Opportunities and Constraints: Can the U.S. Oil and Gas Industry Transition Their Capital Expenditures Away from Fossil Fuels?

Payne Institute student Deniz Ege Boz writes about how radical curtailment of carbon-based fossil fuels as the primary source in the production, and consumption of energy is required to attain sufficient greenhouse gas emission reductions in the foreseeable future, and keep global warming below 1.5°C. Achieving this goal requires proactive efforts from all stakeholders, the government, energy companies, and consumers. This paper reviews the literature on the interactions among technological systems to identify opportunities, constraints, and policy implications for transitioning the capital expenditures of the U.S. oil and gas industry to technologies with lower carbon intensity, and discusses some alternative solutions. June 17, 2021.