The oil and gas majors are phasing down their renewable strategies. What does it mean for climate goals?

The oil and gas majors are phasing down their renewable strategies. What does it mean for climate goals?

In February this year BP announced it was cutting its investment in green energy ventures from $5B to $2B while reallocating $10B to fossil fuels, and abandoning its 2030 oil output reduction target. Shell has also scrapped its planned 20% carbon reduction cut for 2030. It’s not a good display of intent from the perspective of the energy transition. In a highly volatile and uncertain policy environment it’s troubling for investors and clean energy developers. The prioritisation of short-term profit at the expense of long-term climate impact has many implications.

To find out, host Sylvia Leyva Martinez is joined by private investor Ben Dell, Managing Partner at Kimmeridge. He says that while “everyone wants low-cost energy on demand with a minimal carbon footprint, every dollar invested has to be cost-competitive. Philanthropy is not an investing strategy.” What does that mean in the context of clean energy deployment?

Plus, Wood Mac analyst Tom Ellacott joins the show to look at the outlook for oil and gas in light of the news from the majors. As he sees it, gas is a growth fuel for the next 20 - 30 years and the most optimal power delivery system is still renewables paired with small-scale batteries and natural gas. So why are major energy providers flip-flopping with their strategies when this is widely accepted?

The key questions are: how are oil and gas majors adjusting their capital allocation between fossil fuels and renewables? What’s the role of natural gas in the transition? And how should investors navigate volatility and uncertainty in energy markets? You’ll get the answers here.

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The muscle we forgot: SMRs, hyperscalers, and why this nuclear renaissance might actually be different

The muscle we forgot: SMRs, hyperscalers, and why this nuclear renaissance might actually be different

Why nuclear has never been project financed and how that might finally be about to change.Every nuclear plant ever built has ultimately been backstopped by taxpayers or ratepayers. Not because the tec...

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The grid nobody planned for: public power, hyperscalers and the race to rewire America for the AI age

The grid nobody planned for: public power, hyperscalers and the race to rewire America for the AI age

What two decades of flat demand means for a grid now expected to double in sizeThe US went from essentially zero load growth for twenty years to 3% national growth almost overnight. The supply chains,...

10 Maalis 1h 4min

Is hyperscaler demand finally giving CCS its moment?

Is hyperscaler demand finally giving CCS its moment?

Carbon capture and storage has long been framed as a clean technology that’s forever five years away. Bridget van Dorsten speaks with Tim Vail, CEO of ION Clean Energy, to explore why a surge in AI da...

24 Helmi 47min

Building the plane while it’s flying: data centers, utilities, and the new rules of power

Building the plane while it’s flying: data centers, utilities, and the new rules of power

After more than a decade of flat demand, the US power sector is now facing explosive growth, arriving faster than grids, generation, and transmission can be built. In this episode, Interim host of Int...

10 Helmi 44min

Fuel cells are powering AI data center demand: they’ve moved from interesting clean tech to major player. How are utilities using them?

Fuel cells are powering AI data center demand: they’ve moved from interesting clean tech to major player. How are utilities using them?

US data centre announcements are averaging 435MW a month, and there’s around 175GW of large-load capacity already committed or under construction. AI hyperscalers are looking for innovative ways to me...

27 Tammi 43min

AI, and the battle for energy in 2026. What clean energy sources are going to meet demand?

AI, and the battle for energy in 2026. What clean energy sources are going to meet demand?

AI is changing the energy system faster than almost anything we’ve seen in decades. Interim host, engineer and energy analyst Bridget Van Dorsten is joined by Ed Crooks, host of Energy Gang and Vice-c...

13 Tammi 29min

How are key renewable energies faring at the end of 2025? Guest host and energy analyst Bridget van Dorsten talks through developments in geothermal, hydrogen and wind.

How are key renewable energies faring at the end of 2025? Guest host and energy analyst Bridget van Dorsten talks through developments in geothermal, hydrogen and wind.

At the start of the year things were looking uncertain for nascent renewables like hydrogen and geothermal. With policy support from the previous US administration they had boomed with the IRA, then c...

2 Joulu 202537min

Energy policy, technology, and utility challenges: How industry leaders are overcoming barriers

Energy policy, technology, and utility challenges: How industry leaders are overcoming barriers

Utility-scale clean energy projects in development are still facing connection queues and regulatory barriers. RE+ may be done for 2025, but the debate is still going. Host Sylvia Leyva Martinez, Rese...

18 Marras 202537min

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