‘Life is like it is’: TotalEnergies CEO defends strategy despite calls to cut fossil fuel production
The chief executive of TotalEnergies defended the firm’s greenhouse gas emissions strategy, saying the company remains committed to oil and gas despite repeated warnings that increasing fossil fuel production will only make matters worse.
Speaking to CNBC’s Dan Murphy in Vienna, Austria on the sidelines of an OPEC conference, TotalEnergies CEO Patrick Pouyanne said Wednesday that the company had allocated nearly one-third of its capital expenditure to low-carbon technologies, with the remainder spent on oil and gas.
“We are in both pillars, and we will remain on both pillars [for a long time],” Pouyanne said.
“Today, our society requires oil and gas … Why we are together, it is 80% of fossil fuels. There is no way to think that overnight we can just eliminate all that and rely only on 10% of low-carbon energy. It will take decades to build a new system,” he added.
“So, we must do two things: To continue to produce the oil and gas, [while] of course being very strict on the emissions. The question is not fossil fuels, it is emissions, to lower the emissions.”
His comments come just over one month after French riot police fired tear gas at hundreds of climate activists trying to prevent the firm’s annual general meeting. Activist groups had pledged to try to stop the shareholder meeting from taking place to denounce the group’s fossil fuel expansion plans.
TotalEnergies CEO Patrick Pouyanne said the company had allocated nearly one-third of its capital expenditure to low-carbon technologies, with the remainder spent on oil and gas.
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The burning of fossil fuels, such as oil and gas, is the chief driver of the climate emergency. The world’s leading climate scientists, collated by the U.N.’s Intergovernmental Panel on Climate Change, have said tackling the crisis requires “immediate and deep emissions reductions across all sectors.”
The IPCC’s message, which was approved by governments across the globe, underscored the need for a substantial reduction in fossil fuel use to curb global heating, now at 1.1 degrees Celsius above pre-industrial levels.
U.N. chief Antonio Guterres, meanwhile, has warned that investing in new fossil fuel infrastructure is “moral and economic madness” and such investments will come to be seen as “a blot on the landscape and a blight on investment portfolios.”
‘Huge challenge’
TotalEnergies’ Pouyanne acknowledged criticism from climate campaigners that the company has not moved quickly enough to accelerate the energy transition, but said the “huge challenge” was to reconcile the security of supply with affordability and sustainability.
“If we don’t invest enough, the [oil] price will not be $75 per barrel, it will be $150 or $200 and all consumers will be super unhappy and our life will be a nightmare,” Pouyanne said.
“So … producing with strict new standards demonstrating that we can produce oil and gas in a very smart way with lower emissions. At the same, we invest in the new low-carbon energy, and we do it in a large way.”
He described the spike in energy prices in 2022 as a “catastrophe” following Russia’s full-scale invasion of Ukraine.
“So, let’s keep this balanced. It’s difficult. I know the scientists told us you should forget [fossil fuels] — but life is like it is. We must make that transition at the pace which can be accepted by the society. That’s also one condition of the success.”
Oil industry should set carbon targets at COP28
The protest at TotalEnergies’ AGM on May 26 came at a time of palpable frustration among climate activists during the proxy voting season, with demonstrations also taking place at British oil majors BP and Shell after an extraordinary run of record profits across the industry.
Investors at TotalEnergies’ shareholder meeting ultimately rejected an activist resolution calling on the company to align its climate targets with the landmark Paris Agreement and commit to absolute carbon emission cuts by 2030.
The resolution, filed by Dutch actvist shareholder group Follow This and 17 institutional investors with 1.1 trillion euros ($1.2 trillion) under management, received 30% of the vote, up from 17% the last time a similar vote was held in 2020.
Protesters outside the Salle Pleyel venue in Paris could be heard chanting “all we want is to knock down Total” and “one, two, three degrees, we have Total to thank.”
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Asked how the company can seek to convince skeptical observers following a shareholder rebellion over TotalEnergies’ greenhouse gas emissions strategy, Pouyanne replied: “I didn’t see a shareholder revolt. No, I saw an NGO revolt, which is not the same.”
