Five European oil and gas companies, are calling for emissions-trading systems or taxes on carbon emissions for industries. They asked for it in a letter to the climate commission of the UN.
The challenge is to meet a higher demand for energy with less CO2 emissions, say oil and gas companies.
BP, Shell / BG Group, Eni, Total and Statoil are joining forces for an initiative calling for carbon pricing. The big 5 want to help shape climate policies to benefit natural gas, which produces about half the carbon emissions of coal when burned to create electricity. Read More