By: Inspenet, December 7, 2021
Oil company executives attending the 23rd World Petroleum Congress, taking place this week in Houston, said the global need for fossil fuels persists, despite pressure for clean energy.
The directors spoke within the framework of the world conference dedicated to future technologies and low carbon emission strategies. Global demand for fossil fuels has rebounded in 2021.
Leaders of the renowned international oil companies Exxon Mobil, Saudi Aramco, Halliburton and other corporations that promoted the need to supply oil and gas to the world, even though there is the current transition to cleaner fuels, participate in this summit.
Some executives argued that as demand has soared, economies in Europe and Asia are grappling with shortages of power and heating supplies, forcing them to limit consumption while costs rise. Additionally, many oil producing countries have been unable to meet their production targets, they added.
Another point of view was that large global companies, especially European ones, limit exploration and production in an attempt to move to renewable energy development, while governments promote the reduction of carbon emissions to cope with rising temperatures.
From another perspective, the CEO of Norway’s Equinor said that energy companies have a responsibility to reduce emissions and supply energy.
Analysts agreed that while oil and other fossil fuels are still needed for a long time, it is imperative to make rapid progress in reducing greenhouse gases and particularly in the transition to renewable energy.
Source: https://www.prensa-latina.cu/2021/12/06/afirman-que-combustibles-fosiles-son-aun-necesarios
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