Environmental, Social, and Governance (ESG)

Environmental, Social, and Corporate Governance (ESG) refers to the three central factors in measuring the sustainability and societal impact of an investment in a company or business. These criteria help to better determine the future financial performance of companies (return and risk). The threat of climate change and the depletion of resources has grown, so investors may choose to factor sustainability issues into their investment choices. The issues often represent externalities, such as influences on the functioning and revenues of the company that are not exclusively affected by market mechanisms. As with all areas of ESG, the breadth of possible concerns is vast (e.g. greenhouse gas emissions, biodiversity, waste management). Two of the chief areas of ESG related risk mitigation for potential Proteum EnergyTM investors are listed below:

• Climate change: The body of research providing evidence of global trends in climate change has led investors— pension funds, holders of insurance reserves—to begin to screen investments in terms of their impact on the perceived factors of climate change. Fossil fuel-reliant industries are less attractive. In the UK, investment policies were particularly affected by the conclusions of the Stern Review in 2006, a report commissioned by the British government to provide an economic analysis of the issues associated with climate change. Its conclusions began the ESG trend and pointed towards the necessity of including climate change considerations and environmental issues in all financial calculations and that the benefits of early action on climate change would outweigh its costs.

• Sustainability: In every area of the sustainability debate from the depletion of resources to the future of industries dependent upon diminishing raw materials, the question of the obsolescence of a company’s product or service is becoming central to the value ascribed to that company. The trend for this long-term view is becoming prevalent amongst investors.

Industry Articles

Korean Refiners Turn to Hydrogen in Search of Next ‘Oil’

South Korean refiners are jacking up investment in the burgeoning hydrogen market to secure their place in a world shifting away from fossil fuels and to get ahead of the next big change in the energy industry. Hydrogen, which burns clean when mixed with oxygen in a fuel cell, can be used for various industrial purposes, vehicles and ships, but
6/30/2021

Investing in Tomorrow’s Energy Infrastructure

The global quest for more sustainable energy and the fact that some renewable power sources have become cheaper than fossil fuels have prompted a rethink of how we generate, store, transport and consume energy. However, fully embracing clean energy will involve refitting legacy pipelines, electricity grid networks and other infrastructure or building from
6/30/2021

Daimler Trucks Begins Rigorous Testing of Its Fuel-Cell Truck

Stuttgart – Daimler Trucks is focusing on hydrogen-powered fuel-cells for the electrification of its vehicles for flexible and demanding long-haul transport. It aims to achieve ranges of up to 1,000 kilometres and more without any stops for refuelling. In late April, the truck manufacturer began to conduct rigorous tests of the first new enhanced prototype of its
5/24/2021

$8 Billion Proposals Could Bring New Gas-Fired Plants to Texas

An energy investment group told Texas regulators the company has a plan to help solve some of that state’s electricity reliability issues, proposing a plan similar to one put forth by billionaire Warren Buffett’s Berkshire Hathaway Energy in
5/24/2021

Panic Buying Is Causing Fuel Shortages Along The Colonial Pipeline

Because the Colonial Pipeline is such an important supply line for the southeast and the East Coast, a major disruption can quickly lead to shortages in fuel supplies across these regions. We have seen this in the past when the pipeline had to be down for more than a few days
5/11/2021

The Colonial Pipeline Attack Is A Major National Security Incident

The majority of U.S. refining capacity is on the Gulf Coast. Refineries there receive a combination of domestic and Canadian crude via pipeline, as well as waterborne imports from all over the world. The crude oil is converted into gasoline, diesel, jet fuel, and miscellaneous other products
5/09/2021

Equinor Blazes A Renewable Path, But Can Other Oil Companies Follow?

