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A Burning Question: Are Oil & Gas Companies Really Evolving? - Shared screen with speaker view
tilly pick
22:14
hi everyone. great to have you.
Sarah Simon
28:22
Sarah Simon, Ipswich,
tilly pick
28:26
Tilly, Co-organizer, NC, business
Greg Hall
28:33
Greg Hall - Houston - Oil and Gas
Raychel Raddatz
28:40
Raychel, tuning in from the Twin Cities (MN), school
Janet Conroy
28:47
Janet Conroy, Guest, Boston, Harvard Student studying Sustainability.
Sarah Simon
28:48
Chapter Director E2; locally in Ipswich, Mothers Out front
Amy Perlmutter
28:48
Hi ,I am Amy, from Cambridge, MA. I am a sole proprietor consultant, working on various environmental topics.
Emma Borjigin-Wang
28:55
Emma, curious attendee, calling in from Michigan and working for a climate nonprofit
Manuel Esquivel (he/him)
28:55
Manuel Esquivel - Boston Planning & Development Agency (Government) - Infrastructure & Energy Planner - Jamaica Plain
Matt Spearing (he/him/his)
28:56
Matt Spearing, St. John’s Prep (Danvers, MA) Education.
Ben Silverstein
28:57
Ben, Urban Planning Graduate Student at UCLA
Margie McNally
29:04
Margie McNally Dighton, Massachusetts. Sustainable Design Consultant and educator for Boston Architectural College
Karthik Rajasekaran
29:09
Karthik, Boston, grad student fulltime + oil&gas part time
Bailey Arnold
29:11
Bailey ArnoldSenior Manager, Clean Air InitiativesAmerican Lung AssociationIllinois
Cecilia Young
29:11
Cecilia Young, Associate Fellow at Sustainable Capital Advisors (sustainable infrastructure consulting) and MS candidate at Georgetown. Joining from California
Lisa Weil
29:12
Lisa Weil, Inclime Solutions - Supporting state solar programs
James Benetatos
29:13
James Beneatatos / MBA student Questrom School of Business / Somerville, Mass
David Bliss
29:21
David Bliss, Melrose; architect with a practice in building enclosures.
Carol Baroudi
29:22
Carol Baroudi, Co-Organizer, Wonderful Waltham MA
Anne Brown
29:29
Anne, Rockland Maine - curious / concerned citizen
Natalie Hurd
29:34
Natalie, MPA student, Seattle (former UCS! Hi Kathy and Peter!)
Wanda Ratliff
29:44
Wanda Ratliff, Environmental and Green Chemistry Consultant, Hopkinton, MA
Doug Koplow
29:53
Doug Koplow, Earth Track, Cambridge, MA; work transparency about government subsidies to fossil fuels
Andrew McClaine
30:01
Andy McClaine, Safe Hydrogen, LLC, Developing a safe and inexpensive hydrogen storage medium.
Abby B
30:03
Abby, I work in air compliance in Texas - just interested in greenhouse gas emissions in general
Vibhustuti Thapa
30:04
Tuti, Recent MA in Globalization Studies graduate from Dartmouth College. Somerville/MA
Larry Yu
30:05
Larry from Somerville, Mass. Editor at Bridgespan and climate advocate (MCAN, Somerville Climate Coalition, Climate Reality Project).
Brendon Pires
30:15
Brendon Pires, Alnylam Pharmaceutics, Cambridge MA - spent 5 years working in CSR/ Sustainability another company dabbling again at ALNY
Meera Singh
30:19
Meera Singh, Cambridge - an independent educator on environmental issues and action.
David Schreiber
30:30
David Schreiber, CFP, investment advisor, Greenvest, Arlington, MA. Focused on individual, retail level investors interested in fossil fuel divestment and socially and environmentally responsible investing.
Timothy Havel
31:07
Exxon-Mobile just announced 100's of billions of investment in bringing new oil & gas online, as well as very unambitious carbon emissions goals (apart from their actual product's burning, that is!).
Brad Caswell
31:15
Brad Caswell, originally from Ridgewood, NJ. Currently a student at Boston University
BEDE EMUKA
31:24
Bede Emuka. I just finished masters in Environmental law and policy at the Vermont law School; I am in Houston Texas right now.
