Legal Insurrection by Leslie Eastman 7/1/2023
Meanwhile, offshore wind farms are facing a rising tide of mechanical breakdown issues and a solar farm in Nebraska was taken out by a hail storm.I recently reported that Sweden’s government ditched plans to go all-in on “green energy,” green-lighting the construction of new nuclear power plants.
Yet another climate cult domino has fallen, and this one may be even more significant. Shell is the second largest investor-owned oil and gas company in the world.
It has now booted its head of renewable energy, in a quest to return to its fossil fuel roots.
Shell’s (SHEL.L) head of renewable generation Thomas Brostrom is leaving the company, a spokesperson said on Friday, weeks after CEO Wael Sawan scaled back its energy transition plans.
Brostrom joined Shell from offshore wind giant Orsted in August 2021 to head offshore wind as the company planned to rapidly grow its wind and solar operations as part of a strategy to cut greenhouse gas emissions under previous CEO Ben van Beurden.
Brostrom quickly became head of renewables in February 2022 after Elisabeth Brinton stepped down less than two years after taking the reins.
Chief Executive Sawan, who took office in January, announced on June 14 a shift back to oil and gas production while paring back investments in renewables following investor pressure to focus on the most profitable businesses
Imagine that! A chief executive office responsibly listening to investor concerns, rather than being worried about climate cultists. What is this world coming to?
This is not to say there isn’t any investment in green energy by the international firm, however.
Sawan also introduced a new structure to the company’s top leadership that eliminated Brostrom’s role and split it into regions.
“Thomas Brostrøm has elected to leave Shell to pursue an external opportunity,” the company said.
He will be succeeded by Greg Joiner, currently VP Shell Energy Australia, as head Shell Energy Europe and Emerging Markets Power. Ajay Shah will lead renewable generation in Asia while Mike Parker will head offshore wind engineering.
More:
https://legalinsurrection.com/2023/07/another-green-energy-domino-falls-shell-refocusing-on-gas-and-oil/