Up until 2018, the Norwegian oil company Statoil was one of the world’s integrated supermajor oil companies. While not quite on the level of ExxonMobil XOM +0.1% or Chevron CVX +0.3%, the company was one of the world’s major oil producers. In fact, that remains the case today, although Statoil is now Equinor
5/07/2021

Nuclear Reactors Could Provide Plentiful Zero-Carbon Hydrogen, If Only We Let Them

Hydrogen was thrust into the spotlight as a promising clean energy source by President George W. Bush in his 2003 State of the Union address. President Bush touted the potential for a “hydrogen economy” that would greatly slow the release of carbon dioxide into the atmosphere. Since then, billions of dollars have been invested in an
4/29/2021

Surprise? Oil Demand Is Bouncing Back

As the Covid-19 pandemic began to spread last year, I developed an idea. I hypothesized that the pandemic would cause a permanent dent in oil demand. I covered that hypothesis in a couple of articles last year, including Will Covid-19 Hasten The Demise Of Fossil Fuels
4/25/2021

Energy Trounced All Other Sectors In The First Quarter

After three abysmal quarters in 2020 — due to the triple whammy of an oil price war between Saudi Arabia and Russia, demand destruction as a result of the Covid-19 pandemic, and perceptions that oil is giving up its dominance to renewable energy and electric vehicles — the energy sector has dramatically picked up over
4/17/2021

Why Gas Prices Rise Nearly Every Spring

Although it wasn’t strongly emphasized in the recent discussions on the rise in gasoline prices, those prices to rise nearly every spring. But why does it happen? There is no question that it does happen. If you check the history of gasoline prices at the U.S. Energy Information Administration's (EIA) website you can see that gasoline prices almost always
4/10/2021

The Enormous Energy Legacy Of President George W. Bush

I often remind people that a U.S. president’s policies generally have limited impact on the energy markets in the short term. This topic often comes up when gasoline prices are rising or falling. However, over the longer term a president’s policies can make a big impact. One of the examples I often use is President Nixon
4/06/2021

Oil Production Changes By President From 1961-2020

Over the past 60 years, U.S. oil production has seen its ups and downs. From the decline that began in 1970 through the fracking boom of the 2000s, U.S. presidents have overseen a wide range of oil production changes. As I have explained previously, a president often benefits from the actions of his predecessor. For example
4/05/2021

Fuel Cells Today Are Where Batteries Were a Decade Or So Ago, Says Ceres Power CEO

Borne out of Imperial College in London, UK in 2001, Ceres Powers’ technology was the invention of lithium battery and fuel cell pioneer, Professor Brian Steele. He believed the ceramic solid oxide fuel cells (SOFCs) at that time were too fragile and too expensive, so worked to develop a cheaper and more robust power generation solution – the SteelCell
4/05/2021

Funding For Battery Technology Companies Exploded In 2020

Last fall Swedish lithium-ion battery maker Northvolt announced that it had raised $600 million in equity to invest in capacity expansion, research and development, and large-scale recycling. The capital raise included institutional investors Baillie Gifford, Baron Capital Group, Bridford Investments Limited, Norrsken VC & PCS Holding together with
4/05/2021

The Inherent Risks In President Biden’s Energy Plan

You may count me among those who want to see society move beyond fossil fuels. We all know there are negative consequences associated with fossil fuel usage, such as the emission of carbon dioxide and various other pollutants. However, fossil fuel replacements come with their own risks and trade-offs, and it is important to understand and weigh these
4/05/2021

Addressing Reader Feedback On Rising Gasoline Prices

Over the past two years, I have written two articles for Forbes on gasoline prices that got more than half a million views each. That means there is obviously tremendous interest in the topic, but there is also a tremendous amount of misinformation circulating. It’s a subject that stirs great emotions in people
4/05/2021

Which President Oversaw The Highest Gasoline Prices?

