The world’s largest oil companies are under growing pressure from shareholders and society to reduce emissions and show efforts to fight the worst effects of climate change. Everyone in the Big Oil club has announced various plans to cut emissions and invest in low-carbon energy over the past 18 months. Yet, there are stark differences in the ways the largest international oil companies are approaching the emissions problem. Europe’s top oil and gas firms have all committed to becoming net-zero energy businesses by 2050 or sooner. Most of them say their oil production has either peaked already or is about to peak by the middle of this decade. And all of them bet on investments in renewable electricity generation—along with hydrogen, carbon capture and storage, biofuels, and electric vehicle charging networks—to deserve being called ‘energy companies’ instead of oil companies. Unlike their European peers, the two supermajors in the […]