Episode summary
Why Gas Flares Keep Burning Despite Big Oil’s 2030 Pledges | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Ben Elgin, Will Evans
Summary
Oil companies have spent more than a decade promising to end routine flaring, the practice of burning off gas because capturing or reinjecting it is seen as too costly. The reporters argued that those pledges have not matched reality: flaring remains widespread, produces major emissions, and creates pollution and nuisance for nearby residents in places from West Texas to the Niger Delta, Patagonia and Oman. They said the scale is large enough that the flames burn gas equivalent to about half of Europe’s annual consumption each year.
The investigation focused on how the World Bank’s Zero Routine Flaring initiative can be interpreted loosely. The guests said companies can keep flaring frequently and still avoid the “routine” label, and that ownership restructurings can move emissions off a company’s environmental ledger even when the same firms still profit from the assets. They also said internal documents showed the World Bank telling companies they only need to eliminate routine flaring if it is economically viable, leaving the standard largely up to corporate interpretation.
The human cost was central to the report. Residents near a flare outside Odessa, Texas described odors, sleepless nights, rattling homes and worries about health and property values, while local complaints to regulators often produced little relief. The guests said stronger regulation is the clearest fix, and pointed to Kazakhstan as evidence that enforceable limits can sharply reduce flaring.
Key takeaways
- The guests said routine flaring remains a large source of pollution, with flames burning gas equivalent to about half of Europe’s annual gas consumption each year.
- The World Bank initiative can be gamed because companies can keep flaring often yet avoid being treated as “routine” under the program’s definition.
- Internal documents reportedly showed the World Bank telling oil companies they only need to cut routine flaring if it is economically viable.
- Residents near flares in West Texas and elsewhere said the sites bring odors, noise, sleeplessness and health fears, while regulators often do little.
- The guests argued stronger government rules are needed, and cited Kazakhstan as a case where enforceable limits cut flaring by about 90% in a decade.
Notable quotes
“For more than a decade, oil companies have pledged to eventually eliminate what the industry terms routine flaring”
“it's like 1% of man-made heat trapping emissions. It's a big source of pollution for nearby communities”
“you can have flares going on all the time frequently yet still be considered non-rine”
How the episode opens
Bloomberg Audio Studios podcasts radio news.
You're listening to Bloomberg Business Week with Carol Masser and Tim Stenc on Bloomberg Radio. For more than a decade, oil companies have pledged to eventually eliminate what the industry terms routine flaring. That's burning gas because producers consider it too costly or difficult to capture, sell, or reinject underground.
And yet we've seen Exxon accidental and diamond dip back um among those touting efforts to end that routine gas flaring. But as we said their flames keep spewing pollution around the world. This story that we're going to get into was reported in partnership with the Examination.
It's a nonprofit newsroom specializing in global health reporting. And the reporters on the story, Bloomberg's own Ben Elgen. He's investigative reporter here at Bloomberg News.
He's there in our San Francisco bureau. Ben, good to have you here. Will also good to have you here.
Will Evans, a senior reporter at the information uh out there in San Francisco as well. Gentlemen, good to have you here. Um Ben and Will and Ben, why don't you kick it off for us?
Tell us what you guys set out to do.
Yeah, well, we were very intrigued by the fact that, you know, there's tens of thousands of these flames at oil sites around the world. Um they're a huge source of of emissions. I mean, it's like 1% of man-made heat trapping emissions.
It's a big source of pollution for nearby communities. It's a big waste of resources. I mean, each year these flames burn about half of Europe's annual gas consumption or the equivalent thereof.
And so, um, you know, for decades, the industry has been talking about fixing this. And, uh, the numbers are going the other way. It's going the wrong direction.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- gas flaring
- oil pollution
- esg commitments
- world bank zero routine flaring
- environmental health concerns
Companies and tickers mentioned
- XOM
- OXY
- ExxonMobil
- Occidental Petroleum
- World Bank
- Bloomberg News
- The Examination
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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