This week I filled up with gasoline, and the price was over $3.00 a gallon. It’s been a long time since I paid that much for gasoline. In fact, I checked the data at the Energy Information Administration (EIA) to see the last time weekly gasoline prices were above $3.00/gal. It was in May 2018, during President Trump’s second year in office
3/27/2021

Why Gasoline Prices Will Continue To Rise

This past week the national average price for regular gasoline rose to $2.71 per gallon. That marks an increase of $0.46/gallon since the beginning of the year. On a daily basis I see accusations on social media that this price rise is a consequence of Joe Biden winning the presidential election. I am going to explain why this is ludicrous, but I would pose
3/16/2021

Political Shifts In U.S. And Europe Bring Clean Energy Supply Chains To The Fore

Over the past decade, no major energy source has grown faster than solar power. According to the 2020 BP Statistical Review of World Energy, installed solar photovoltaic (PV) capacity has grown at an average annual rate of over 42% over the past 10 years, translating into a doubling of global capacity every 1.7 years on average
3/12/2021

Athlete-Turned-CEO Wins Rainmaker Race

Jill Evanko has been a tough competitor since her college days. Now she is an award winner. The CEO of energy and industrial gases supplier Chart Industries, Jill Evanko, is 2020’s Rainmaker in ExxonMobil’s Power Play awards. The category recognizes a female professional who has delivered exceptional value and business results
3/10/2021

Oil & Gas Authority UK: Carbon Dioxide Appraisal and Storage License

UK Continental Shelf: Southern North Sea . The Oil and Gas Authority (‘OGA’) has received an application for a Carbon Dioxide Appraisal and Storage Licence pursuant to Chapter 3 of the Energy Act 2008 (the ‘Act’), in respect of the following area (the ‘Area’)
3/08/2021

Mitsubishi Heavy Industries Engineering to Test Carbon Capture Technology at Technology Centre Mongstad in Norway

Mitsubishi Heavy Industries Engineering (MHIENG), part of Mitsubishi Heavy Industries (MHI) Group, has entered into an agreement with Technology Centre Mongstad (TCM) to test its proprietary solvent for capturing CO2 at the amine plant located in Mongstad, Norway. The test campaign will start in May
3/08/2021

Kenworth Truck Makes History at Pikes Peak With Help From Toyota

Making it to the summit of Pikes Peak in Colorado is a grind. With steep grades and over 150 turns, reaching the 14,115 foot summit is challenging for any vehicle, let alone a Class 8 truck. Add in the extra hurdle of making it to the top with zero emissions and it’s clear why this was a daunting effort
3/05/2021

Oil Trade Group Is Poised to Endorse Carbon Pricing

WASHINGTON—The oil industry’s top lobbying group is preparing to endorse setting a price on carbon emissions in what would be the strongest signal yet that oil and gas producers are ready to accept government efforts to confront climate change. The American Petroleum Institute, one of the most powerful trade associations in Washington, is
3/03/2021

Natural Gas Performed Heroically In Texas, Until It Didn’t

In an article this week for WIRED — The Energy Sector Must Prepare for More Extreme Weather — I detailed some of the primary causes behind the recent power outages in Texas. One aspect I didn’t cover in that article was the political finger-pointing that went on as the incident unfolded
2/26/2021

GE Announces First Commercial Operation of GE’s 9HA.02 Technology Globally at Southern Power Generation’s Track 4A Power Plant in Malaysia

JOHOR, MALAYSIA – February 24, 2021– GE (NYSE: GE), CTCI Corporation (CTCI), and Southern Power Generation Sdn Bhd (SPG) today announced the start of commercial operation for Southern Power Generation’s Track 4A Power Plant, a 1,440-megawatt combined cycle gas power plant in Pasir Gudang, Johor, Malaysia. This site will feature GE’s first
2/24/2021

The Energy Sector Must Prepare for More Extreme Weather

Texas has always seen its share of extreme weather events, but over the past two decades they have intensified. A few years ago, after the fifth “500-year flood” in five years, I remarked to a friend, “We’re going to have to stop calling them that.” Last week, Texas was hit by a different kind of extreme weather event: Record-smashing
2/22/2021

Mitsubishi Heavy Industries Sets Out to Commercialize the Use of CO2 Carriers

The country that created the LNG seaborne trades is setting out to commercialise the shipping of carbon dioxide. Japanese shipbuilder Mitsubishi Heavy Industries (MHI) has rolled out plans to commercialise a CO2 carrier design by 2025 to support its diversification into the carbon capture sector. It comes as another Japanese shipbuilder
2/09/2021

