The infuriating thing is the oil industry was (and still is) well positioned to do something about it. To build offshore wind farms you need people experienced with building structures offshore. Which the oil industry has. To transport hydrogen over land you need people who can build pipelines. Which the oil industry has. To transport Hydrogen overseas you need some chemical engineers to figure out how to get it into a forma they can easily transport (Ammonia maybe?). Which the oil industry has. Geothermal? Well you need people that are experienced in drilling into the ground… which yeah…
But you’d need to have a lot of money to invest into these projects… oh wait they have that too, don’t they?
The only problem was these projects would take time to start turning a profit and they only care about quarterly profits for just long enough to get their golden parachutes.
So basically the oil industry has what’s needed to solve the problem… they just don’t wanna.
This is the primary reason governments worldwide need to introduce a carbon tax. There are legitimate uses for petrochemicals and plastics, but to save the planet carbon capture and diverse energy production are needed yesterday
The fossil fuel companies tried it and found out renewables don’t have the same return on investment that they’re accustomed to, so they stopped with renewable projects.
The infuriating thing is the oil industry was (and still is) well positioned to do something about it. To build offshore wind farms you need people experienced with building structures offshore. Which the oil industry has. To transport hydrogen over land you need people who can build pipelines. Which the oil industry has. To transport Hydrogen overseas you need some chemical engineers to figure out how to get it into a forma they can easily transport (Ammonia maybe?). Which the oil industry has. Geothermal? Well you need people that are experienced in drilling into the ground… which yeah…
But you’d need to have a lot of money to invest into these projects… oh wait they have that too, don’t they?
The only problem was these projects would take time to start turning a profit and they only care about quarterly profits for just long enough to get their golden parachutes.
So basically the oil industry has what’s needed to solve the problem… they just don’t wanna.
This is the primary reason governments worldwide need to introduce a carbon tax. There are legitimate uses for petrochemicals and plastics, but to save the planet carbon capture and diverse energy production are needed yesterday
The fossil fuel companies tried it and found out renewables don’t have the same return on investment that they’re accustomed to, so they stopped with renewable projects.
So yes, all about money.