Oil and natural gas companies can play a vital role in achieving President Biden’s ambitious climate change goals if they choose to embrace it.

President Biden

In remarks delivered at CERAweek by IHS Markit, which was held in early March, Department of Energy (DOE) Secretary Jennifer Granholm and Special Presidential Envoy for Climate John Kerry said fossil fuel companies should leverage their existing infrastructure and expertise to help decarbonize the energy sector through new technologies. 

These include carbon capture, utilization and storage (CCUS), along with green and blue hydrogen, all of which will be vital to meeting Biden’s goals of a carbon emissions free power sector by 2035 and a carbon neutral economy by 2050.

Blue hydrogen refers to hydrogen created with fossil fuels,...