Green Hydrogen Plant in Saudi Desert Aims To Amp Up Clean Power

Can a multibillion-dollar project in the Saudi desert jump-start the demand for green hydrogen, an elusive energy source that could help eliminate carbon emissions from vehicles, power plants and heavy industry? The allure of hydrogen is undeniable. . Unlike oil and natural gas, it doesn’t emit carbon dioxide when
2/08/2021

How Fossil Fuels Are Being Used To Reduce Carbon Dioxide Emissions

In Part I of my interview with James Rockall, the CEO of the World LPG Association, we discussed the major global problems associated with indoor air pollution caused predominantly by cooking. He explained how liquefied petroleum gas (LPG) is a cleaner alternative to many of the fuels used in developing countries. Today, we discuss the
2/04/2021

How Fossil Fuels Are Saving Lives In Developing Countries

Over the past 20 years, renewable energy usage has exploded around the world. In general, there is a widespread belief that renewable is better for the planet. That is often true. But not always. Last week I interviewed James Rockall, who is the CEO of the World LPG Association based in Paris, France. Mr. Rockall highlighted a major
2/01/2021

How President Biden’s Executive Orders Impact The Oil Industry

In late 2019, as various candidates jockeyed to win the Democratic nomination for president, Elizabeth Warren made the statement that she would “ban fracking everywhere.” It was just the kind of hollow campaign promise that I loathe, and I explained why that was an unrealistic promise. Then Joe Biden came along and pandered to the same
2/01/2021

New Mexico Looks To Solve Its Gas Flaring Problem

Gas flaring in the largest U.S. shale plays has been in the spotlight since the shale revolution started. Pressure from society and ESG investors have recently turned up the heat on the oil and gas industry to reduce flaring and eliminate routine flaring as a step toward contributing to emissions reduction. The spotlight in the
2/01/2021

Analysis: China's gas buyers shun high-priced spot LNG despite energy shortages

Market Movers Asia Jan 18-22: LNG prices remain on spotlight; eyes on policies as Biden takes office. The highlights on S&P Global Platts Market Movers Asia, with senior analyst Crystal Hao
1/15/2021

Zero Emissions Kenworth T680 FCEV on the Climb to 14,115-Foot Pikes Peak Summit

Kenworth became the first company to reach the summit of Pikes Peak with a Class 8 fuel cell electric vehicle. The milestone occurred during a Kenworth T680 FCEV zero emissions performance demonstration
1/11/2021

Congratulations to Hexagon Purus on their IPO!

Hexagon Purus admitted to trading on Euronext Growth Oslo 14 December 2020 | Hexagon Purus tatt opp til handel på Euronext Growth Oslo 14. desember 2020
1/03/2021

What A Joe Biden Presidency Means For The Oil Industry

Although the race hasn’t officially been called, it looks likely that Joe Biden will be the 46th President of the United States. There has been a lot of hand-wringing in the oil industry about the consequences of a Joe Biden win, so let’s discuss those today. Here is some context I like to use to frame the discussion. President George W. Bush was formerly a
11/07/2020

Chart Industries Acquires the former Worthington Taylor-Wharton Microbulk Cryogenic Tank Business

ATLANTA, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (“Chart”) (NASDAQ: GTLS) completed the acquisition of the Microbulk cryogenic tank intellectual property, equipment, and other assets from IC Biomedical (“ICB”), a private entity on November 2, 2020. Chart acquired the business from IC Biomedical upon
11/04/2020

Texas Could Tighten Some Natural Gas Flaring Rules by Fall

Texas as early as this fall could tighten some rules for the controversial practice of natural gas flaring, the head of the state's regulatory commission said on Tuesday. The practice of burning off unwanted natural gas produced alongside more profitable oil has become a top issue for both environmentalists and investors, who are focused on
6/16/2020

