Maersk, the largest shipping line company in the world, based in Denmark, consumes 12 million tons of marine oil each year. However they have a plan to curb this consumption in order  to be carbon neutral by 2050. One step towards that is investing in the Silicon Valley startup Prometheus Fuels. Prometheus Fuels produces fuel by turning direct air capture CO2 into fuel. By investing a minority stake in the company, they earn a spot at the company’s board of directors. The purchase was of an undisclosed amount, but the investment will help develop Prometheus Fuels directive of helping big, oil-using companies, to ditch oil.

I find it so exciting to live in an area so booming with innovation for the future. It really gives me hope. I know this article is on the line between being a world topic, and a biofuel topic, and a California topic but it was too cool for me not to write about. We live in Silicon Valley, and the biggest shipping company in the world is trying to curb its fossil fuels by investing in a California, Silicon Valley start-up. Like UC Steve said it is going to be about mitigation and adaptation. We can’t stop using oil so we must find new solutions by creating new fuel. Hopefully more oil consuming companies will follow Maersk and begin looking for new ways to power their business. Especially here in our backyard. 

This article discusses the Center for Biological Diversity’s lawsuit against the government over lack of protection for whales, turtles, and abalone. They are arguing that due to the oil spill in Huntington Beach that the Trump administration’s analysis that “oil spill was unlikely and would be limited to 8,400 gallons if one occurred” is wrong and therefore new drilling permits should be suspended until the risk is adequately analyzed. The CBD also believes that a scientific analysis of the situation would show that drilling off the coast of California is too destructive and dangerous, and should be phased out soon.

The Huntington Beach oil spill is a wake-up call to the government on what to do about oil. This ongoing lawsuit is one of many as a result of the oil spill in late 2021 and shows how dangerous offshore oil poses to endangered wildlife. I personally would love to see initiative from the government to beinn repairs and maintenance on these underwater oil pipes. Secondly, it is important for a scientific analysis of the area so we can best plan and prepare for future oil spills, and help prevent wildlife damage. An analysis like this, as stated above, also has the potential to be a catalyst to begin ridding the coast of oil rigs and drills.

On October 1st a large oil spill of 126,000 gallons was first detected. It was a result of a 13 inch break in an oil pipeline running along the ocean floor. The 3,000 barrels of oil that leaked into an ocean closed beaches for around a week but more importantly caused Governor Gavin Newson to declare a state of emergency due to ecological effects. Now on the date of December 31st state officials have declared the cleanup from the spill is complete.

In the article it is noted the team effort from federal, local and state levels helped put the cleanup behind them. However, the spill broached important infrastructure, and future environmental planning California will have to face. The aging and fragile pipes are the cause of this spill. It is believed the pipe was dragged along by a container ship’s anchor until it broke. The lack of maintenance on these pipes as well as their general weakness due to age is important for California to start to tackle. Lastly, due to the ecological impacts from an oil spill California can begin planning to phase out off-shore oil rigs in the future; with growing support for this initiative.

This article notes on the already high gas prices in California reaching record highs in Orange County this past week. The price for regular gasoline peaked at $4.70 a gallon in Orange county. This peak can be accounted for by a few key details. The first being a new blend of gasoline being sent over Southern California. The “summer-blend” as the article states brought the average price of gasoline up 5 cents this week. Also increased world tensions between OPEC have increased oil prices by $10 per barrel.

Everybody complains about gas prices in California. Even non-californians scoff at our high gas prices. Our heavy restrictions on domestic oil, imported oil, pollution regulations all contribute to the steep price. Unfortunately for Californians it is a cost that we will have to bear. During the quaratines of Covid gas prices dropped, but now it is important to plan shopping trips to conserve fuel, drive the speed limit – as speeding causes a decrease in gas mileage, and even invest in a more fuel efficient vehicle. The high gas prices are here to stay, pay the price, or spend the extra money.

The Los Angeles city council voted on January 26th to ban introducing new oil and gas wells due to public health concerns as well as environmental activism. In the article it is noted that over half a million LA county residents live within a quarter mile of a gas/oil well which releases dangerous toxins such as benzene. Also, the county plans to phase out all domestic oil wells over the next five years. If put into action this has the possibility of losing jobs for Californians and hiking up gas prices. On the other hand it is a big win in lowering California’s CO2 emissions and keeping residents safe.

In my opinion this is a great step towards lowering fossil fuel emissions in California. However, we are teetering on a dangerous line between making gas prices in California unbelievable. The benefit of higher gas prices is that it encourages drivers to invest in more fuel efficient cars (fun fact: my mom just bought one yesterday). I also believe that by outlawing, and phasing out oil wells, residents, especially those in the black and african american community, who are disproportionately affected by oil well pollutants, we can kill two birds with one stone lowering fuel emissions and protecting Californians from preterm births, asthma, cancer, and respiratory diseases.

NPR. (2021, June 8th). How Big Oil Companies are Promising a Low Carbon Future. Retrieved July 30, 2021, from, https://www.npr.org/2021/06/08/1002448099/big-oils-transition-3-takeaways-on-how-the-industry-is-and-isnt-going-green 

This article discusses oil companies plans or lack thereof to curve their carbon output in the future. It also mentions every oil company’s belief that the “decline of oil” will be slow as the population weans off oil and into more green options. Most interesting though, is the difference between US and foreign oil giants’ decisions on how to handle oil’s slow decline. The US opting to retain their current business model and put money towards carbon capture and other future technologies instead of changing their business model towards renewable energy.

