Oil and Gas Companies Embrace Carbon Pricing for a Predictable Business Future
Key Ideas
  • U.S. Energy Secretary requested a study on the deployment of low- and zero-carbon hydrogen energy across sectors like power generation and transportation.
  • The National Petroleum Council presented a positive report on hydrogen's role in reducing U.S. carbon emissions and advocated for an economy-wide carbon price.
  • Oil and gas companies support carbon pricing due to the benefits of predictability in decision-making for long-term capital investments and business strategy.
  • Despite potential price increases, oil and gas companies are proactively promoting measures to address climate change and ensure industry sustainability.
In November 2021, U.S. Energy Secretary called for a study on low- and zero-carbon hydrogen energy deployment in various sectors, prompting the National Petroleum Council to release a report emphasizing hydrogen's potential in reducing carbon emissions. The report advocated for an economy-wide carbon price to support U.S. net-zero goals. Oil and gas companies, previously known for their traditional approach, are now backing carbon pricing to create a predictable business environment. This shift is driven by the recognition of the need for long-term planning and strategic decision-making, acknowledging the impacts of climate change on their industry. Despite the potential for higher prices affecting demand, these companies understand the importance of addressing climate change and ensuring industry sustainability. By engaging in strategic planning and recognizing the non-sustainability of fossil fuels, oil and gas companies are preparing for a different future with confidence and resources.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2025 AdvanceH2, LLC. All rights reserved.