Top Oil Companies all over the world are in discussion of taking it to a new level, a better level for the oil industry. A pledge to investment of $1 Billion has been made and planning of better ideas are in process for better quality and a better globe.
According to an article by Gma News Online, Its reports that huge part of the large share of the $1 billion will be used for speeding up carbon capture, storage and usage in gas fired power plants moving towards reduction leakages in methane. Methane for the most part is one of the most pollution greenhouse gases.
Ten top Oil Companies who produce almost twenty percent of the world's oil and gas have already screened a list of 200 CCUS-related technologies and now in the process of assessing which to develop to commerical scale.
"If we can reduce and build the technologies to monitor and reduce fugitive methane emissions that's like an essential licence for us to be able to advocate natural gas," BP Chief Executive Bob Dudley told journalists.
The group of companies will also invest in the improvement of both transportation and energy related industries.
The oil and gas sectors which are high contributors responsible of five percwent manmade greenhouse gases emissions around the globe and more or less 32% for its product usage is on high alert. There is pressure from investors and general public as well to help fight Global Warming and Climate Change.
Many critics have thought of the idea that gas and oil companies need to double their effort to reduce and counter emissions. This is to help shield themselves from Global warming.
In my opinion, companies who would take risks to fight and do extreme measures, invest in quality high valued technology from the best researchers. And people will do better and will have a considerable high amount of value both in trade and in investment. Talks happen, but can they walk the talk? People will see and time will tell how and where this is going to lead.
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