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Oil companies blame clean energy transitions due to market volatility | Oil

Leaders of the world’s largest oil company have used an industry gathered in Houston to launch an attack on the speed of the transition to clean energy.

Executives of oil companies such as Saudi Aramco, the world’s largest oil producer, and US oil giants Exxon Mobil Chevron publicly described the transition from clean energy to alternative energy as “serious flaws.” They called for fossil fuels to remain part of the energy mix for years to come, despite global efforts to respond to climate crises in an emergency.

Saudi Aramco CEO Amin Nacelle told the delegation of the World Oil Conference in Houston, Texas, “overnight” adaptation to cleaner fuels, causing uncontrollable economic inflation. He said it could cause it.

“I understand that it is difficult for some to publicly acknowledge that oil and gas play an essential and important role during and after the transition,” he said. “But admitting this reality is much easier than dealing with energy insecurity, rampant inflation and social instability, as prices are unbearably high and countries are beginning to unravel their Net Zero commitments.

“The world is facing a more chaotic energy transition than ever before, with a focus on highly unrealistic scenarios and assumptions about the future of energy.”

Anders Opedal, boss of Norwegian state-owned oil company Equinor, said:

Global oil and gas prices have skyrocketed in recent months since the first blockade of Covid-19, which weighed on the world’s economies in 2020.Of factories in some countries Encourage policy makers to accelerate their departure from volatile fossil fuels..

Amin said many “assume that the right transition strategy is in place.” He said: “No. Energy security, economic development, and affordability are clearly not getting enough attention.”

Saudi Arabia’s state-owned oil companies have made the greatest contribution to the carbon dioxide emissions that cause the global climate crisis of major companies. To the investigation by the guardianAfter producing about 60 million tons of CO2 Emissions from the 1960s to 2017.

Chevron has made the second largest corporate contribution to heating the world after producing 43.35 billion tonnes of CO.2 Emissions over the same period. At the same industry conference, the company’s CEO, Mike Wirth, said that oil and gas “continue to play a central role in meeting global energy demand and provide them in a low-carbon way. It plays an important role. Our products move the world. “

Darren Woods, CEO of ExxonMobil, the fourth largest corporate climate pollutant after Russia’s state-owned gas company Gazprom, said at the conference: To play an important role in meeting the needs of society. “

Due to the need to delay the transition to clean energy, oil company executives have begun to clash with energy industry experts, climate scientists and governments without rapidly phased out CO. rice field.2 Emissions from catastrophic levels of global heating within the next decade will be inevitable.

U.S. Deputy Chief Cabinet Secretary of Energy, David Turk, spoke at the same conference, arguing that action to address the climate crisis is urgent, taking the industry’s stance on a rapid transition to cleaner energy. I denied it. “There is no alternative to strengthening and fixing the threat to climate change,” he said.

The International Energy Agency, a global energy monitoring agency, told the industry last year: There was no new fossil fuel project compatible with the plan to prevent the climate crisis Before 2050.

A spokesperson for Greenpeace UK said: If anything, the recent rise in gas prices and the difficulties it has brought to so many households further proves that the sooner we leave society from fossil fuels, the better. “

Oil companies blame clean energy transitions due to market volatility | Oil

Source link Oil companies blame clean energy transitions due to market volatility | Oil

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