Heating Oil Industry Plans to Eliminate Fossil Energy By 2050
WASHINGTON — At a national summit held last week, representatives from the National Energy & Fuels Institute (NEFI) and global management consulting firm Kearney announced a plan for the heating oil industry to eliminate fossil energy use by 2050.
The announcement builds upon a pledge made last year when more than 300 heating oil industry professionals committed to achieve 15% carbon reductions by 2023, 40% reductions by 2030, and net-zero by 2050. To reach these ambitious goals, the industry now plans to deliver a blend of 20% biofuel by 2023, 50% by 2030, and 100% renewable fuel by 2050, thereby completely eliminating fossil energy from its primary product.