“We have to respect the ideas of everybody,” Pouyanne said. “The point is that we have a strategy which is exposed to our shareholders — by the way, if I am listening to most of my shareholders, I think I would do more oil and gas and maybe less green. So, we try to find the right balance. Maybe we don’t satisfy everybody.”
TotalEnergies, which aims to become a net zero company by 2050, has pledged to reduce emissions from all of its products by 40% in 2030.
Pouyanne called on the world’s oil and gas companies to set targets to reduce emissions from methane, a potent greenhouse gas, at the COP28 climate summit — which will be held in the United Arab Emirates later in the year.
He also urged the oil and gas industry to adopt targets to cut greenhouse gas emissions from their own operations, known as Scope 1 and Scope 2 emissions, by 2030 at the U.N. summit. The vast majority of emissions, however, are generated by customers’ use of an oil major’s oil and gas, known as Scope 3 emissions.
Ava Community Energy just rolled out a new program in California that pays EV and plug-in hybrid drivers for charging their cars when electricity on the grid is cleaner and cheaper.
The new Ava SmartHome Charging program, launched in partnership with home energy analytics platform Optiwatt, offers up to $100 in incentives in the first year. And because the program helps shift home charging to lower-cost hours, Ava says drivers could save around $140 a year on their energy bills.
EV and PHEV owners who are Ava customers can download the Optiwatt app for free, connect their vehicle, and let the app handle the rest. The app uses an algorithm to automatically schedule charging when demand is low and more renewable energy is available, typically overnight or during off-peak hours.
“Ava is on a mission to provide 100% clean energy to our customers by 2030,” said CEO Howard Chang. “This new program helps us get there by giving people an easy way to charge on more renewable energy while simultaneously saving money.”
Drivers who enroll get a $75 bonus for joining, and can earn an extra $25 per year if they stay enrolled. Optiwatt shifts charging to off-peak times, and it takes into account the customer’s individual schedules and preferences.
Casey Donahue, who founded Optiwatt, says this program is a win for everyone. “We can move a lot of energy use to cleaner, more affordable times by using smart algorithms and the growing EV base,” he said. “That benefits every Ava customer.”
The program is available to most EVs and plug-in hybrids. All it takes is signing up through the Optiwatt app (iOS, Android, or web) and completing a quick verification process. Savings and rewards start right away.
The Oakland-based not-for-profit public power provider aims to enroll at least 5,000 vehicles by the end of 2025. The company says this program is the first step in a broader virtual power plant (VPP) strategy. It’s powered by Lunar Energy’s Distributed Energy Resource Management System (DERMS) platform, Gridshare, which will help Ava coordinate energy from EVs, home batteries, and more.
Ava Community Energy was founded in 2018 and now serves 2 million people in Alameda County, California, and the cities of Tracy, Stockton, and Lathrop.
Read more: California now has nearly 50% more EV chargers than gas nozzles
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Environment
Jeep is teasing the new Grand Cherokee, but where’s the EV version of its best-selling SUV?
The Grand Cherokee is due for a refresh, and we just got our first look at it. Jeep claimed “the next chapter in the story of America’s best-selling full-size SUV begins” after releasing the first official images of the updated model. When will we see the Jeep Grand Cherokee as an EV?
2026 Jeep Grand Cherokee first look
Days after revealing the new Compass, Jeep is teasing another refreshed model, its best-selling Grand Cherokee.
Although it was the best-selling full-size SUV in the US last year, the Grand Cherokee is due for an update. The latest model was launched in 2021, but Jeep added a two-row version in 2022.
It remained Jeep’s top seller in the US last year with over 216,000 models sold, but sales were down 12% compared to 2023. It was also one of the best-selling plug-in hybrid (PHEV) vehicles, with over 27,500 4xe models
Jeep is giving us our first official look at the updated 2026 Grand Cherokee, inside and out. The first image previews the front end, which features new LED headlights and a revamped seven-slot grille, similar to the new Compass.
The interior is restyled with a simplified setup and other minor infotainment and climate control display adjustments. The preview also shows an added passenger screen.
When will Jeep launch the Grand Cherokee EV?
