Good morning! We bring you the latest updates from the Energy Source newsletter, straight from New York.
In an interesting turn of events, Shell has accused Venture Global, a US supplier of liquefied natural gas, of making a “wrongful gain” of $3.5 billion by selling shipments on the spot market instead of fulfilling contracts with European customers. This situation has intensified the ongoing conflict among major players in the LNG sector. Despite Shell’s accusations, Venture Global has responded by declaring force majeure, claiming they couldn’t meet their delivery obligations.
Today’s newsletter is arriving an hour later than usual to include insights from a new study that examines the oil and gas industry’s influence on universities. Growing concerns from students and faculty suggest that collaborations with fossil fuel companies may hinder academic integrity and progress on climate change.
Study Highlights Concerns Over University Links to Fossil Fuels
Western universities are increasingly urged to distance themselves from oil and gas companies due to worries that such relationships may compromise research integrity and efforts to combat climate change.
A recent study assembled a review of nearly thirty reports regarding the fossil fuel sector’s role in higher education. The findings suggest that ties to these companies can introduce bias in research, promote unproven climate solutions, and limit academic freedom.
According to a previous report by Data for Progress, six major fossil fuel firms, including Exxon and Chevron, donated about $700 million to US universities from 2010 to 2020. Another report from Columbia University found that energy research centers accepting gas industry funding tended to favor fossil fuels over renewable options, unlike institutions less reliant on such funding.
Geoffrey Supran, director of the Climate Accountability Lab, expressed that there is a growing consensus among researchers regarding the seriousness of this issue, highlighting that conflicts of interest extend beyond funding to include hiring practices and academic positions as well.
An open letter calling for universities in the US and UK to stop accepting fossil fuel funding for climate-related research has gathered nearly 1,000 signatures. Notable institutions like Princeton and Cambridge have recently committed to limiting their ties to fossil fuels. Columbia University is also considering how its relationships with these companies impact its research integrity.
The movement to cut links with fossil fuel firms, described as “divestment 2.0,” builds upon earlier student-led campaigns for universities to remove oil and gas stocks from their investment portfolios.
The authors of the study also draw parallels between the fossil fuel industry’s influence on research and similar tactics used by the tobacco and pharmaceutical industries, advocating for full disclosure of corporate research funding.
While some argue that severing ties with fossil fuels could hinder research funding and stifle necessary discussions on climate issues, others remain concerned about maintaining academic freedom amidst corporate interests.
Job Moves in the Industry
In other news, several key appointments have been announced:
- Baker Hughes has appointed Amerino Gatti as executive vice-president of oilfield services. Maria Claudia Borras will take on the role of chief growth and experience officer, while Muzzamil Khider Ahmed becomes the new chief people and culture officer.
- Volodymyr Kudrytskyi has been ousted from his position as head of Ukrenergo, Ukraine’s state electricity company.
- Víctor Rodríguez has been chosen by Mexico’s new president to lead Pemex, the state-owned oil company.
- Swedish EV manufacturer Polestar has welcomed Michael Lohscheller as CEO and Jean-Francois Mady as CFO, succeeding previous leaders Thomas Ingenlath and Per Ansgar.
- The Kamala Harris presidential campaign has appointed Camila Thorndike from Rewiring America as its climate engagement director.
- X-energy has brought Robert Taylor on board as vice-president of regulatory affairs after years of service at the US Nuclear Regulatory Commission.
This wraps up the latest updates from the energy sector. Thank you for tuning in, and stay informed!