Phoebe Su
32:19
Phoebe Su, undergrad student representing a climate justice nonprofit org
Progressive Dems
32:27
Jeanne Krieger, Progressive Democrats of MA (PDM), Lexington
Janet Viader
32:42
Janet K. Viader, MBA in NYC. Originally from beautiful Napa Valley. Client Relations at Sustainalytics, global provider of ESG research, corporate engagement. We also do SPOs for green/social/transition bonds!
Eric Grunebaum
32:56
www.bostonglobe.com/2019/11/18/opinion/holding-exxonmobil-accountable/ Please don’t click now unless you’re having trouble watching the video we’re about to play. You can also refer back to the link later.
Rosanne Essiambre
33:03
Rosanne Essiambre with Sustainable Solutions Coaching & Consulting in Lexington, MA. Am a change agent coach and consultant that works in several industry sectors.
Lara Pes
33:04
Lara Pes. I am a Lab Manager at Weill Cornell Medicine in New York City and a green leader with the WCM sustainability team.
Bryan Sheehan
33:04
Bryan Sheehan, Boston area; sustainability consulting; currently in transition between organizations
Rae Andre
33:51
Rae Andre, Author, Lead for the Planet: Five Practices for Confronting Climate Change. https://utorontopress.com/us/lead-for-the-planet-2https://www.raeandre.com/
ruiling gao
36:29
Question: If they are Public Companies, isnt that part of their responsibility to lease legal informations?
Eric Grunebaum
38:05
For questions, type the word QUESTION: in upper case so they stand out in the chat. Thanks!
Janet Viader
38:31
^if investors demand it
Timothy Havel
38:39
But this is all BEFORE Trump & McConnell succeeded in stacking the courts! Don't you think we need to recall past strategies may not work in the future?
ruiling gao
39:34
QUESTION 2: Is there a connection between this corporation and ALEC?
ruiling gao
39:45
QUESTION 1 If they are Public Companies, isnt that part of their responsibility to lease legal informations?
tilly pick
40:33
thank you. that was powerful.
Holly Fowler, BASG (she/her)
40:49
Amazing video!
ruiling gao
42:37
I want to be a politician toooo
Holly Fowler, BASG (she/her)
42:51
Talk about answering the call.
Holly Fowler, BASG (she/her)
42:54
Inspiring
Holly Fowler, BASG (she/her)
43:00
And devastating
Lisa Weil
43:06
Very Inspiring!
Kyle Orgel
43:35
Kyle Orgel, Student, BS Environmental Science and Headed to Columbia next year for Sustainability Management! I’ll throw my linked in here as well: https://www.linkedin.com/in/kyle-orgel-3a5678167/
Holly Fowler, BASG (she/her)
44:00
As you type in your questions, please spell out acronyms in case they are not known/familiar to all.
Holly Fowler, BASG (she/her)
45:34
This is a great point.
tilly pick
46:17
Here is the EPA's Environmental Justice Screening and Mapping Tool: https://www.epa.gov/ejscreen
Holly Fowler, BASG (she/her)
46:32
Don’t quote me, but I believe 80% of our produce supply comes through the terminal.
Holly Fowler, BASG (she/her)
47:27
Thanks, Tilly. That is a good start for communities starting to understand what their operating environmental condition is.
Henry Marcofski
47:37
I don't buy it
Sarah Simon
47:48
Damali - your political saavy can teach a few things to scientists and engineers!
Haben Berhe
49:04
Question: What was the city doing as Exxon was disregarding the environmental rules before citizens of the community got involved?
Kathy Mulvey, UCS (she/her)
49:18
No question you have expertise, Damali -- you're a hard-nosed, smart, courageous organizer!
Henry Marcofski
49:36
I wish I had 5 minutes to straighten things out
Sarah Simon
49:55
Does Beacon Hill Rep Adrian Madaro cover part of Chelsea? he listens well and he is very environmentally active
Amy Perlmutter
57:36
Thank you, Damali. Chelsea is lucky to have you.
