CEO of Saudi Aramco worries about “a bottleneck” in oil production. Seriously!
Oil prices and profits are on the rise again. The anti-science disinformation campaign funded in large part by Big Oil is having unimaginable success. And the powerful minority of do-nothing ideologues appear to have the upper hand in the Senate.
And that means a modern day Mr. Potter oil company executive can speak his mind and tell us what he really thinks of clean energy, as Greenwire (subs. req’d) reports:
HOUSTON — Leaders of two of the world’s largest oil and gas companies used their addresses at CERAWeek, a sprawling conference sponsored by energy analysis firm IHS Cambridge Energy Research Associates, to warn against unbridled optimism about wind and solar energy. Khalid Al-Falih, president and CEO of Saudi Aramco, deemed overreliance on renewable power dangerous, while ConocoPhillips Chairman James Mulva employed sarcasm to compare renewable boosters to those who won’t acknowledge climate change.
“We must overcome the opposition of the ‘hydrocarbon deniers,’ “ Mulva said, playing off the term “climate deniers,” used to describe skeptics about climate science. Hydrocarbon deniers, he said, are those who “believe that renewable energy will quickly and easily replace hydrocarbons and cure all that ails us.”
Well, I’m quite sure if Mulva and his buddies have anything to say about it, we won’t be curing what ails us anytime soon!
Mulva, whose company supports mandatory U.S. regulation of greenhouse gases, said renewables cannot develop quickly enough to replace fossil fuels, and he predicted that even in 40 years, most electricity will not come from renewable sources.
Hmm. ConocoPhillips left the US Climate Action Partnership in February, primarily it seems because it didn’t like even the modest regulation of emissions from oil that USCAP had been pushing.
“After all, there are only so many places where massive development is economical and publicly acceptable,” Mulva said, “and only so much government funding to subsidize the renewable sources.”
Seriously. Of course, that’s the point of having a price on carbon that Mulva had been supporting, so you don’t need endless subsidies. Later in the very same article we read:
Mulva lambasted the administration’s proposals to terminate tax benefits on oil and gas. “Perhaps it has not learned that if you tax something you get less of it,” he said. “Less supply security, fewer jobs and lower reinvestment.”
Yes, endless subsidies for fossil fuels, even though they dominate the market and are destroying a livable climate, but clean energy, well there’s only so much funding available for that.
Wind and solar have problems with “cost, reliability, visual impact, land and water use, bird strikes and massive power-line rights of way,” Mulva said. Biofuels, he said, require large amounts of land and water, can drive up food prices and increase greenhouse gas emissions.
It boggles the mind. In Mulva’s Bizarro World, Htrea, oil extraction, transportation, and refining are purely benign.
The Saudis have even more chutzpah, as it were:
Al-Falih said too much focus on renewables could diminish the investment needed to continue producing traditional fuels and could create a “green bubble” in energy markets.
“The belief in an almost instantaneous transformation to alternative energy is worrisome to me,” Al-Falih said. “While our subsurface resources remain plentiful, we may create a bottleneck above ground by failing to invest wisely and in a timely fashion.”
[Pause to clean up gray matter off the floor — sorry for not warning you about the need for a head vise.]
The entire goal of Saudi Aramco and OPEC is to create a bottleneck above ground in oil!
Where is George Bailey when we need him?
- Saudis redefine chutzpah: After decades of overpricing, and with trillions of dollars in future revenues, they want aid if world cuts oil use in climate deal
- Saudi Arabia endorses anti-science: “There is no relationship whatsoever between human activities and climate change”
- Oil Dependence Is a Dangerous Habit
- Big oil made $600 billion under Bush, but invested bupkis in clean energy, Part 2: Details on BP, Chevron, Conoco Phillips, Shell and ExxonMobil