HOUSTON, Dec 7 — A global energy conference devoted to future technologies and low-carbon strategies kicked off in Houston on Monday with top executives from energy companies affirming the need for more oil for decades to come.
“The world is facing an even more chaotic energy transition,” said Saudi Aramco CEO Amin Nasser. “They assume that the right transition strategy is in place. It’s not. Energy security, economic development and affordability are clearly not receiving enough attention. Until they are, and we clear the gaps in the transition strategy, the chaos will only intensify.”
Exxon disclosed on Monday plans to achieve net zero greenhouse gas emissions from operated assets in the US Permian basin by 2030, as part of a plan to reduce upstream greenhouse gas emissions intensity by 40 per cent to 50 per cent by 2030, compared with 2016 levels. Oil majors need to “step on to the plate” and be part of the climate solution, said David Turk, deputy US Secretary of Energy. “First movers will have significant advantages.”
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