since 1965.
Big oil companies like Exxon, Aramco and BP have been brainwashing people on their green energy initiatives. The truth is that they are continuing to extract oil and gas in large quantities. Aramco continues to open new oil and gas fields. Chevron has put only 0.2% of their long-term investments into low-carbon energy sources. For Shell, that number is 1%.
Example: Exxon’s Fuel Campaign
Exxon Mobil came up with an optimistic campaign about algae biofuel as their next source of green and clean fuel. They claimed to put their efforts into replacing oil and fossil fuels with a lower carbon alternative. Their apparent goal was to produce 10,000 barrels of algae-based biofuel a day by 2025. Many people were on board with this campaign. What we didn’t know was that 10,000 barrels a day, while it sounds like a big amount, is a small number compared to how much oil Exxon extracts. Also, according to the Climate Reality Project, Exxon is spending only about 0.5% of their revenue on developing renewable energy. Meanwhile, they are set to increase production of fossil fuels by 35% by 2030.
Example: BP’s Greenwashing Campaign
BP has been accused of greenwashing by ClientEarth. The oil company created an advertising campaign promoting their green efforts. It created the impression that they were moving toward renewable and clean energy. In truth, they spend 96% of their capital investment on oil and gas. Their campaign’s scale was larger than their rivals and their use of strategic visuals on their website convinced the public.
Shell & Exxon’s Internal Reports
Shell and Exxon knew the side effects of drilling for oil and gas since the 1980s. They carried out internal assessments of carbon dioxide released by fossil fuels. Shell’s 1988 internal report projected that CO2 emissions would be 2x higher than preindustrial levels by 2030. This is much earlier than they had originally anticipated. This would push the planet’s average temperatures up by about 2°C and raise sea levels by 5 to 6 meters, enough to drown all low-lying areas.
Exxon’s private prediction of the future growth of carbon dioxide levels (left axis) and global temperature relative to 1982 (right axis).
Shell foresaw the growing problems from fossil fuel extraction. Yet, they kept the report “hidden” until it was leaked. Although the company has mentioned using lower-carbon energy, they still plan to grow their fossil fuel business by 20%. In the end, Shell doesn’t plan to reduce their oil and gas activities.
Conclusion
As consumers, we must be aware of greenwashing propaganda from oil giants. Instead of believing they will truly turn to greener energy, we can support sustainable businesses and brands.
At Green Schools Green Future, we are building a green school which will run on renewable energy such as solar power. We want to build a generation that understands, respects and works in harmony with nature.
Sources:
https://www.mass.gov/news/ag-healey-sues-exxon-for-deceiving-massachusetts-consumers-and-investors
https://influencemap.org/report/How-Big-Oil-Continues-to-Oppose-the-Paris-Agreement-38212275958aa21196dae3b76220bddc
https://www.theguardian.com/environment/2020/feb/19/oil-gas-industry-far-worse-climate-impact-than-thought-fossil-fuels-methane
https://journals.sagepub.com/doi/10.1177/1086026616687014
https://www.theguardian.com/environment/climate-consensus-97-per-cent/2018/sep/19/shell-and-exxons-secret-1980s-climate-change-warnings
Here’s why Shell should quit CAPP, the Canadian oil lobby
https://act.environmentaldefence.ca/page/79421/action/1?ea.tracking.id=action
