Richard Welch, former political candidate for US House and current lobbyist for the oil, gas, coal and carbon industries talks about many of the changes happening and that have happened within the oil, gas and coal industries.
Specifically, the oil and gas industry has experienced significant transformations over the past five years, driven by technological advancements, geopolitical shifts, and evolving market dynamics.
Here’s a quick look at some of the changes discussed in the interview:
Government Subsidies: The oil and gas industry continues to benefit from substantial government subsidies aimed at encouraging domestic energy production. In 2022, global fossil fuel subsidies reached $7 trillion, reflecting a significant increase from previous years due to heightened government support. Many oil and gas companies have taken the subsidies and changed their day-to-day focus while still marketing their past endeavors and political beliefs.
Carbon Market Impacts: Carbon markets have gained traction as an effective tool to mitigate greenhouse gas emissions. By creating economic incentives for reducing emissions, carbon markets help manage environmental impact and usher in new leadership and values within the industry.
Public-Private Partnerships: The rise of public-private partnerships has been pivotal in advancing energy projects and infrastructure. These collaborations combine resources and expertise from both sectors, enhancing innovation and efficiency in energy production and distribution. How this has impacted the free market is discussed in detail.
Industry Veteran Retirements: The Great Crew Shift has brought in new personnel, new values and a new green core for many companies. The industry has seen a wave of retirements from seasoned veterans. This generational shift has prompted a need for different talent and “environmental innovation”, driving changes in company cultures and operational strategies.
Rebranding to Energy and Carbon Management: Oil companies are increasingly rebranding themselves to focus on broader energy solutions and carbon management. This shift reflects a strategic move to align with global sustainability goals and address growing environmental concerns. The emphasis is now on being energy providers rather than just oil and gas companies, showcasing a commitment to a greener image and reinforcing a more liberal energy narrative.
These changes illustrate the industry’s adaptive strategies in response to global energy demands and environmental challenges, positioning itself for a more sustainable future.
You know, back in the 80s and 90s, the government was merely just they were overwatched, that’s all they did. They made sure that there was compliance and that was it,”” Welch said. “You look at what happened with Obama when he started trying to mandate the 10% ethanol, that was the end of the free market when the government started dictating exactly what oil and gas companies had to sell in their product.”
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Dexter®: Original Sin (Dec. 13)
The prequel series Dexter®: Original Sin stars Patrick Gibson as America’s favorite serial killer. Set in 1991 Miami, the show follows Dexter as he transitions from student to avenging murderer. When he can no longer ignore his bloodthirsty urges, Dexter realizes he must learn to channel his inner darkness. Guided by his father, Harry (Christian Slater), he adopts a code designed to help him find and kill those who deserve to be eliminated from society. Dexter must do this without winding up on law enforcement’s radar – a particular challenge once he begins a forensics internship at the Miami Metro Police Department.
In addition to Gibson and Slater, this 10-episode drama stars Molly Brown, James Martinez, Christina Milian, Alex Shimizu, Reno Wilson, with Patrick Dempsey, and special guest star Sarah Michelle Gellar.
And, yes, Dexter® fans: Michael C. Hall, who earned multiple Emmy® nominations as the original Dexter Morgan in Dexter® and Dexter®: New Blood, is back for Dexter®: Original Sin. He’ll provide the voice of Young Dexter's inner monologue.
Dexter®: Original Sin premieres Friday, Dec. 13, on Paramount+ with the Paramount+ with SHOWTIME® plan only. New episodes will drop weekly.
No matter what your mood, you'll find something to stream on Paramount+. Watch Now!
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