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.
all promoting the need to deliver oil and gas globally even as the world transitions to cleaner fuels.
Large global majors, especially those based in Europe, are limiting exploration and production in an attempt to shift to renewable power development and as governments promote efforts to cut carbon emissions to deal with rising worldwide temperatures., said energy companies have a responsibility to bring down emissions and provide energy. "We will need oil and gas for many years to come but with reduced emissions," he said.
U.S. officials took the opportunity to talk about President Joe Biden's clean energy agenda while insisting on the need to address high fuel prices for consumers as well. The Biden administration has had a strained relationship with the fossil fuel industry in its first year in office. He also said Washington will not "stand in the way" of companies willing to increase domestic oil production as the industry tries to fully recover.is investing $1 billion worldwide to reduce emissions at refineries, David Lawler, head of BP America and CEO of BPX unit said at the conference.
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