Don’t buy oil from oil companies ‘worse’ at decarbonization, urges commentator
Richard Drew / AP
Journalist Rod Oram says New Zealanders should bycott oil companies that are not seriously making decarbonization efforts.
A pecking order is suggested in Kiwi motorists’ choice of where to refuel, based on measures taken by oil companies to decarbonize.
Renowned business journalist Rod Oram suggested that New Zealanders who needed to buy gasoline or diesel, did so from Z Energy and then BP then Mobil – in that order – depending on the effort. companies to stop investing in fossil fuel exploration and invest in other forms of energy.
Lifetime Anglican Oram was scheduled to give a talk on a “faith-based response to the climate crisis” in a panel discussion at Nelson Cathedral on Wednesday evening.
Faith-based organizations have been at the forefront of the fossil fuel divestment movement for the past decade, Oram said. Thing ahead of the conference, hosted by a citizen-led group, the Nelson Tasman Climate Forum.
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Since the Anglican General Synod unanimously passed a motion in 2014 to phase out fossil fuels, the volume of investment ceded has increased 70-fold by investors around the world, he said.
Oil and gas companies had made varying degrees of commitment to reducing their own emissions and the emissions of the products they made (the coal companies were “kind of a lost cause”), he said.
“While there are one or two of these big oil companies that are in a reasonably credible location, most are not. “
It was “complete nonsense” for oil companies to invest more in exploration, he said.
“Basically in the world we have about 50 years of oil and gas reserves, there is no way we will still be burning oil and gas in 50 years.
“So the whole point of the divestment motion was to try to get fossil fuel companies to be more rational in their operations… in other words, stop investing in exploring more things,” because you already have more than you. can never use and invest the money in other forms of energy. Or just pay it back to the shareholders and let them go and do something with it. “
Consumers could make rational choices, he said.
“You would want to buy your diesel or gasoline from an oil company that was most advanced on these issues, as opposed to the least advanced. So here in New Zealand you should go out and support Z Energy, or if you want a choice the next in line would be BP.
Oram referred to the findings of an independent financial think tank, carbon tracker, which places ExxonMobil at the bottom of emissions targets for oil and gas companies.
Andrew McNaught, senior national director of Mobil Oil New Zealand Limited (Mobil), said Mobil supports a statement by the New Zealand Commission on Climate Change. Il Pou a Rangi, that “reducing emissions requires a global effort”.
Its parent company ExxonMobil had invested US $ 250 million in advanced biofuel research over the past decade, and US $ 10 billion in research, development and deployment of low-emission energy solutions since 2000, a he declared.
He planned to invest $ 3 billion in low-emission energy solutions until 2025, he said.
“Mobil is uniquely positioned to provide a global perspective on the twin challenges of providing the affordable and reliable energy the world needs while reducing environmental impacts.
The pillars of ExxonMobil’s climate strategy were aligned with the goals of the 2015 Paris Agreement and efforts to achieve net zero emissions, and the company is committed to “transforming promising innovations into scalable and focused solutions. in the market, ”McNaught said.
The company was actively monitoring technologies, including solar, wind, nuclear and natural wells, with academic collaborations comprising more than 80 universities and five energy centers, he said.
* Rod Oram will be speaking at the discussion at Nelson Cathedral on Wednesday June 30 from 5:30 p.m. to 7 p.m.