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I think realistically they are in the business of making O&G cheaper to extract through efficiencies that gain some climate merit (but very little). It's more
by boringg 6y ago
I think realistically they are in the business of making O&G cheaper to extract through efficiencies that gain some climate merit (but very little). It's more like the limited climate benefit is an add-on to core business.
The challenge in selling to O&G companies is they don't really care about climate initiatives. They do have concerns but its not their bread and butter there fore you have to package your sell in other ways such as cost efficiency.
- kthejoker2 6y agoVery late to this discussion, but O&G absolutely cares about sustainability and climate change ... because there are a ton of activist investors who care about it. So they have to "put on their Sunday best" or they get shellacked in socially responsible index fund investor calls and press.
- ramary 6y ago> I think realistically they are in the business of making O&G cheaper to extract through efficiencies that gain some climate merit (but very little). It's more like the limited climate benefit is an add-on to core business. Respectfully, this is not the business we are in, but I understand how our current messaging could convey it that way. That being said, there is a strong incentive to build products that both address climate pollution and reduce costs. It's a fine line and one that we think about constantly at the company.
- boringg 6y agoTrue my apologies for incorrect statement. The business you are in is IOT for O&G. Ensuring that flaring/leaks are monitored. That said that has some beneficial climate impacts but is mostly a worker safety issue and a regulatory infraction problem. A balancing act for sure (good products / reducing costs)!