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Fossil Fuel Industry Leadership Intends To Stay As “Oily” As Possible Until Forced To Change
In interviews and speeches at CERAWeek last week the Apollo 13 phrase, "Houston, we have a problem," was used to describe the current state of the fossil fuel industry in light of climate change, supply-chain disruptions, and the continuing Russian-Ukraine war. Mike Wirth, CEO of Chevron, was the first to speak at the conference. He set the tone describing the transition to a low-carbon future as "one of the greatest challenges of all time," and warned that what lies ahead may be "chaotic" and "painful." One industry executive stated, "Our strategy is to stay as oily as we can for as long as we can."
Fossil Fuel Industry Leadership Intends To Stay As “Oily” As Possible Until Forced To Change
The fossil fuel industry sees a "chaotic" and "painful" future in curbing their production before proven energy alternatives are in place. At CERAWeek last week one executive called for the industry to stay as "oily" as possible for the foreseeable future.
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