AIEN is pleased to announce the publication of a new Research Paper “Implications of ‘Net-Zero Emissions by 2050’ for the Hydrocarbon Industry”, authored by Professor Tina Soliman Hunter, Jordie Pettit, and Dr. Madeline Taylor. AIEN’s annual Research Paper program offers a substantial grant to selected qualified authors for preparation of practical, thoroughly researched papers on topics directly relevant to international energy negotiations, and once completed, these papers are offered free for members.
Climate change, and the need to wean the world off hydrocarbon sources of energy, will have a significant impact on the hydrocarbon industry, an industry worth hundreds of billions of dollars annually, and which has been in existence for over a century. Even though the phasing out of hydrocarbons as an energy source is inevitable, the demise of the hydrocarbon industry is not. This study demonstrates that the hydrocarbon industry can make a significant contribution as the world transitions to low carbon energy. In this paper, we discuss the role of the hydrocarbon industry in developing a new hydrogen industry, demonstrating how the industry’s know how will be vital in the development, construction, and delivery of both blue and green hydrogen to an energy hungry world.
The study analyzes the development and use of hydrogen and the concomitant need for CCUS to provide low-carbon energy sources. In undertaking the analysis, this study critically examines the legal and policy challenges, as well as the opportunities, the hydrocarbon industry will face as states seek to attain their goal of net-zero carbon emissions. To comprehensively address this objective, the paper undertakes a detailed examination of what the challenges are, how they can be overcome, and the implications for the hydrocarbon industry. To accurately analyze such implications, this study investigates the responses to the challenge of NZE2050, and its impact on the hydrocarbon industry, focusing primarily on the experiences of mature petroleum jurisdictions to both highlight the various responses of the hydrocarbon industry in these jurisdictions and for lessons on the decarbonization road ahead.
An abbreviated version of this paper was published in the AIEN’s Journal of World Energy Law and Business June 2023 issue.
Each year, AIEN solicits proposals from leading academics and practitioners to produce a new research paper. This paper was awarded as part of the 2021 Research Paper Grant Program.