il and gas will remain the dominant fuel source for decades to come, the industry’s top executives declared on Wednesday, making their case not to be under valued as governments seek to reduce fossil fuels to address climate worries.
Executives offered a full-throated defense of the industry, describing government opposition to new projects as harming society and using this week’s World Petroleum Congress in Houston to rebut the industry’s harsh portrayal at the UN COP26 climate conference. Any effort to bar new development “is misguided” https://www.reuters.com/world/middle-east/opec-official-tells-oil-gathering-energy-transition-can-not-exclude-fossil-fuels-2021-12-08 and likely to hurt poorer nations, said OPEC Secretary General Mohammad Barkindo. Oil and gas also “can be part of the solution to tackling climate change.”