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Chevron CEO explains why the oil giant’s lower-carbon investments look past wind and solar energy

Chevron CEO explains why the oil giant’s lower-carbon investments look past wind and solar energy

Kevin Stankiewicz of CNBC writes on how Chevron is looking past wind and solar for low-carbon investments.

The C3 Take
  • Chevron has made substantial commitments to reducing their carbon footprint, and plans to do so through investments in green hydrogen and renewable natural gas.
  • While green hydrogen has a lot of potential it is still expensive to produce. Through projects in California and Utah, Chevron is looking to make the breakthroughs that are needed to reduce the cost of green hydrogen.
  • Chevron is showing that markets, not mandates, are key to advancing clean energy solutions.

“Chevron said the investments will help the company meet goals for its new energy businesses, including expanding production capacity for renewable natural gas and renewable fuels. It also plans to ramp up hydrogen production for use by industrial, power and heavy duty transport customers, as well as increase efforts on carbon capture and offsets.”

Read the full article here.

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