The Roadmap For A Clean Energy Transition

Posted: January 15, 2021
Category: News Pulse

RP Weekly Recap | January 11 – 15

Summary

Progress towards global decarbonization is quickly becoming one of the hottest topics in 2021 following the momentum experienced in 2020. Dozens of countries, multitudes of cities, and countless companies have announced their goals to achieve net-zero emissions on their path towards decarbonization by mid-century. The problem is, most of these announcements lack any specific path forward. As a part of this movement, the International Energy Agency announced that it will produce the world’s first comprehensive roadmap for the energy sector to reach net-zero emissions by 2050 as it further strengthens its leadership role in global clean energy transitions. But is the world prepared for such a transition as the clean energy infrastructure is clearly not yet capable of supplying reliable energy on a global scale as seen in the recent blackouts in China and California? Check out these stories and more in this week’s recap of all things happening in oil and gas! 


COVID-19 Updates

COVID-19 Statistics

  • Number of Cases (Worldwide): 93,418,283 (up from 88,389,886 last week)
  • Number of Cases (USA): 23,362,050 (up from 21,644,957 last week)
  • Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

Global Market News


Employment Updates


United States Rig Count

  • UP 13 from last week for a total of 373
  • Down 53.1% from one year ago
  • Statistics courtesy of Baker Hughes

RARE PETRO Updates

Content UpdatesNews PulsePodcast

  • Episode Ten of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with dedicated oil and gas management guru, the founder and CEO of Denver-based Halker Consulting, Matt Halker! 

  • Episode 7 (Digital Reality) from our newest segment, the Modern Mobile Oilfield is available now! This series is a collaborative effort between world renowned author Geoffrey Cann and RP host Tavis Killian that will expand on topics covered in the book “Bits, Bytes, and Barrels”. This new segment is aimed at energy professionals at any level who are looking to better understand the future of a digital oilfield, and potentially implement these technologies into their company’s workflow. Be sure to watch or listen on all available platforms!

  • A new episode of the Periodical Podcast is available now! Be sure to check out our discussion on why/how domestic E&P companies are driving away investors in the energy sector amongst a global pursuit for decarbonization.

  • This week’s Periodical exposes the fact that E&P companies have driven away investors in the energy sector by not delivering returns amongst a global pursuit for decarbonization. While investor disenchantment within the United States oil industry isn’t new, it appears to have worsened with the COVID-19 market environment. From 2015 to 2016 at the start of the “lower-for-longer” downturn, the market seemed optimistic about the industry. By 2020, the double impact of the global pandemic and the Russia/Saudi price war seems to have led many investors to avoid oil stocks as they start seeking new opportunities. Moving forward into 2021 and 2022, capital will be difficult to source until investors feel comfortable that the industry can develop resources without squandering their money again.


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