Shell Canada president Susannah Pierce made the comments Thursday in an interview in Calgary, where hundreds of executives and government officials from oil-producing nations around the world are arriving this weekend for the 24th World Petroleum Congress that kicks off Sunday.
Shell has its own net-zero ambitions, and the company is investing in electric vehicle charging, hydrogen, biofuels and wind and solar energy. There has been renewed demand for traditional fossil fuels in the wake of Russia's invasion of Ukraine last year, which has prompted global concerns about energy security. Oil companies reaped record profits last year as commodity prices spiked to all-time highs.In the wake of this surging demand, some companies have been criticized for emphasizing current profits over long-term climate progress.
While Pierce declined to comment on Kruger's statements specifically or the political reaction to them, she said oil and gas companies are providing a product that the global economy depends on.
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Oil companies can only decarbonize as fast as the rest of the economy: Shell CanadaCALGARY — The president of British oil giant Shell's Canadian subsidiary says the pace of the global energy transition isn't up to oil and gas companies. Shell Canada president Susannah Pierce says while oil and gas companies must do what they can to reduce their own emissions, they can only move as fast as the rest of the economy. Pierce says the global economy is still fossil fuel-driven and fossil fuels are what customers are demanding. She says transitioning to a lower-carbon economy will re
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Oil companies can only decarbonize as fast as the rest of the economy: Shell CanadaCALGARY — The president of British oil giant Shell's Canadian subsidiary says the pace of the global energy transition isn't up to oil and gas companies.
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Oil companies can only decarbonize as fast as the rest of the economy: Shell CanadaThe president of British oil giant Shell's Canadian subsidiary says the pace of the global energy transition isn't up to oil and gas companies.
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Oil companies can only decarbonize as fast as the rest of the economy: Shell CanadaThe fossil fuel industry is increasingly under the microscope for its contribution to climate change, but the president of British oil giant Shell's Canadian subsidiary says oil and gas companies can't be held solely responsible for the pace of the global energy transition.
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Oil companies can only decarbonize as fast as the rest of the economy: Shell CanadaWhile Shell has its own net-zero ambitions, Susannah Pierce said the speed of global decarbonization is dependent on the entire economy transitioning, not just the energy sector.
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