Chevron said in their announcement of acquiring PDC energy that the acquisition will lower their carbon intensity. How? PDC exclusively deals in oil and gas . There might be some synergies in exploration and production but I can't imagine they would offset what the added CO2 emissions from final product would be.
It seems to me that integrated energy companies have given up on even pretending to care about the environment with oil (mainly) and gas returning what they are. BP and Shell have both rolled back their energy transition plans and are saying carbon neutral by 2050 isn't possible. They have no economic incentive to implement meaningful change and have proven so by investing even further into fossil fuels. So is this “Lower carbon intensity” statement true? Because I'm skeptical.
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