Strategy Note /
Global

ESG Oil wins just shift value to National Oil unless carbon consumption is taxed

  • Bigger emissions cut drives ExxonMobil's Board nominations, Chevron's shareholder vote, Shell's court ruling

  • Follows recent IEA recommendation that 2050 net zero emissions means no new oil & gas capex from now

  • All of this benefits mature national oil companies (eg in Saudi, Russia et al) unless taxes raised on carbon consumption

ESG Oil wins just shift value to National Oil unless carbon consumption is taxed
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
31 May 2021
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