Posted on 03/19/2024 9:04:21 AM PDT by catnipman
Oil and gas will play a role in the global energy needs for a "long, long, long time to come," said Shell chief executive Wael Sawan today.
Sawan is working to move beyond a dialogue that "seems to fixate" on the notion one must choose between fossil fuels like oil and gas or renewables like solar and wind.
"It's all. And we need them in abundance," Sawan told participants at CERAWeek by S&P Global conference in Houston today.
Stable oil production is deemed necessary by Shell as it transitions its customers to lower carbon solutions over the course of decades. Energy security in the EU is also top of mind for Sawan, who acknowledges the tough choices government heads must make when choosing where to spend their marginal dollar. But he still sees strategies that do not adequately address long term supply needs.
"I still think we rely too much on chance in that regard," said Sawan, but noted it is "definitely much more pragmatic and much more realistic than maybe a few years ago."
"The positive thing that we've tried to reinforce for Europe is that energy transition and energy security for you and Europe are one in the same, because you don't have too many options," Sawan said, highlighting coal decommissioning, nuclear project lead times and declining oil and gas production.
"Unfortunately, there's still more politicization of energy than there needs to be."
Freight disruption in the Red Sea is having "very little" effect on LNG movements, according to Sawan, largely because of supply and demand being "nicely balanced" on either side of the Suez Canal. Sellers on the east side can swap with counterparties on the west side to minimize disruption to trade flows.
(Excerpt) Read more at argusmedia.com ...
“Wael Sawan”
Is he a West Texan?
Election year. Biden needs cheap gas prices and Iran and Russia, China too all know it.
Federal reserve wants to appear neutral so may not adjust rates much.
One third of GDP was government jobs.
Biden continues to hand out money to everyone for votes.
This economy is not improving before the election. Gas prices may rise in war infrastructure strikes
“Unfortunately, there’s still more politicization of energy than there needs to be.”
As long as there are leftists, progs, and commies in the world, EVERYTHING is more politicized than it needs to be. They politicize EVERYTHING to sate their insane lust for power. From the biggest (energy supplies, vehicles, power, food, murdering babies) to the smallest (your pronouns, your toilet, your light bulbs), they politicize it.
Sigh... I have tons of natural gas leases and my royalty income has been destroyed by fracking. While I want my country energy independent, I wish my wells weren’t capped because of the glut. Sigh...
Natural gas especially. Natural gas is much more widely available than people originally anticipated and burns with far less harmful pollutants than fuel oil, let alone coal. And natural gas can be processed into both gasoline (petrol) and diesel fuel if needed, too.
Blacktop roads
Roof Shingles
Steel
Glass
EVERY kind of packaging you can imagine
If I could remove from the White House/Biden’s homes every item that depends on fossil fuels-—I would leave the places relatively empty
Not really. Its been forced on them.
BP and Shell, both being good Euro-weenie, globohomo-controlled companies, pushed their "green energy conversion" schemes for 15 years. Their wind and hydrogen projects cost them many $billions in write-downs. BP is an even bigger failure than Shell.
Meanwhile, their share price has gone nowhere. In the last 10 years, Exxon and Chevron have outperformed Shell by over 100%
BP is an even bigger disaster. Their share price is actually down vs. 20 years ago, and Exxon and Chevron have outgained them by nearly 300%. BPs reserves are down by half in 20 years, meaning it isn't finding new oil and gas sources - in line with a previous CEO's decision to reduce their oil and gas business by 40%
They're putting themselves out of business.
And Biden having to wear cloth diapers versus disposable
And coal.
BP found a reason to let Looney, Bernard go over this I'd guess. No common sense.
carbon Luddites should eschew plumbing which uses smelted copper pipes or plastic pipes; Wiring which uses smelted copper with plastic insulation; Nails and screws and rebar which use smelted iron; Cement used in concrete and mortar which is made by burning coal; Glass which is made by melting silicon and other minerals; Sheet rock which is made in factories run by electricity and made from gypsum mined and hauled to the factor via machines run with diesel; Lumber which is cut and milled with machines run by gasoline and electricity, and dried in kilns fired by natural gas; Brick which is made from mined clay and fired in kilns fired with natural gas; And all this stuff has to be hauled to the site with trucks run with gasoline or diesel; And all the necessary earth-moving and digging are done with machines which run by diesel; And all those machines which are made with or from or by products derived from coal, gas, and oil; And finally, all electronics and services provided by electronics such as cellular and smart phones and the Internet which are manufactured from components which are made from or by carbon, as well as the services themselves which are powered by cargo energy. The list is essentially endless.
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