U.S. President Joe Biden said on Oct. 31 it was "not inconsistent" for him to push energy-producing nations to increase output of fossil fuels while also urging countries to commit to an energy transition.
Biden spoke to reporters after days of tough negotiations in Rome between leaders of the Group of 20 major economies. He referred to "disappointment" with the lack of progress toward climate goals at the talks, which took place ahead of the COP26 climate talks in Glasgow.
At the talks, Biden also urged energy-producing countries with spare capacity to boost production to ensure a stronger global economic recovery as part of a broad effort to pressure OPEC and its partners to increase oil supply.
"It’s not at all inconsistent in that no one has anticipated that this year we would be in a position, or even next year, that we’re not going to use any more oil or gas," Biden said.
For example, Biden said, the United States still needs gasoline even as it aims to have electric vehicles make up half of the vehicles on U.S. roads by 2030.
“The idea we’re going to be able to move to renewable energy overnight and... from this moment on not use oil or not use gas or not use hydrogen, it’s just not rational," Biden said.
Recommended Reading
Woodside Reports Record Q3 Production, Narrows Guidance for 2024
2024-10-17 - Australia’s Woodside Energy reported record production of 577,000 boe/d in the third quarter of 2024, an 18% increase due to the start of the Sangomar project offshore Senegal. The Aussie company has narrowed its production guidance for 2024 as a result.
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
2024-10-05 - Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
Chevron Moving HQ, CEO from California to Houston
2024-08-02 - Chevron Chairman and CEO Mike Wirth and Vice Chairman Mark Nelson will relocate to Houston, where much of Chevron’s other top leadership is already based.
Investor Returns Keep Aethon IPO-ready
2024-10-08 - Haynesville producer Aethon Energy is focused on investor returns, additional bolt-on acquisitions and mainly staying “IPO ready,” the company’s Senior Vice President of Finance said Oct. 3 at Hart Energy’s Energy Capital Conference (ECC) in Dallas.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.