This week, Joe and Raichle discuss the details of oil companies' recent pledges to attain "net-zero emissions" by the year 2050. From Repsol's promise to account for Scope 3 emissions (i.e. the CO2 that your car emits) to Oxy's announcement of the world's first carbon neutral shipment of oil, we analyze what's hopeful policy, and what's good old fashioned PR spin.

The articles we looked at this week are:

Oxy announces world’s first shipment of carbon neutral oil:

• https://www.oxylowcarbon.com/news/worlds-first-shipment-of-carbon-neutral-oil

• https://www.rigzone.com/news/oxy_delivers_first_carbon_neutral_oil_shipment-01-feb-2021-164487-article/

Background on Scope 3 emissions:

• https://plana.earth/academy/what-are-scope-1-2-3-emissions/

•https://www.epa.gov/climateleadership/scope-3-inventory-guidance#:~:text=Scope%203%20emissions%20are%20the,impacts%20in%20its%20value%20chain.&text=Scope%203%20emissions%2C%20also%20referred,an%20organization's%20total%20GHG%20emissions.

An environmental perspective of net-zero oil:

• https://insideclimatenews.org/news/16072020/oil-gas-climate-pledges-bp-shell-exxon/

TC Energy’s announcement of KXL being powered by renewables (RIP): 

•https://www.tcenergy.com/announcements/2021-01-17-keystone-xl-commits-to-become-first-pipelineto-be-fully-powered-by-renewable-energy/

Repsol’s commitment to account for Scope 3 emissions:

• https://www.scientificamerican.com/article/can-a-big-oil-company-go-carbon-free/

•https://www.repsol.com/en/press-room/press-releases/2019/repsol-will-be-a-net-zero-emissions-company-by-2050.cshtml

Background on Carbon Capture and Storage:

•https://www.theguardian.com/environment/2021/jan/16/carbon-capture-vital-meeting-climate-goals-scientists-cut-emissions

•https://www.energy.gov/fe/science-innovation/carbon-capture-and-storage-research/carbon-capture-rd

Music this week by Alexei Desmarais.