Even as society evolves toward greener types of energy, the world will continue to rely on fossil fuels for years to come, the chief executives of two of the largest US oil firms said on Monday.
Remarks by ExxonMobil’s Darren Woods and Chevron’s Mike Wirth came on the first day of the 23rd World Petroleum Congress in Houston, Texas.
'The growth of emissions-free energy is good for society and an objective our company supports,' Houston Chronicle quoted Woods as saying.
Under even the most critical scenarios, including net zero pathways, 'oil and natural gas will continue to play a significant role in meeting society’s needs,' Woods said.
Wirth also echoed the importance of oil and gas and said oil companies would play a central role in delivering energy in a lower carbon way.
'Our products make the world run, and we can make it run even better,' he added.
Woods warned against a disruptive energy shift, noting that many people take fossil fuels for granted while forgetting that billions of people in developing countries lack access to affordable energy.
'As history has shown on many occasions, the best of intentions poorly executed can do more harm than good,' Woods said.
'It's important to keep this in mind as we deal with climate change. Calm heads and a thoughtful approach are needed. While the fight to mitigate the risk of climate change is vitally important, so is the work to meet the growing needs of people around the world,' he added.
By Sibel Morrow