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Fossil fuel methane climate emergency: Solutions

Methane emissions underestimated

Methane emissions are underrated at one third of global warming gases, largely because fossil fuel sector methane emissions are underestimated by 70 percent.  Current data indicates the energy sector accounts for 40 percent of man-made methane.  Consequently, the COP26 non-binding pledges of over 100 nations for a 30 percent reduction by 2030 are not only dreadfully inadequate, but also, without standardized measuring, reporting and verification standards, oil and gas industry methane greenwashing is rampant.  The draft European Union (EU) plan to reduce methane emissions up to 80 percent by 2030 zeros in on methane accountability norms and establishes transparent extraterritorial requirements to cover imports.  The U.S. too, with the backing of the Inflation Reduction Act and the Bipartisan Infrastructure Law, now has the foundation for vigorous proposal to update its regulations and investments in methane reduction.  Sadly, Canada’s methane ambitions procrastinate and are fuzzy.  Lastly, stringent government actions would be less critical if the oil and gas industry applied existing technologies to capture fossil fuel methane and sell it for a net profit.

Canada’s 2030 climate plan: Designed to fail

Oil sands development

Canada’s 2030 Emissions Reduction Plan (ERP) was made public March 29, 2022.  Since the country’s oil and gas sector with methane included, plus transportation components, together, represent about half of Canadian emissions, one would have thought these sectors would be objects of strong climate initiatives.  Yet, for these sectors, the ERP appears to be the product of accommodation of industry lobbies.  The action items stupendously lack integrity and are weak.  As such, the ERP like all previous government emission reduction targets, will not achieve its goals.

Shipping sustainability: Oxymoron but paradigm to change

Container ship powered by dirty oil

Cargo and cruise ships represent 2.6 percent of global emissions and could reach 17 percent by 2050.  Nearly all these ships use cheap dirty heavy oil with high sulphur content.   International regulations aren’t helpful as they are lax and difficult to enforce.  Fortunately, Maersk, the largest container shipping company in the world, has created the conditions for an industry-wide sectoral revolution by setting 2040 as a target to achieve net-zero emissions, requiring all new vessel acquisitions be carbon-neutral and has already ordered 12 green methanol powered ships.  Concurrently, many new technological solutions are under development including ones associated with electric, wind and biofuel energy sources.  Stringent territorial waters and docking standards, Maersk technological catalysts, financing of emerging remedies, could advance clean technologies quickly.  Finally, open-loop scrubbers are widely used as a band-aid to remove sulphur from the exhausts to transfer the pollutants into the sea.

China: Largest emitter to green gamechanger, but…

China climate emergency global influence

China is several years ahead of other developed countries on the migration to a green economy, in clean technology production capacity, massive market penetration and green investments. China already has an extraordinary global green export potential. China leads in renewables, electric vehicles and battery production, incrementally regulating plastic solutions, high-speed rail, private clean tech investment, government environmental support and green bonds.  China’s concurrent climate actions are gamechangers destined to have huge global competition impacts on energy, economic, transportation, industrial and other paradigms, perhaps more so than the climate crisis.  But there are simultaneous contradictions. China is the world’s largest liquified natural gas importer, once again ramping up coal production and certainly not a leader on human rights.

Putin losing energy war: European climate emergency

Nord Stream 2 gas pipeline padlocked

Putin’s war has created an electroshock for Europe because it depends on fossil fuel imports for 60% of its energy, one-third of which comes from Russia.  Organically evolving European Union (EU) plans target 2027 for a massive and rapid transition to a green economy and energy independence.  Renewables, electric vehicles, clean technologies and energy efficiency will all play major roles in the creation of fast-forward paradigms for global emulation.  For the immediate, by the end of 2022, EU plans entail cutting Russia gas imports by two-thirds, substitution fuel sources plus ramping up renewables and energy efficiency.  These EU plans will be devastating for the Russian economy.  Russia needs European oil and gas revenues more than Europe needs these fuels.

Big Oil, renewables, electric vehicles + clean tech: Fossil fuel windfalls

Wind, solar, storage + electric vehicle

Prior to the Russian barbaric invasion in Ukraine, announcements made by the oil and gas majors seemed to imply they were engaged in energy diversification.  This diversification has been typically presented as that of increasing the proportion of their assets in clean technologies while reducing the exploitation of fossil fuel reserves.

Now, with the oil and gas companies earning windfall profits linked to the Ukraine war, inflation and European urgent short-term requirements for fossil fuel sources substitutes, the real truth is coming out.  High fuel prices have revealed opportunist short term thinking prevails over lofty long-term goals.