Each sector of the oil and gas industry — upstream, midstream, and downstream — faces its own unique set of challenges in dealing with the ongoing transition to a lower-carbon global economy and in addressing the increasing ESG-related demands of investors and lenders. Refiners are no exception. Their highly complex facilities may be capable of converting crude oil into gasoline, diesel, and jet fuel, but the fact remains these refined products generate greenhouse gases when they are produced and consumed. What can refiners do to prepare for an era of low- or no-carbon fuels and improve their enviro-cred at the same time? Many have been investing heavily in renewable fuels production, such as renewable diesel and ethanol, and in sourcing at least some of their electricity needs from wind and solar. Today, we continue our series on the environmental-social-governance movement in the oil and gas industry with a look at what refiners are doing on the ESG front.
This is the fourth episode of our exploration of energy-industry ESG, a topic we’ve been investigating for some time — partly in response to the many inquiries we’ve been receiving from clients and subscribers. In Part 1, we said that while the industry has been rebounding from a mostly dismal 2020, many investors and lenders have become hesitant — even averse — to putting their money in oil and gas. It’s not just the energy industry’s historic volatility that’s been giving them pause, it’s the unique social, political and financial pressures that hydrocarbon producers, oilfield service companies, midstreamers, and refiners face in demonstrating that they are addressing ESG issues.
RBN Energy’s US CO₂ Infrastructure map brings together legacy Enhanced Oil Recovery (EOR) assets, as well as announced large-scale Carbon Capture and Sequestration (CCS) and Carbon Capture, Utilization and Sequestration (CCUS) projects, all in our signature concise, accurate, and intelligible style.
In Part 2, we discussed the fact that environment issues take center stage when investors and lenders consider the ESG-related performance of energy companies. By far, the leading environmental issue facing the industry today is greenhouse gas (GHG) emissions, which are generated at pretty much every step in the production, processing, delivery, refining, and (especially) consumption of fossil fuels. We noted that, to help in the measuring and tallying, many of the powers that be in the ESG world divide a company’s GHG emissions into three buckets:
Join Backstage Pass to Read Full Article
About the song
"Paradise" was written by John Prine and appears as the fifth song on his debut album, John Prine. A second version appeared as the 12th song on his ninth studio album, German Afternoons. The song was written for Prine's father about the town where he used to live in Kentucky called Paradise. In the song, Prine requests to have his ashes dispersed in the Green River, which runs through the town. After Prine's death in 2020, his wish was fulfilled. The song was recorded in 1971 at A&R Studios in New York City. Personnel on the record were: John Prine (lead vocal, guitar), Dave Prine (fiddle), Steve Goodman (guitar, backing vocals), and Neil Rosengarden (bass). Many artists have covered the song, including Johnny Cash, The Seldom Scene, and John Denver.
Most of John Prine was recorded at American Sound Studio in Memphis, with only “Paradise” recorded at A&R Studios in New York City. Arif Mardin was the producer. Released in late 1971, the album went to #55 on the Billboard Top 200 Albums chart. Personnel at the parts of the LP recorded at American Sound Studio sessions were: John Prine (lead vocals, guitar), Reggie Young (lead guitar), John Christopher (rhythm guitar), Leo LeBlanc (pedal steel guitar), Bobby Emmons (organ), Bobby Wood (piano), Mike Leach (bass), Gene Chrisman (drums), and Heywood Bishop (percussion).
John Prine was an American country folk singer-songwriter. His songs were known for their humorous takes on life and love, and often included political and social commentary. He released 13 studio albums, five live albums, two compilation albums, and 16 singles, and has won three Grammy Awards and a Grammy Lifetime Achievement Award. A member of the Songwriters Hall of Fame, John Prine died in Nashville in April 2020 from COVID-19. He was 73.
Comments
My understanding is that renewable diesel is all, or almost all, made from animal derived fats or possibly other waste. There is a quite limited supply of this compared to the size of the diesel market. I have asked people in renewable diesel "why don't you consider making it from a feedstock avilable in much higher volumes such as soy bean oil?" I have never gotten a clear answer.