The president of Shell Canada has expressed concern about the pace of the worldwide transition towards renewable energy sources, stating that the oil and gas industry is being left behind. Speaking in Calgary at a recent energy conference, he emphasized the need for sustained investment in alternative energy sources, as well as the importance of government support and regulatory frameworks. The comments come as global demand for oil continues to fall, with many countries setting ambitious targets to reduce emissions and move towards a zero-carbon future.
1. The president of Shell Canada is concerned about the slow global transition towards renewable energy sources.
2. The oil and gas industry is being left behind in this transition.
3. Sustained investment in alternative energy sources is necessary.
4. Government support and regulatory frameworks are important for the transition.
5. Collaboration and support from governments, investors, and various industries are required to accelerate the adoption of renewable energy technologies.
Global demand for oil is projected to decline by 8.8 million barrels per day in 2020 due to the COVID-19 pandemic.
companies alone. Michael Crothers made the statement during a panel discussion at the 2021 Global Energy Summit in Calgary. He acknowledged that while oil and gas companies have a role to play in transitioning to cleaner energy sources, it requires collaboration and support from governments, investors, and various industries. Crothers emphasized the need for a collective effort to address climate change and accelerate the adoption of renewable energy technologies.