Good morning, here's what the Oilman has for you today:

• Oil Production Is Now Human Rights Violation

• BP Chief Calls for More Oil Gas Investments

• Upcoming Oil and Gas Events

• Tweet of the Day

Oil Production Is Now Human Rights Violation

Saudi Aramco may be violating human rights legislation by expanding its oil output.

The message was sent to the Saudi giant in a letter penned by a group of UN human rights experts.

They’re really out to get you

The letter comes after a climate NGO filed a legal complaint against Aramco in 2021.

ClientEarth accused the Saudi company of the biggest-ever breach of human rights laws by a business.

The biggest climate-related breach that is.

And that’s how climate considerations enter yet another area of our lives and civilization: human rights.

“Businesses should avoid infringing on human rights by taking proactive steps to identify, prevent, mitigate and address adverse impacts with which they are involved, including impacts resulting from climate change,” the letter said.

Now, anyone could blame the oil industry for anything they like.

And they’re already doing it.

But there is a bigger problem

The FT reports that the UN experts didn’t just send a letter to Aramco.

They also wrote to Aramco’s banks.

And they told these banks that they, too, could be implicated in climate change human rights violation…

Unless they stop Aramco from expanding its oil production, it seems.

“The alleged involvement of financial institutions in the financing of Saudi Aramco’s activities could be in violation of international human rights law and standards,” the UN experts wrote.

Banks are already a huge target for climate change-related pressure from NGOs.

Even government agencies are busy pressuring banks not to lend to the oil and gas industry.

It seems no form of pressure is out of the question. Anything to kill oil and gas.

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BP Chief Calls for More Oil Gas Investments

The chief executive of BP, Bernard Looney, has called for more investments in oil and gas.

This, Looney says, will help avoid sharp jumps in prices.

Securing energy supply now while decarbonizing

"We need to do both. We need to invest in today's energy system responsibly and, at the same time, we must invest in accelerating energy transition," Looney said.

Of course, he’ll talk about the transition; he wouldn’t dare not to.

But he’s not the only one calling for more investments in oil and gas.

Because he wasn’t the only one who remembers what happened last year.

After all, that was the year when BP and everyone in oil and gas made record profits.

Because of price spikes.

And those spikes were the result of fears of shortages.

Despite the transition push.

An orderly transition

Looney didn’t just dare call for more spending on oil and gas.

He also dared suggest that the transition so far has been disorderly…

This has led to an increase in emissions.

Yep. Global emissions have risen since 2015, just like investments in transition stuff.

And very much unlike investments in oil and gas. These have been on the decline.

Clearly, you reap what you sow. When you sow energy deficits, you reap higher prices.

Regardless of how many wind and solar farms you build in the meantime.

Around the Global Patch

🇰🇵 North Koreans turn to solar amid power shortages.
🇨🇳 China explores space partnership with Gulf Nations.
🇷🇺 Ukraine conflict's impact on Russia's mining heartland.

Upcoming Oil & Gas Events

• August 28-September 1: International Meeting for Applied Geoscience and Energy Houston, TX

• August 31: ND Oil PAC Golf Tournament Bully Pulpit Golf Course, Medora, ND

• September 7: Petroleum Alliance of Oklahoma Dove Hunt, Devol, OK

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