While longer-term use of oil and gas products is in Enterprise Products' best interest, it is nice to see someone else pushing the point that we have been making for more than a year – that there is not enough material out there, in the right locations, to meet the suggested clean energy goals. It is important that this becomes better understood and accepted by a broader group than just Enterprise and C-MACC, as we will not get the needed tack in strategy, priorities, and incentives if there is a broad reliance on renewable targets that will not be met – we focus on the IPCC report in tomorrow’s ESG and Climate report.
Source: Enterprise Products February 2022 – Investor Presentation, April 2022
There needs to be some common sense thinking around the unsustainable strain that is being placed on all elements of the renewable power supply chain, which is already driving meaningful cost inflation, but, more important, from a climate perspective, will inevitably lead to missed targets. Extended and better (cleaner) use of hydrocarbons is the only bridge that could prevent runaway inflation and popular dissent. Note Dow’s focus on a zero-emission LNG import facility in Europe – it can be done.
