George Hay
@gfhay
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Reuters Breakingviews Associate Editor looking at the energy transition, commodities and the Middle East. Views = mine.
Joined October 2010
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George Hay Retweeted
NEW: Greensill Capital’s administrator has failed to verify invoices underpinning loans to Sanjeev Gupta, after companies listed on the documents denied that they had ever done business with the metals magnate.
by @cynthiao and me https://t.co/IGxyxFE1bo?
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According to @TheIFS, Chesney Hawkes was number 1 the last time homes were valued for council tax in 1991. Perhaps he should release some new material https://t.co/LIlPtRLwWY
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All future VW statements warrant a "Crying Wolfsburg" discount. Smh. https://t.co/mKXkKPni1v
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Obliveroo https://t.co/tKcbL5qDVE
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Maybe Shell should base its executive bonuses on how much carbon it's removing from the air, given that its 2050 net zero ambition kind of hinges on it https://t.co/YUjn9oz6gG
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"Overall, 83 of the focus companies (52 % of the total) assessed have announced an ambition to achieve net-zero by 2050 or sooner. However, roughly half of these commitments (44) do not cover the full scope of the companies’ most material emissions." 😐 https://t.co/pf4Mgev1hz
JUST RELEASED: #ClimateAction100+ issues its first-ever net zero company benchmark of the world’s largest corporate #GHG emitters
https://t.co/5IT5ESY9kl https://t.co/EREyra81dB
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George Hay Retweeted
BIG OIL & WALL STREET: Goldman Sachs has nominated Jessica Uhl, the CFO of Royal Dutch Shell, to its board. If elected (most likely), she will be the top Big Oil executive inside Wall Street, three months after Lee Raymond resigned as a JPMorgan director https://t.co/p2A05f5ORf
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Cool story by @dmitryZ_reuters: BP made $1.7bn in Q2 last year just from buying oil at dirt-cheap levels, storing it and selling it. (Glencore made $1.3bn in H1 via similar trades, according to new @JavierBlas and @jfarchy book) https://t.co/evQtTMkRPs
BP's trading arm made nearly $4 billion in 2020, according to a copy of an internal presentation seen by Reuters, almost equalling the record trading profit in 2019 despite the collapse in oil demand caused by the pandemic
https://t.co/EuiREDbQIH
#OOTT @bp_plc @dmitryZ_reuters https://t.co/wLI1K89Vv7
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George Hay Retweeted
For anybody who remembers the 2007-8 financial crisis and its political aftermath in the UK, this recommendation from a government-sponsored review of financial regulation is just extraordinary.
https://t.co/7bcu6ErCe8 https://t.co/HhqBEiMt0p
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George Hay Retweeted
Just in case anyone thought Mark Carney/Brookfield's "net zero on an avoided emissions basis" idea held any water, I asked the UK's official climate experts @theCCCuk about the concept.
They said: "We are clear that the UK’s net zero target cannot be met by 'avoided emissions'." https://t.co/nn0UBPnD1K
COP26: Mark Carney accused of ‘greenwashing’ ahead of UK climate summit
https://t.co/83qLTCHf8L
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Biden’s likely action over #Khashoggi is a step-up relative to Trump’s Nov 2018 stance, which was effectively ‘wevs’. But similar upshot - US/Saudi relations too important to rock the boat to the degree of sanctioning a Crown Prince: https://t.co/14d5URDf2l
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Amundi the latest European asset manager to big up Science Based Targets and flaunt its voting record on climate issues, both areas where BlackRock could do a bit better https://t.co/3JkiTJx5yk
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George Hay Retweeted
“Energy bills: getting the balance right.” Good piece from @ECIU_UK explains how added costs of policy are £140 on electricity but only £11 on gas for the typical domestic customer. https://t.co/DpZauYhMUw
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"A defensive posture posing as a progressive one". Interesting summary of the long-term scenarios underpinning Shell's sedate approach to the energy transition by @KetanJ0 https://t.co/kQvefeTrbz
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George Hay Retweeted
Quintilian, Julius Caesar, the machine power of Aled's ipad and the dispute of Handforth parish council. Starring Jackie Weaver Kennedy: https://t.co/rgXcmISlIr
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Shell's plan to square the circle between continued oil production and decarbonisation involves really quite a lot of carbon capture and offsetting: https://t.co/Wi6MwYGXfd https://t.co/L7Lk1kDdGz
On @Breakingviews: While BP’s strategy envisages major reductions in oil output and big pivots to renewables, Shell has set out a much more business-as-usual plan. Which one prevails will say something about the preoccupations of shareholders, says @gfhay https://t.co/6Pgp1q45jm
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George Hay Retweeted
Nice interactive calculator here for the different deal structures that could combine Exxon Mobil and Chevron. Nice bit of fantasy M&A :) From @TheRealLSL and @ReutersFlasseur @Breakingviews
https://t.co/A5wZ5n786T https://t.co/MvMks7NWJy
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George Hay Retweeted
This is big news.
Shell has just, for the first time, published a 1.5C scenario.
"Sky 1.5 is a highly ambitious pathway that is still technically possible but extremely challenging."
https://t.co/kO7GQbh3fv https://t.co/Q7qplYKkNe
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