Carbon Tax Bad For Oil & Gas Industry

Carbon Tax Bad For Oil & Gas Industry

The drive to curb carbon dioxide emissions appears to be gaining momentum among major players in the U.S. oil and gas industry, but opinions differ on how best to achieve that goal. One of last week’s most popular articles among Rigzone’s downstream readers is a case in point. Read on for details on this and other recent articles that caught their attention.

OXY CEO Rejects USA Carbon Tax

Several prominent voices in the U.S. oil and gas industry have recently embraced the idea of putting a tax or other price on carbon dioxide emissions. Vicki Hollub, the CEO of Occidental Petroleum Corp. (NYSE: OXY), has declared that she is not one of them. Calling a carbon tax “bad for a lot of the industry” and for consumers, particularly the economically disadvantaged, Hollub pointed out that her company does not advocate such an approach, Bloomberg reported. Instead, OXY supports existing tax credits that encourage firms to store CO2 and lower emissions.

Where Can My Oil and Gas Skills Take Me in the Energy Transition?

A significant share of oil and gas companies are exploring opportunities in renewables. This article highlights points to consider for oil and gas professionals seeking to transfer their skill sets to the renewables sector. It also points out that workforce training opportunities represent an important avenue for making the switch. The author – Monique Jozwiakowski, with the Houston-based consulting firm MOJOZ Consulting – notes that one company is taking the pioneering step of developing a post-graduate degree in hydrogen for seasoned technical and legal professionals.

EIA Raises Oil Price Forecasts Again

The U.S. Energy Information Administration (EIA) recently upped its projected average West Texas Intermediate (WTI) and Brent oil prices for 2021. Against its predictions from March, EIA now anticipates nearly 3% higher WTI and Brent spot prices this year. Moreover, it now foresees higher average spot prices for the two oil benchmarks in 2022.