Jeep will continue to assemble the updated SUV in Detroit. The new 2026 Jeep Grand Cherokee will be available as a two-row, three-row L, and a plug-in hybrid 4xe, but when will we see an EV version? The outgoing 4xe model is already one of the top three selling PHEVs in the US, so a fully electric version would make sense.
As part of its 2023 agreement with the UAW, Jeep revealed plans to launch the Grand Cherokee EV in 2027. It was scheduled to be built at the Detroit Assembly Complex, but plans have likely changed since then.
Jeep’s new Compass will be available as an EV, but only in Europe. At least for now. Stellantis halted operations at its Brampton Assembly plant earlier this year, where the Compass is built, as it “reassesses its product strategy in North America.”
For those in the US, Jeep currently offers one EV. The Wagoneer S (pictured on the left above), Jeep’s first global electric SUV, starts at $65,200 and has a range of up to 294 miles.
Later this year, Jeep is expected to launch the Recon EV (pictured on the right above), a rugged electric SUV like a Wrangler.
Jeep is currently offering employee pricing plus an extra $1,500 cash allowance on top of the $7,500 EV tax credit on 2025 Wagoneer S models. If you’re looking to snag some savings, you can use our link to find Jeep Wagoneer S models in your area today.
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Can Kia’s first electric sedan live up to the hype? After launching the EV4 in Korea, we are finally seeing it in action. A new test drive of the EV4 gives us a closer look at what to expect as Kia prepares to take it global. Here’s how it went down.
Kia EV4 test drive: The good, the bad, and the ugly
Kia claims the EV4 will “set a new standard in electric vehicles” with long-range capabilities, fast charging, and a sleek new design.
The electric sedan features a unique, almost sports-car-like profile with a long-tail silhouette and added roof spoiler.
Kia claims it is “the new look of a sedan fit for the era of electrification.” Despite its four-door design, the company is calling it a new type of sedan.
The design is not only eye-catching, but it’s also super efficient. With a drag coefficient of just 0.23, the EV4 is Kia’s most aerodynamic vehicle so far, enabling maximum driving range and efficiency.
Kia opened EV4 orders in South Korea in March, starting at about $29,000 (41.92 million won). It’s available with two battery options: 58.2 kWh and 81.4 kWh. The entry-level “Standard Air” model, powered by the 58.2 kWh battery, is rated with up to 237 miles of driving range.
The “Long-Range Air” variant starts at 46.29 million won ($31,800) and has a driving range of up to 331 miles (533 km) in Korea.
With charging speeds of up to 350 kW, the EV4 can charge from 10% to 80% in around 29 minutes. The long-range battery will take about 31 minutes.
The interior boasts Kia’s latest ccNC infotainment system with a 30″ Ultra-wide Panoramic Display. The setup includes dual 12.3″ driver displays, navigation screens, and a 5″ air conditioning panel.
With deliveries kicking off, we are seeing some of the first test drives come out. A review from HealerTV gives us a better idea of what it’s like to drive the EV4 in person.
Sitting next to Kia’s first pickup, the Tasman, the reviewer mentions the EV4 feels “particularly newer.” The test drive starts around the city with a ride quality similar to that of the K5, if not even better.
As you can see from the camera shaking, the ride feels “a bit uncomfortable” on rough roads. However, on normal surfaces and speed bumps, Kia’s electric sedan “feels neither too soft nor too hard,” just normal. The reviewer calls the EV4’s overall ride quality “quite ordinary” with “nothing particularly special about it.”
When accelerating, the electric car was smooth in the beginning but felt “a little lacking in later stages.” Overall, it should be enough for everyday use.
One of the biggest issues was that the rear window appeared too low. The rear brake lights also stick out, making it hard to see clearly through the rearview.
Keep in mind that the test drive was the Korean-spec EV4. Kia will launch the EV4 in Europe later this year and in the US in early 2026.
In the US, the EV4 will include a built-in NACS port for charging at Tesla Superchargers and a driving range of up to 330 (EPA-est) miles. Prices will be revealed closer to launch, but the EV4 is expected to start at around $35,000 to $40,000.
Would you buy Kia’s electric sedan for around $35,000? Or would you rather have the Tesla Model 3, which starts at $42,490 in the US and has up to 363 miles of range? Let us know in the comments.
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