Oil Industry Execs Claim , Rapid Transition to Clean Energy , Has Dire Consequences.
'The Guardian' reports that oil industry leaders
have blamed the rapid transition
to clean energy for recent market volatility. .
At an industry gathering in Houston,
the world's largest oil companies claimed
a poorly-managed transition could lead to , “insecurity, rampant inflation and social unrest.”.
Saudi Aramco, the largest global oil producer,
ExxonMobil and Chevron all reportedly called
the current shift toward clean energy , "deeply flawed.".
Amin Nasser, Saudi Aramco's CEO, told the World
Petroleum Congress in Houston, Texas, that a rapid
shift to cleaner fuels could lead to uncontrolled inflation. .
I understand that publicly
admitting that oil and gas
will play an essential and
significant role during the
transition and beyond
will be hard for some. , Amin Nasser, Saudi Aramco's CEO, via 'The Guardian'.
But admitting this reality will
be far easier than dealing with
energy insecurity, rampant inflation
and social unrest as the prices
become intolerably high, and seeing
net-zero commitments by
countries start to unravel, Amin Nasser, Saudi Aramco's CEO, via 'The Guardian'.
The world is facing an ever more
chaotic energy transition centered
on highly unrealistic scenarios
and assumptions about
the future of energy, Amin Nasser, Saudi Aramco's CEO, via 'The Guardian'.
'The Guardian' reports that Saudi Aramco
has the highest carbon dioxide emissions
of any company, producing almost 60 million tons
of CO2 emissions between the 1960s and 2017. .
Chevron reportedly comes in second
with over 43 million tons of CO2
produced over the same period. .
Chevron CEO Mike Wirth told the industry conference that oil continues , "to play a central role in meeting the world’s energy needs,
and we play an essential role in delivering them in
a lower carbon way. Our products make the world run.”.
Chevron CEO Mike Wirth told the industry conference that oil continues , "to play a central role in meeting the world’s energy needs,
and we play an essential role in delivering them in
a lower carbon way. Our products make the world run.”
