Climate change reality and implications for the oil and gas industry
Abstract
Climate change is now occurring with various influences on the Earth’s system, starting from changes in rain patterns, water systems to sea level and many other extreme weather events. The evidences are clear and the governments of many countries have shown solid commitments in the Paris Agreement adopted at the 21st Conference of Parties (COP21) in 2015. Such natural and regulatory changes mean a lot to the oil and gas industry and require immediate actions. This article shows that moving towards natural gas is the right direction that is already happening; but in a longer term, revaluation of assets and investments in renewable energy will even be more beneficial to oil and gas companies in a low-carbon future.
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