Margie McNally
58:47
Agreed
Janet Viader
01:00:41
QUESTION: How much are they spending on exploration?
Janet Viader
01:00:58
vs. low carbon
Nina Butler
01:01:21
How much are governments spending on exploration, etc.?
Holly Fowler, BASG (she/her)
01:01:35
Good question @Janet Viader
Holly Fowler, BASG (she/her)
01:02:59
And @ Nina
Haben Berhe
01:09:56
QUESTION: How does the 100 or so environmental rule roles backs undertaken by the Trump admin affect your law suit but also other law suits that may be happening against oil companies?
Holly Fowler, BASG (she/her)
01:11:16
It would be interesting to see the last slide and a map of brownfields.
Holly Fowler, BASG (she/her)
01:11:27
And the cost of those to communities.
tilly pick
01:12:31
QUESTION: is there anything positive at all about what gas and oil companies are doing today (versus their history?)
Michael Ben
01:12:45
Question: Have there been any successes in the suits filed against major oil companies on climate change?
Holly Fowler, BASG (she/her)
01:15:12
Sorry! Sides are touchy!
Sarah Simon
01:15:21
boy, we scientists and engineers are really poor communicators - we use the term "uncertainty" easily, but most folks don't know what we're saying. We have to explain modles way better already
Larry Yu
01:15:49
QUESTIONS: European oil majors have announced shifts in strategy that roughly put them in line with the EU's carbon neutrality goals.1) Are they actually operationalizing those strategies at the scale needed to meet those goals?2) How much impact will their strategies have if US majors and sovereigns don't follow suit?
Rosanne Essiambre
01:15:56
@Sarah, clear communication is key!
Janet Viader
01:16:59
*Total = Total France
Janet Viader
01:17:27
They lead on diversification
Curt Newton
01:17:50
Doesn’t take much to lead, huh? :(
tilly pick
01:19:31
@Curt Newton -- yes.
Sarah Simon
01:22:48
How much of today's challenges were recognized in the 2007 IPCC report, and what are the key issues that have not been addressed over the last 13 years? Science was 80% reduction by 2050 back then. Is the main missed opportunity just that we didn't reduce emissions enough, to meet the trajectory recommended?
Holly Fowler, BASG (she/her)
01:24:00
Great job, Peter.
tilly pick
01:24:54
fixing this will require tilting away from today's view of capitalism.
Janet Viader
01:26:23
For those interested, my past professor has published great works on the over leveraged balance sheets / negative cash flow / stranded assets of Oil&Gas companies with a research entity called IEEFAFollow Kathy Hipple here:https://www.linkedin.com/in/kathy-hipple-a5631123/
Eric Grunebaum
01:26:47
… the economics of capitalism need to be continually tweaked so that the costs of company misdeeds and collateral damage (aka externalities) are internalized.
tilly pick
01:32:53
definition of externalities: https://www.investopedia.com/terms/e/externality.asp
Rosanne Essiambre
01:37:17
BP was also responsible for Deepwater Horizon spill so there’s emissions, and then there’s how responsibile they’re being creating the product as well
Holly Fowler, BASG (she/her)
01:38:50
Love concrete actions!
tilly pick
01:38:51
QUESTION: Have the Exxon and Chevron climate risk reports been fact-checked?
Henry Marcofski
01:40:34
There's a simple solution to climate change
David Schreiber
01:40:57
Wouldn't the corporate charters limit their ability to change?
Doug Koplow
01:41:03
Question: As stranded asset and climate risks to O&G investments rise, do you see the cost of capital and the cost of liability insurance to the sector rising?
Matt Spearing (he/him/his)
01:41:20
Thank you to everyone. I’d like to hear the presenter’s thoughts on the work some of these fossil fuel (energy) companies are doing in the renewable fields? Would divesting from them hurt their renewable R&D operations? Pros and cons of that?
Rosanne Essiambre
01:42:03
@David, Mission and vision can always be changed (if that’s what you mean by Corporate charter?)
