Carbon capital: the lexicon and allegories of US hydrocarbon finance

Sean Field

doi:10.1080/03085147.2022.2030606

Carbon capital: the lexicon and allegories of US hydrocarbon finance

Sean Field^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

Drawing on ethnographic fieldwork with energy financiers in Houston, Texas, this paper explores how experts use a lexicon of models and metrics to conceptualize and construct allegories about future hydrocarbon projects and companies. I show that allegorical narratives built with this lexicon advance a kind of energy ethics – distinguishing what is good and advocating for particular hydrocarbon futures. As the energy industry pivots toward renewables, I conclude that these metrics, models and allegories are coming to bear on new forms of extraction. This paper contributes to a better understanding of the financial and managerial processes on which extractive energy practices are imagined, valued and decided.

Original language	English
Pages (from-to)	235-258
Journal	Economy and Society
Volume	51
Issue number	2
Early online date	17 Mar 2022
DOIs	https://doi.org/10.1080/03085147.2022.2030606
Publication status	Published - 2022

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy
SDG 15 Life on Land

Keywords

Hydrocarbons
Extraction
Energy
Ethics
Financialization
Economization

Access to Document

10.1080/03085147.2022.2030606Licence: CC BY

Field_2022_ES_CarbonCaptial_CC
Copyright © 2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Final published version, 850 KBLicence: CC BY

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1 Finished

ENERGY ETHICS: Energy Ethics
High, M. (PI), Destree, P. (Researcher) & Field, S. (Researcher)
European Research Council
1/07/17 → 30/06/22
Project: Standard

1 Book

Carbon capital: Climate change and the ethics of oil investing
Field, S., 1 Aug 2025, New York, NY: NYU Press. 207 p.
Research output: Book/Report › Book

Cite this

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title = "Carbon capital: the lexicon and allegories of US hydrocarbon finance",

abstract = "Drawing on ethnographic fieldwork with energy financiers in Houston, Texas, this paper explores how experts use a lexicon of models and metrics to conceptualize and construct allegories about future hydrocarbon projects and companies. I show that allegorical narratives built with this lexicon advance a kind of energy ethics {\textendash} distinguishing what is good and advocating for particular hydrocarbon futures. As the energy industry pivots toward renewables, I conclude that these metrics, models and allegories are coming to bear on new forms of extraction. This paper contributes to a better understanding of the financial and managerial processes on which extractive energy practices are imagined, valued and decided.",

keywords = "Hydrocarbons, Extraction, Energy, Ethics, Financialization, Economization",

author = "Sean Field",

note = "This project has received funding from the European Research Council (ERC) under the European Union{\textquoteright}s Horizon 2020 research and innovation programme, grant agreement No. 715146.",

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language = "English",

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N1 - This project has received funding from the European Research Council (ERC) under the European Union’s Horizon 2020 research and innovation programme, grant agreement No. 715146.

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KW - Hydrocarbons

KW - Extraction

KW - Energy

KW - Ethics

KW - Financialization

KW - Economization

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IS - 2

ER -

Carbon capital: the lexicon and allegories of US hydrocarbon finance

Abstract

UN SDGs

Keywords

Access to Document

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Projects

ENERGY ETHICS: Energy Ethics

Research output

Carbon capital: Climate change and the ethics of oil investing

Cite this