Chevron would not invest in renewables this time around, especially as its CEO Mike Wirth made it clear that the company would not change anytime soon. Wirth commented on an interview with CNBC that people should "plant trees," saying that the company did not invest in wind and solar because it still believes in petrol and fuel.
A lot of Big Tech companies have focused on Earth Day 2021's pledge to going carbon neutral, with Google promising that five of its major data centers would produce no more emissions by 2030. On the other hand, Apple announced their soon venture, also having a target date of 2030 to be more Earth-friendly with its plans of solar and wind energy use.
Chevron Would Not Invest in Renewables
MILL VALLEY, CALIFORNIA - JULY 12: Gas priced nearing $5.00 a gallon are displayed at a Chevron station on July 12, 2021 in Mill Valley, California. The price of gasoline in the San Francisco Bay Area is the highest in the nation with an average price of $4.46 for a gallon of regular in San Francisco. The statewide average in California is $4.30, the highest average in the state since 2012.
CNBC had a chance to interview Mike Wirth, the current CEO of Chevron, to ask about their stand in the future of energy consumption, as well as the energy production which they take part in. The CEO has been asked about their stand in renewable energy, which talked about solar, wind, and hydro, things which were not that of a priority by Chevron.
Here, the CEO said that the money earned by the shareholders would focus on tree planting, something which Wirth said to "let them plant trees," and the company would continue with its current focus, which is petrol.
Almost all corporations in the world are pledging their companies to commit to saving the Earth or help in reducing its carbon footprint during this time. It is known that the planet is facing a massive crisis of battling the pollution and conditions it currently faces that change the way it works and depletes its current lifeline.
Chevron is looking into another focus on its gas or petrol product use, particularly as it aims to still capture the environment-friendly move that would help in reducing carbon footprint now. It is known that Chevron is one of the leading producers of petrol in the world, something which ICE cars use.
Chevron Still to Produce Gas?
The recent investor presentation by Chevron via the Energy Transition Spotlight tackled the future of the company in the changing world. Now, electric vehicles are getting more popular as people aim to help in reducing carbon footprint and greenhouse gasses which make the Earth hotter, leading to a drastic case of Climate Change.
Still, Chevron is focused on its strengths and foundation, which is the production of gasoline, something which may be frowned upon during these times. However, Chevron is making an effort with regard to it, especially with their plans.
Chevron's Low-Carbon Petrol, Gas
Chevron is looking into a new venture, and it is the low-carbon gas or petrol which they are trying to produce to help in reducing carbon footprint.
Related Article: NASA Air Taxi Test Flight: eVTOL to Soon be Regular Vehicles Included in National Airspace
This article is owned by Tech Times
Written by Isaiah Richard
