CERA 2019: Global Warming Very Important (Harrumph Harrumph) Decades Of Oil & Gas Demand Remain

[hatrack]

EDIT

The "Fuels of the Future" panel featured three oil and gas executives who, despite Wetselaar's talk of change, spoke mostly about a fuel already used widely today: natural gas.

The next day, billed as "oil day," IHS Markit's Darryl Rogers opened a panel called "Wellhead to Water" by saying he and his colleagues have continually revised upward their projections for growth in Texas's booming oil and gas fields. The week before the conference, ExxonMobil and Chevron had announced that they plan to expand production from one Texas field to reach 1.9 million barrels per day by 2024—that's about as much oil as the entire state was producing in 2012. The only limit, Rogers said, is cash. "Is there some downside risk," he asked. "Possibly, it's just hard to see." The panel, which included executives from a leading pipeline company and the Port of Corpus Christi, covered the torrent of infrastructure development underway in Texas to bring surging oil production to the Gulf Coast for export.

Another panel, on the fracking revolution, featured executives from some of the smaller, independent oil companies that pioneered the technique, including Encana, Marathon Oil and Hunt Oil. They said the growth was just beginning and espoused the benefits it had brought by providing cheap energy. Again, Doug Suttles, chief executive of Encana, said the only limit they face is cash to fund their expansion. (Ed. - Uh, yeah . . . )

Mike Sommers, chief executive of the American Petroleum Institute, sat on a panel about sustainability in the oil industry and called the fracking revolution the most consequential environmental development of the century, because it allowed gas to displace coal. In 2017, his group supported the Trump administration's rollback of methane regulations, and API supports legislation that would end tax credits for electric vehicles.

EDIT

https://insideclimatenews.org/news/15032019/energy-oil-gas-industry-climate-change-ceraweek-shell-bp?utm_source=twitter&utm_medium=social

[Mickju]

1. There really is no hope, is there?