Climate Agenda of the Leading US Oil Companies

The authors investigate characteristics of the fourth energy transition from fossil fuel to renewables that is currently underway on global scale and its impact oil gas sector. They study evolution climate agenda companies main drivers. article explores specifics American model majors’ decarbonization analyzes key differences between European models. assess reasons for high responsibility companies. drivers policy US majors, e.g. greening financial institutions investors, consumers’ preferences, etc. A special focus made government strategy. Recently, majors have been demonstrating greater awareness began announce their net zero commitments. specific measures taken by (ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum), such as R&D in sphere biofuels, carbon capture, utilization storage, control methane leakages, production hydrogen, emphasizes companies, contrast counterparts, are reluctant diversify asset portfolio expanding share renewables. Their reluctance might stem fact possess considerable proved reserves hydrocarbons significant investments upstream not eager Currently, continue bet long-term future gas, remain loyal core business pursue mainly enhancing efficiency through use competitive advantages, primarily technological supremacy. believe under Joe Biden’s administration leading will be strengthened further.