HOUSTON : Top energy executives this week urged a more cautious transition of energy policy away from oil and gas, but a U.S. Energy Department official said the industry has a moral obligation to address climate change and the economic opportunity it represents.
"The volatility in commodity prices and the impact on business and people," said Equinor ASA Chief Executive Anders Opedal,"illustrates the risks we face in an imbalanced transition." Consumers in Asia and Europe have been dealing with shortages of natural gas, coal and power due to production declines that pushed prices to multi-year highs. In the United States, the Biden administration has criticized oil and gas companies, saying they put profits over consumers.
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