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Hess to buy $750 million in carbon credits


Hess to buy $750 million in carbon credits03-12-2022 19:48
HarveyH55Profile picture★★★★★
(4522)
https://isp.netscape.com/pf/story/0001/20221203/ebf9d22774c2aa0431eee3338175ad4e?guce_referrer=aHR0cHM6Ly9pc3AubmV0c2NhcGUuY29tLz9fZ3VjX2NvbnNlbnRfc2tpcD0xNjcwMDg3NTcw&guce_referrer_sig=AQAAAAoEdxIql1RZajxPdZTu0pNJkLZvuT1tepQI4R60MrCdz631TohcCXIwNq_X8BxULgP3qzVvqE37nAW39scLG3ELkwb-jQMyrTs-7MsuxP6Tdj3VgArQepIrd0CcWY8wjTsitgmn7K-bnoi_gcKgEFku-Trz0axEgMzUZRPf91If&_guc_consent_skip=1670087684

Hess to buy $750 million in carbon credits from Guyana
12/03/2022 15:21 -0500
GEORGETOWN, Guyana (AP) — U.S.-owned Hess Corporation, a consortium partner in Guyana's offshore oil sector, has agreed to buy $750 million worth of carbon credits from the South American nation in the next decade as it works to ensure Guyana's almost intact Amazonian rainforests remain standing for decades to come, officials said Saturday.

Guyanese government officials and executives from New York-based Hess signed off on the agreement late Friday under the United Nations Reducing Emissions from Deforestation and Forest Degradation program (REDD).

This is the second major such deal the country has negotiated in the past decade. Back in 2009, Norway had signed off on a deal to provide $250 million in funding to help ensure the country's 18 million hectares of forest will remain intact.

Government says it will pursue efforts to secure additional partners in the carbon credit market as the country works to ensure minimal harvesting of its forest resources in a country the size of Britain, or the U.S. state of Idaho, with less than 1 million inhabitants.

"Guyana is one of the most heavily forested countries in the world. We admire the efforts that Guyana has undertaken for years to protect the country's forest, and the government's constant efforts to combat climate change and provide a strong model for other countries, other businesses and other governments," said John Hess, Chief Executive of Hess Corporation at the signing ceremony.

Meanwhile, Vice President Bharrat Jagdeo said about 30% of the $750 million will be set aside for developments in Indigenous Amerindian communities. There are nine such tribes in Guyana, accounting for about 10% of the population.

"I want to thank Hess Corporation for this agreement. It is clearly transformative and moves us closer to the objectives that we were working on," Jagdeo said.

Hess is a major 35% partner with ExxonMobil and CNOOC of China working in Guyana's lucrative offshore oil and gas sector in the wake of a major 2015 discovery near the border with Suriname. .


This is the crap that caught my attention, and got me interested in climate-change nonsense. When the environmentalist start talking about my paycheck, retirement savings, I started to get concerned. Usually, these idiots just talk a lot, spend other fools money, who willingly donated to the cause. Governments offer some feel-good, doesn't really do anything legislation. But when they start to talk carbon-credits, carbon-tax, carbon-enemas, it got financial scary. All that profit-theft is money out of everyone's pocket. Businesses, corporations don't really care, they just pass it on to consumers, and their shareholders. I don't recall the US passing any carbon-tax legislation, but Joe still has 2 years to make it happen to America. Consistent with all of Joe's country-destroying agenda...
04-12-2022 07:19
IBdaMannProfile picture★★★★★
(13337)
Hess to buy $750 million in carbon credits from Guyana 12/03/2022 15:21 -0500
GEORGETOWN, Guyana (AP) — U.S.-owned Hess Corporation, a consortium partner in Guyana's offshore oil sector, has agreed to buy $750 million worth of carbon credits from the South American nation in the next decade as it works to ensure Guyana's almost intact Amazonian rainforests remain standing for decades to come, officials said Saturday.

Brilliant. Greatly reducing atmospheric plant food will certainly ensure Amazonian rainforests remain standing for decades to come.

It's totally intuitive.
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