Article by Rakteem Katakey published 2 June 2015 by Bloomberg.com
Shell CEO Ben Van Beurden…. said his company has changed from “an oil-and-gas company to a gas-and-oil company.”
Oil companies that have pumped trillions of barrels of crude from the ground are now saying the future is in their other main product: natural gas, a fuel they’re promoting as the logical successor to coal.
With almost 200 nations set to hammer out a binding pact on carbon emissions in December, fossil-fuel companies led by Royal Dutch Shell Plc and Total SA say they’re refocusing on gas as a cleaner alternative to the cheap coal that now dominates electricity generation worldwide.
That’s sparked a war of words between the two industries and raised concern that Big Oil is more interested in grabbing market share then fighting global warming.