Oil companies respond to market trends. Using data from 2020 U.S. Energy & Employment Report we found from 2018 to 2019, clean energy jobs crew by twice the rate of overall job growth in the US. During that same time, fossil fuel jobs fell by 2.6%. usenergyjobs.org 8/
This is not going to happen by corporate action alone. Oil industry still has a LONG way to go. As late as 2018 only 0-5% of capital expenditures in major oil companies went to clean energy. cdp.net/en/investor/se… 9/
Most of these targets will release more detailed strategies and interim targets. As of yet, none have pledged dollar amounts to their plans. 10/
Companies have not all been transparent about how much they invest in carbon capture and storage, but as last as 2016 overall yearly investment in carbon capture was still little over a billion.Corporate commitments are not a substitute for govt action. 11/
Creating more and different energy job and economic opportunities for Americans is just plain smart. It’s why Texas oil man named George W. Bush decried America’s addiction to oil. nytimes.com/2006/02/01/wor… 12/
What’s the @joebiden plan? Create demand for clean energy and clear signal to companies the time to act is now. 13/
@JoeBiden This will also drive jobs in the sector by investing in clean energy for the ENTIRE country. Build back our infrastructure not just talk about “infrastructure week” and make it a punch line. 14/
@JoeBiden Get the US to net-zero by 2050 so we have cleaner air, cleaner water, address climate change AND have a thriving economy. Without banning fracking or any of the stale talking points the GOP have been trying to demagogue for a decade now. 15/
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