It is laughable at how little oil companies care about the environment. It is shown in the article Exxon diverted 3 billion dollars to carbon capture technology, which seems like a lot, until you find out 93 billion dollars were put toward their current environment damaging business model. Unless large steps are taken by governments or the public population outside from the oil giants, it is clear that the oil business will have a slow and steady decline, although it is unlikely that the Earth will be able to handle such a slow decline without irreversible damage. I believe in the end oil companies solutions will lower their carbon footprint but in the end damage the environment in another way. I feel the best solution for big oil companies would be to buy out a greener company and merge with themselves in order to start their trek into green energy.

US News. (2021, May 26), 7 Best Oil Stocks to Buy, 

Retrieved July 30, 2021,from https://money.usnews.com/investing/investing-101/slideshows/best-oil-stocks-to-buy 

This article discusses which oil companies traded on the NYSE will be good to invest in, in 2021. Out of the 7 companies listed 6 were imaged with gasoline pump stations while one showed an oil rig digging for oil. The article mentioned how the expected increase in demand for oil should be beneficial to the investor looking for gains in their portfolio. Secondly, the article mentions the high unlikelihood that oil and fossil fuels will be eliminated as the world’s main source of energy in the near future, reasoning why oil is still a good investment.

My opinion on this article is that the oil business in general is open and blatant about their harm to the environment but knows that its resources are needed for the modern world to function. This article also makes me think about the ethicacy of investing in oil companies, and whether it is harmful to the environment to do so. The sad truth is that whether I personally were to invest in oil, or not, the business would continue, and if oil companies are doing well it begs the question, is it so wrong for me to make money off the business as well? I personally would not judge someone for investing in oil, but I believe it is unethical because by driving stock prices on oil higher it increases demand for the product, and you therefore, indirectly put more smog into the air.

Reuters. (2021, July 7th). U.S. 2021 crude output to decline less than previously forecast, EIA says.

Retrieved July 29, 2021, from, https://www.reuters.com/business/energy/us-crude-output-decline-less-than-previously-forecast-2021-eia-2021-07-07/ 

Consumption of liquid fuel is expected to rise throughout the year as well as global oil production. The demand for oil has caused a deficit in available oil for consumption causing a decline in the expected output for oil barrels. The demand for oil has driven an increase in the amount of drilling by US oil companies in order to meet the demand. Also, the amount of oil rigs set up in the US has increased to meet the need.

The main opinion I came away with from this article is that the increase in drilling and drilling set ups will damage more ecosystems and cause more smog in the air. It is also interesting to me that every article I found only talks about the business side of oil and how its resurgence with the reopening of the economy is good for business. Although every article fails to mention the consequences the increase in oil consumption will have on the environment. Also with more American output of oil it will cause more domestic smog and carbon footprint in the US.

CNBC. (2021, July 1st). U.S. Crude Oil Prices top $75 a Barrel, the Highest Rate Since 2018. Retrieved July 28, 2021, from, https://www.cnbc.com/2021/07/01/us-crude-oil-prices-top-75-a-barrel-the-highest-since-2018.html 

With increased demand after reopening the economy and summer travel season on the horizon the world is seeing an increase in oil prices. The “U.S. West Texas Intermediate crude for August settled up 2.4%, or $1.76, at $75.23 a barrel.” Gasoline price average has also increased almost a dollar in average cost from a year ago from $2.179 to $3.123 dollars per gallon. The article says the market was an estimated 2.3 million barrels short per day and Bank of America’s estimate believes a barrel of oil could reach $100 a barrel. 

My first thought while seeing the price of oil increase was “Could this cause people to purchase less oil with the price so high?” Unfortunately for the environment I don’t think so. With people returning to jobs and wanting to travel in the summer the surge in oil consumption will return to pre pandemic levels putting a harder strain on the environment. Also with the reopening of the world, practically, the chances of people consuming more oil than before the pandemic is higher with a person’s inherent want to get away from home. Although oil prices are high and the cost may have adverse effects on peoples bank accounts, big business, as well as the everyday person demands oil causing more smog and damage to the environment.

Bloomberg. (2021, July 13th). U.S. Oil Consumption Surging with Industry Firing at Full Blast. Retrieved July, 28, 2021, from, https://www.bloomberg.com/news/articles/2021-07-13/u-s-oil-consumption-surging-with-industry-firing-at-full-blast 

Oil consumption throughout the US is returning to pre-pandemic levels as the economy returns to full strength. Although with the return of high levels of oil consumption an oil deficit is a cause for concern as workers were thinned during the pandemic. In the article Texas and Colorado Rockies based oil companies were having difficulty meeting the supply for oil barrels. The recovery of the oil business is looking good for American investors and imports as long as demand can be met.

This article relates to environmental science because the sourcing of oil affects the environment as well as the production of goods such as plastic, jet fuel, or propane usage that is also surging. The increased usage will affect smog being put into the air as more cars and planes burn fuel, as well as more increased plastic production for P.P.E creates more waste for landfills or litter in the ocean. Although businesses and economies are returning to normal the boom in oil usage will most definitely put more strain on the environment and increase climate changes effects.