Oil and Gas are CRITICAL to a Sustainable New Energy World

Climate change is one of the most significant challenges facing the world today.

The scientific consensus is that human activities, primarily burning fossil fuels, has warmed Earth’s surface and ocean basins, causing havoc in the world’s delicate environmental system.

Our energy appetite, which currently utilizes fossil fuels such as coal, oil, and gas, is the primary contributor to global climate change, accounting for over 75% of global greenhouse gas emissions.

Burning fossil fuels releases large amounts of carbon dioxide, a greenhouse gas, into the air, which traps heat in our atmosphere and causes global warming. As a result, the average global temperature has already increased by 1°C, and warming above 1.5°C risks further sea level rise, extreme weather, biodiversity loss, and species extinction, as well as food scarcity, worsening health, and poverty for millions of people worldwide.

The impact of climate change also includes changes in temperature and precipitation patterns, rising sea levels, shrinking mountain glaciers, changes in flower and plant blooming times, and wildfires.

To combat climate change, we need to reduce our carbon footprint and support sustainable new energy initiatives. This means a dramatic change in the world’s top polluting industries such as fossil fuels, agriculture, fashion, transport, and construction. As well, we need to ensure the world’s top pollutant emitters are coming on board with responsible low emissions solutions. Not all countries are equal when it comes to carbon emissions. The top ten carbon-emitting countries include China, the United States, India, Russia, Japan, Iran, Germany, South Korea, Saudi Arabia, and Indonesia.

SHOULD WE STOP USING FOSSIL FUELS?

Knowing the threat of climate change, we have an immediate and fearful reaction from the world’s people to, “stop using fossil fuels right now”. What the general public doesn’t realize is the big energy picture. Eliminating the immediate use of fossil fuels has a corresponding negative impact on the world that is as bad or worse than climate change.

REMEMBERING HOW WE GOT HERE

Fossil fuels are responsible for increased economic prosperity, education, food supply, social services, health care, a revitalized manufacturing sector, the improvement of millions of lives through direct and indirect employment and lower energy costs, new sources of government revenues, and strengthened energy security for all nations.

Fossil fuels have been responsible for a higher standard of living for all. So unless we give up our cars, live in the woods, live off the land, and give up all of the amenities we enjoy today like cell phones, computers, abundant food sources, etc., then we must accept that the progress of mankind is deeply dependent on fossil fuels for at least 20-30 years.

THE IMPACT OF NOT USING FOSSIL FUELS RIGHT NOW

Not using oil and gas would have an immediate and significant global impact on poverty, food supply, global products, machinery, plastics, and other aspects of the economy.

There has to be a responsible transition from fossil fuels to renewables to mitigate further risks, which takes time.

It took 100 years for oil and gas to be integrated into society, it will take at least 25 years to remove it responsibly, to ensure there are no dire global consequences, incurred by moving too fast.

WHY DO WE USE FOSSIL FUELS?

We need fossil fuels to literally fuel our existence. According to the UN, the largest carbon-emitting systems and processes that utilize fossil fuels include:
generating power
manufacturing goods
cutting down forests
utilizing transportation
making things like cement, iron, steel, electronics, plastics, clothes, and other goods
mining and other industrial processes
operating machinery
manufacturing
utilizing plastic
transportation such as cars, trucks, ships, and planes
producing food
powering buildings
building and energizing cities and communities
clearing land for agriculture
deforestation
powering buildings
utilizing electricity and power

What would the world look like if we cut out oil and gas and then cut out these carbon-emitting processes? My guess is, the world would come to a halt, much like that of Covid 19.

Is that really where we want to go?

HOW DO WE COMBAT CLIMATE CHANGE AND STILL USE FOSSIL FUELS?

That’s a question the world’s greatest minds work on every day.

In essence, oil and gas are essential to a sustainable future. Oil and gas companies, operators, major contractors, and suppliers consider this question daily. That’s precisely why they are so effective and answering it. If you want to know how to responsibly transition from fossil fuels to renewable, watch what the oil companies are competently doing. Study their energy transition plans. Understand their vision and goals and you will find a very strategic, well-thought-out development plan for the new energy-sustainable world.

Oil and gas companies are working to transition into the renewable energy space by taking direct an decisive action to succeed in the energy transition in the following ways:

Energy Security
Oil and gas companies provide a reliable source of energy that is essential for world energy demand, economic growth, and development. Oil work to ensure we have the energy to power transportation, heat homes/buildings, and generate electricity.

