As the pandemic continues to strain oil and gas companies, some are using it as an opportunity to more aggressively shift toward the development of renewable fuels.
Matt Smith, director of commodity research at ClipperData, tells Texas Standard that the pandemic hastened what was already a “sea change” in the industry toward more renewable fuels.
“The drumbeat is building for peak gasoline demand,” Smith said. “So whether that’s due to the behavioral changes we’ve seen this year in terms of working from home, or if it’s technological advances due to greater fuel efficiency, or if it’s simply just that move towards more electric vehicles, there is that sea change underway.”
What you’ll hear in this segment:
– Why factors beyond the pandemic are forcing the oil and gas industry to change course
– How some oil refineries are being retrofitted to process vegetable oil into “renewable diesel”
– How California leads the way when it comes to importing renewable fuels