Nina Butler
01:42:16
Kathy’s comment on big data/tech and role in GHG/energy consumption is an important one
tilly pick
01:42:32
Great question by Matt Spearing
Lisa Weil
01:42:39
No one is a better position to build off-shore wind. They have the technical expertise
Sarah Simon
01:43:24
There's a bill proposed in Mass that allows natural gas companies to become energy companies, perhaps delivering therms of heat (or cooling) from micro-districts of geo-thermal systems. Does this make sense for a new business model (thank you HEET)
Holly Fowler, BASG (she/her)
01:45:07
Speakers should feel free to respond in chat as well to questions!
Emma Borjigin-Wang
01:45:08
Question: Thoughts on a company like Orsted (Denmark), which sold off its fossil fuel industry? Is that a scalable model for transition for larger oil and gas companies?
Brendon Pires
01:46:11
QUESTION: Is it possible to create the type of change needed without changing the level of consumption that the world is engaged in? Seems like a massive hurdle in the way of transitioning to clean energy.
Kathy Mulvey, UCS (she/her)
01:46:23
Thanks @Janet - Kathy Hipple & IEEFA do great work!
Holly Fowler, BASG (she/her)
01:47:04
Folks can still ask questions of Damali too. :)
David Schreiber
01:47:53
Wouldn't the removal of the tax benefit of the depletion allowance for fossil fuel extraction together with the decrease in demand make these corporations significantly less profitable?
Haben Berhe
01:48:56
QUESTION: In terms of ESG risks, do you all think investors are taking what Damali and her community is going through in their investment considerations?
Rosanne Essiambre
01:49:32
@Brendon, check out https://en-roads.climateinteractive.org/
Holly Fowler, BASG (she/her)
01:49:57
@Haben. I am hopeful. I like to think there is an advocate voice in the room sometimes.
Emma Borjigin-Wang
01:50:34
Have to hop off, but dropping here in the chat the Oil&Gas methodology development by the Science Based Targets initiative: https://sciencebasedtargets.org/oil-and-gas/. Thanks all!
Holly Fowler, BASG (she/her)
01:50:34
@Rosanne - Nice plug for a former BASG event! Check out the archives.
Sarah Simon
01:51:09
Electrify cars!
Sarah Simon
01:51:16
less petroleum needed
Brendon Pires
01:51:20
Sorry I know that’s a big one!
Kathy Mulvey, UCS (she/her)
01:51:43
and the misalignment between stated company positions and lobbying done by their trade associations is becoming a liability with investors -- they are using shareholder money to pay these groups to oppose policies they say they support.
Holly Fowler, BASG (she/her)
01:51:59
Thank you for joining us this evening, folks! If you need to leave, do keep up with us on the website, Fb, LinkedIn, etc.
Matt Spearing (he/him/his)
01:53:49
Damali, how have you found partners in local, state, or federal government (like the MA Attorney General’s office) to be allies and supportive of you and the Conservation Law Foundation in the legal tasks to hold ExxonMobil accountable?
Wanda Ratliff
01:54:55
Thank you, BASG Organizers and Presenters, for excellent presentation! I always learn so much from these meetings.
Lauren Meigel
01:55:12
Thank you for putting this on!
Nina Butler
01:55:19
Thank you all
Lisa Weil
01:55:20
Thank you organizers and speakers. Great presentation!
Peter Frumhoff
01:55:30
Vote!
Matt Spearing (he/him/his)
01:55:37
Thanks everyone.
Meera Singh
01:55:39
THANK YOU ALL
Brendon Pires
01:55:40
Thank you so much! This was fantastic. Thanks for all the great work you are doing.
tilly pick
01:55:43
thank you all!!!
Carol Baroudi
01:55:55
Awesome job Eric and fabulous speakers
Vibhustuti Thapa
01:56:01
Thank you! So informative
Margie McNally
01:56:02
Thank you everyone! Great webinar.
Eric Grunebaum
01:56:07
Thanks all!
Damali Vidot
01:56:10
Thank you all !
Matt Spearing (he/him/his)
01:56:23
Thank you Holly, Eric, Tilly, Carole and other organizers.
Kathy Mulvey, UCS (she/her)
01:56:52
Thank you so much for the discussion!
Peter Frumhoff
01:57:00
Thanks all!