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Court Pressures Shell And The Oil Industry To Adjust To Climate Change
It’s a bewildering time for oil and gas companies.
Many are still basking in the success of the shale revolution, which made the U.S. self-sufficient in oil and gas for the first time since 1947.
- Ian Palmer
- Forbes
Since President Biden has come to power, climate change has been labelled an existential crisis and elevated in government to cabinet-level status.
The implication is that oil and gas production, which contributes over 50% of greenhouse gases (GHG), has to cut back and make room for rapidly increasing renewable energies.
Many U.S. oil and gas companies have adopted a “wait-and-see” attitude.
Yes, physical evidence for climate change is clear – such as retreating glaciers, Arctic ice melting, and…