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What role should oil and gas companies play in climate tech?

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MIT Technology Review

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The article discusses the potential role of oil and gas companies in climate tech, focusing on a geothermal startup called Quaise and its partnership with drilling giant Nabors Industries. The collaboration highlights the opportunity for legacy players to contribute to the energy transition. While oil and gas companies possess valuable resources and expertise, their historical focus on fossil fuels raises questions about their commitment to addressing climate change. The International Energy Agency emphasizes the importance of industry engagement in achieving net-zero emissions by 2050, pointing to areas like hydrogen, biofuels, carbon capture, and geothermal where their knowledge could be beneficial. Despite some recent investments, the industry's overall contribution to climate tech remains limited, with companies like BP and Shell facing scrutiny for backtracking on clean energy commitments. The article underscores the need for oil and gas companies to make significant changes to align with climate goals, emphasizing that proactive action is essential in the transition to a sustainable energy future.

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