As hundreds of oil and gas executives and government representatives descend on Calgary for the World Petroleum Congress, a delegation from Saudi Arabia is warning of the consequences of ditching oil and preaching the need for a more realistic energy transition and more investment in oil and gas.
'The world wobbles'
"As the recent energy crisis has shown, compounded by the conflict in Ukraine, the world wobbles if these realities are ignored or wished away, and the public anger we have already seen could ultimately derail climate ambition and action themselves," he said. The IEA, for its part, agrees that demand for fossil fuels will still see peaks and valleys in the years to come, and that demand will vary country by country. Still, it predicts the era of "relentless growth" for the fossil fuel sector is coming to an end.The IEA's projection and industry comments at the conference in Calgary show the different points of view that exist about the future of the oilpatch, said John England, an energy analyst with Deloitte Global.
"We can't stop investing in hydrocarbons. We still need to invest in those, but while we're investing in these newer energies. And so I think it's just trying to find the balance," he said in an interview with CBC News.North American oil prices surged Monday to more than $90 US per barrel, a nine-month high.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
World Petroleum Congress kicks off in Calgary with energy transition themeAround 5,000 delegates from more than 100 countries are expected to attend the conference, which begins Sunday.
Lire la suite »
World Petroleum Congress an important opportunity for Calgary: GondekDelegates and oil executives from across the globe arrived in Calgary over the weekend for the World Petroleum Congress, which began Sunday.
Lire la suite »
World Petroleum Congress kicks off in Calgary with energy transition themeWatch World Petroleum Congress kicks off in Calgary with energy transition theme Video Online, on GlobalNews.ca
Lire la suite »
Calgary hosts global oil-producing nations at 24th World Petroleum CongressCALGARY — Hundreds of executives and government officials from oil-producing nations around the world are gathering in Calgary this week, against the backdrop of growing global pressure to reduce greenhouse gas emissions. The 24th World Petroleum Congress, one of the largest oil-and-gas conferences in the world, runs from Monday to Thursday. The event, which has not been held in Canada since 2000, will count among its attendees heavyweights such as Exxon Mobil CEO Darren Woods, Repsol CEO Josu J
Lire la suite »
Calgary hosts global oil-producing nations at 24th World Petroleum CongressCALGARY — Hundreds of executives and government officials from oil-producing nations around the world are gathering in Calgary this week, against the backdrop of growing global pressure to reduce greenhouse gas emissions.
Lire la suite »
Calgary hosts global oil-producing nations at 24th World Petroleum CongressThe 24th World Petroleum Congress is being held against the backdrop of growing global pressure to reduce greenhouse gas emissions
Lire la suite »