Mexico’s Pemex Makes Unusual Move With Call For Joint Venture Opportunities

Mexico’s Pemex is looking for joint venture opportunities, the country’s energy regulator said. That’s despite the president’s decision to suspend all new bidding rounds and review all contracts with foreign oil companies signed by the previous government
4/17/2020

The Secret Weapon Giving Mexico Power in the Oil-Price War

As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from low prices. With talks well into their third day, the Mexican sovereign oil hedge, which insures the Latin American country against low prices and is considered a state secret, is a
4/11/2020

Texas Oil Industry Launches Alliance to Tackle Flaring, Emissions

Several oil and gas companies and trade associations in Texas recently formed a coalition to work together to minimize flaring and methane emissions. Known as the Texas Methane and Flaring Coalition, the new group will collectively identify and promote operational and environmental recommended practices, according to a release on
3/31/2020

Cimarex to Link Executive Pay to Cutting Emissions, Flaring

Cimarex Energy (NYSE:XEC) says it will tie executive pay to the company's success in reducing emissions and natural gas flaring, saying the industry needs more environmental credibility. Cimarex will set 2020 targets for reducing flaring and emissions, increasing water recycling in its oil and gas well development, and electrifying its
2/21/2020

Oil and Gas May Be a Far Bigger Climate Threat Than We Knew

Oil and gas production may be responsible for a far larger share of the soaring levels of methane, a powerful greenhouse gas, in the earth’s atmosphere than previously thought, new research has found. The findings, published in the journal Nature, add urgency to efforts to rein in methane emissions from the fossil fuel industry, which
2/19/2020

Regional LNG Finds Growing Demand Off the Pipeline Grid

While massive world-scale liquefied natural gas (LNG) projects around the coast of North America have dominated headlines, smaller-scale regional LNG is also growing quickly. There are at least five operations, four fixed facilities in various stages of commercialization, and one using truck-mounted Cryobox liquefaction units to monetize stranded gas
1/31/2020

Oil Producers Are Setting Billions of Dollars on Fire

Relatively clean and flexible, natural gas has been described as “the champagne of hydrocarbons.” Lately, though, energy companies are treating it about as sparingly as a team that just won the World Series. Tremendous quantities are intentionally burned off to make way for oil production. The problem is likely to get worse in the
1/10/2020

Raymond James- Energy Stat_Flaring

Energy Stat: Flaring Eats Up 4% of World's Gas Volumes Each Year - How Is the Oil Industry Addressing This Issue? At a time when the oil and gas industry is coming under intensified pressure from ESG investors to reduce its environmental impact, a textbook example of low-hanging fruit is flaring of
12/31/2019

Turn Out The Lights: Can Flaring Be Curbed?

Mark Casaday, Edge LNG, outlines how a flaring-free, venting-free, constraint-free shale industry is possible with micro scale LNG. For the Permian Basin, the future is bright – and getting brighter all the time. In fact, the McDonald Observatory in Texas has noted an increase in average sky brightness due to artificial light from 14% in
12/30/2019

Texas Gas Flaring Draws Lawsuit From Pipeline Company

Flaring of natural gas has ended up in court in Texas. But it’s not what you might think. It’s not an environmental group suing to stop the practice of burning off gas in the field. It’s a pipeline company that wants state regulators to require a gas producer to put the fuel into a pipe and move it to market
12/24/2019

Permian Flaring Frenzy

The practice is a disaster on many levels. It is wasteful, it worsens air quality and it exacerbates climate change. Venting gas is much worse than burning it since it releases methane into the atmosphere, a potent greenhouse gas. The New York Times documented several “super emitters” in the Permia
12/14/2019
6/08/2019

The future of natural gas in North America

What role will natural gas play in North America’s energy mix over the next decades? And how can players position themselves to manage threats and capture opportunities from the energy transition? Industry discussions about the future of gas in North America are polarizing. On one hand, the shale revolution keeps delivering
6/08/2019