Without oil and gas, many countries would be unable to meet their energy needs, leading to economic instability, social unrest, hunger, poverty, illness, homelessness, and more.

Transition Fuel
Oil and gas can serve as a transition fuel as we move towards a more sustainable future.

Oil and gas are the fuels used to generate electricity while renewable energy sources are developed and responsibly integrated into the new energy mix.

Innovation
The oil and gas industry has a successful history of implementing innovation and technological solutions to sustain our progress.

Oil and gas companies’ expertise can be leveraged to develop new technologies and solutions that can help to reduce greenhouse gas emissions and promote sustainability.

Carbon Capture & Storage
Carbon capture and storage (CCS) is used by oil and gas companies to capture carbon dioxide emissions from power plants and industrial facilities and store them underground, thereby reducing carbon emissions into the atmosphere.

Carbon capture and storage will be critical in the new energy transition equation.

Economic Benefits
The oil and gas industry provides significant economic benefits, including royalties, job creation, tax revenue, and investment in local communities. and more.

Research
Oil and gas companies are world leaders in funding research into new technologies and solutions that can help to reduce greenhouse gas emissions and promote sustainability.

Environmental Stewardship
The oil and gas industry is committed to environmental stewardship and reducing its environmental impact. Many companies have implemented policies and initiatives to reduce greenhouse gas emissions, promote energy efficiency, and protect the environment.

Many oil and gas companies have set stringent targets to reduce their greenhouse gas emissions, invest in renewable energy, and promote sustainable transportation.

Integrating Renewable Energy
Oil and gas companies are integrating renewable energy into their operations to reduce their carbon footprint. For example, they use solar or wind power to generate electricity.

The Use of Biogas & Geothermal
Biogas, which is produced from organic waste, is being used as a fuel source to reduce the carbon footprint of oil and gas operations.

Geothermal energy is used to power oil and gas operations, reducing the need for fossil fuels.

Energy Efficiency:
Oil and gas companies are using energy efficiency measures, such as improving leak detection and repair, installing vapor-recovery units, or using combined heat and power, can help to reduce greenhouse gas emissions.

Decreasing Freshwater Usage:
Oil and gas companies are reducing their carbon footprint by decreasing freshwater usage. For example, they use recycled water for hydraulic fracturing. These recycling efforts reduce their carbon footprint.

Used Oil Recycling
More companies are utilizing small-scale, waste-oil,micro-refinery units that transform used oil into diesel fuel. This approach yields fuel for ongoing operations and is a relatively inexpensive alternative to more traditional oil disposal methods.

Streamlining and Improving Processes
IIOT, analytics, automation, reserve replacement and enhancement capabilities, and emerging artificial intelligence programs all assist in finding and eliminating operational inefficiencies.

Improving the efficiency of ongoing operational processes, oil and gas companies produce the same amount but with reduced costs and energy expenditure, leading to a reduction in greenhouse gas emissions.

These and many other emerging emissions-reducing technologies are emerging. Every company is on the hunt for carbon-reducing innovations that will save the day. Here lies the $trillion opportunity for you and your company.

For countries like Canada, which are natural resources rich, the new energy evolution, means prosperity ahead. Canada is well positioned to supply its own nation with energy and supply those less fortunate in terms of land, water, and natural resources, with their much-needed energy.

THE NEW ENERGY MIX

What we know for sure is that oil and gas will fuel the incoming renewable energy economy.

Pitting one fuel source against another only divides us and deflects from the critical development of the new energy mix.

This new energy mix is imperative to meet world energy demand, mitigate energy security threats and ensure our world is fed, cared for, and prosperous.

Success looks like this:
A dramatic reduction in carbon emissions
A powerful new energy mix
Countries working together for a global renewable energy economy

ONE WORLD, ONE PEOPLE

As we venture forward into the new energy world, we must remember:
Emissions know no boundaries. We are one world.
Energy use and energy security are basic human rights.
Climate change calls for global unity, and responsibly working together.
Energy transition means responsible utilization of oil and gas to bring in renewable energy.
The new world order is a new-energy mix that means opportunity and prosperity for everyone.

Sources & Images:
natural-resources.canada.ca
Norwegian Petroleum Directorate – NDP
CNBC
Climate Trade
Earth.org
UN.org
Climate Trade
Ace Space
World Population Review