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Oil and Gas Heavyweights Back a Roadmap for Steep Declines in Fossil Fuel Use

We've entered a topsy-turvy moment in energy where coal supporters want solar power and oil execs have endorsed cutting fossil fuel use.The latter appeared in a new decarbonization roadmap from the Energy Transitions Commission, an all-star working group charting the energy future that includes the chairman of Royal Dutch Shell, the head of sustainability at massive mining company BHP Billiton, the CEO of General Electric Oil and Gas, as well as leaders from prominent global banks, development organizations and climate-oriented NGOs.The terminology in "Better Energy, Greater Prosperity" will be familiar to anyone following the Paris climate agreement and subsequent mobilization, but the cast of characters here differs in a crucial way. Each commission member might not agree with every detail, the report notes, but they collectively "endorse the general thrust of the arguments." That means some of the world's most powerful fossil fuel providers and financial lenders have publicly affirmed the need to sharply cut oil, gas and coal usage and switch to clean sources. And they believe this can be done without macroeconomic disruption, but rather with a net welfare gain for society.

 
 

 

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