future energy system conversations held during world forum

Several top Chevron executives met with international leaders, investors and other stakeholders to discuss complex energy issues during the recent World Economic Forum.

This included understanding the ongoing need for lower carbon intensity fossil fuels in addition to renewable fuel advancements, Chevron’s CEO and Chairman said during the Davos, Switzerland event.

“I think people have an unrealistic expectation for how quickly the energy system can change,” Mike Wirth told Bloomberg. “Oil and gas will be used for decades to come.”

Since oil and gas will be needed for years to come, Chevron believes it is important to reduce the carbon intensity associated with producing them.

The forum was a chance to continue conversations with key stakeholders, as partnership is key to developing and scaling lower carbon solutions.

During a separate interview with CNBC, Wirth said more people are beginning to recognize that the climate conversation is not the only one needed in energy.

“For a number of years, the focus was almost exclusively on climate,” Wirth said. “I find a more balanced conversation is underway, certainly not less concerned about the climate, but I think more recognition that reliable supply and affordable energy matter.”

Other Chevron executives were also present to join in the conversations around the future of energy, including:

• Mark Nelson, vice chairman, discussed geopolitical issues facing the sector as he engaged with investors, partners and think tanks.
• Eimear Bonner, chief technology officer, participated in conversations on artificial intelligence, a new focus area at the forum.
• Molly Laegeler, vice president of Strategy and Sustainability, joined discussions on sustainability, activity in carbon markets and how geopolitical risks impact the price of oil.