$FTXP Embracing the Energy Transition to Stay Competitive in the New Normal
Current data indicates global demand for oil and natural gas will continue beyond 2050 albeit a number of carbon-emissions reduction targets and mandates have been developed globally.
Key U.S. states like California and New York have developed stated emissions reductions targets to fall in line with the Paris Agreement by 2050. The Biden administration has also once again signed the Paris Agreement on behalf of the United States and federal emissions reductions targets are currently being developed.
“The Company aims to capitalize on the evolving landscape of energy policy and take part of the strong growth outlook for the future of zero-carbon emission projects and clean energy tech,” said Kevin J. Sylla, the Company’s Executive Chairman. “New Energy Ventures will focus on transformative energy sources and disruptive oilfield clean technologies. We are not abandoning our core principles but instead expanding our horizons and building a greater platform and robust foundation to create shareholder value,” continued Sylla.