Chevron CEO Blames Climate Policies For Global Energy Crisis

Chevron CEO Blames Climate Policies For Global Energy Crisis

  • Chevron CEO Mike Wirth warned that the premature transition to green energy is already having a major impact on Europe.
  • The oil company chief noted that the global energy crisis had been exacerbated by Western governments "doubling down" on green energy policies.
  • "The reality is, [fossil fuel] is what runs the world today. It's going to run the world tomorrow and five years from now, 10 years from now, 20 years from now,” Wirth explained.

The chairman and CEO of energy company Chevron warned the global energy crisis had been exacerbated by Western governments "doubling down" on green energy policies that will only cause "more volatility, more unpredictability, and more chaos." 

“If people want to stop driving, stop flying... that’s a choice for society,” he said.

“I don’t think most people want to move backwards in terms of their quality of their life... our products enable that.”

CEO Mike Wirth told Financial Times in an interview this week that the premature transition from fossil fuels to green energy, a move to decarbonize the economy, has sparked "unintended consequences," such as energy supply issues that are already widespread in Europe and emerging in California. 

Wirth continued that even though renewables, such as wind and solar, have been invested heavily by Western governments over the last two decades to decarbonize grids, fossil fuels still are a large percentage of power generation, adding politicians really need to hold an "honest conversation" about the energy crunch before things worsen.

"The conversation [about energy] in the developed world for sure has skewed towards climate, taking affordability and security for granted. 

"The reality is, [fossil fuel] is what runs the world today. It's going to run the world tomorrow and five years from now, 10 years from now, 20 years from now."

Wirth outlined years of underinvestment caused the global energy crunch and predated Russia's invasion. This has given way to limited spare capacity by oil-producing countries.

He said the investments in alternatives versus fossil fuel were "woefully short, trillions of dollars short," and has caused the mismatch "illustrates the risk in moving from a system that keeps the world functioning today aggressively to another system, and shutting down nuclear, shutting down coal, discouraging oil and gas."

Wirth's comments squarely blamed Western governments for the energy crunch and should also include Wall Street banks (cough cough BlackRock's Fink), big tech companies, corporate elites, and other progressive organizations, such as The World Economic Forum, that have worked together to push a green energy agenda. 

This was a dilemma for an administration that had entered office with a “very clear agenda . . . to make it more difficult for our industry to deliver energy to our customers”.

What's become evident following the war in Ukraine and disruptions to global energy markets -- is that countries that quickly increased investments in green energy and decommissioned fossil fuel power plants suffer the most (Germany is a prime example).

The people who pushed green energy now say the world needs more and take no responsibility for the decarbonization movement backfiring (which has led to energy hyperinflation). 

Wirth's latest comments come as he warned US households to brace for soaring natural gas prices this winter. He has combated (read: here & here) the mindless folks at the White House who have blamed the oil and gas industry for the energy crunch. 

The unintended consequence of decarbonizing economies too fast is energy hyperinflation. 

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Comment by Willem Post on October 22, 2022 at 7:33am

Trump told the Germans, they were too dependent on Russian gas, in 2018.

They pooh-poohed and laughed at him.

The Germans are not laughing now, as they face being uncompetitive and de-industrialization on a massive scale.

Europe made a natural gas switch to other sources, such as the US, etc., because of the predictable blowback of its premeditated US/EU sanctions against Russia, due to the Ukraine events.

 

Europe had foolishly supported the US-instigated/financed, color revolution, in Ukraine, in 2014, which violently ousted a democratically elected leader.

"Fuck the EU" Ms. Nuland, Assistant Secretary of State, a former Ukrainian, was one of the on-site rooters of the Coup d’Etat.

See URL

https://www.windtaskforce.org/profiles/blogs/the-plot-is-thickening...

 

Opportunities for the US/UK/NATO to: 

 

1) Turn Ukraine, and most of East Europe, into an armed camp, by moving military infrastructures and personnel to Russia’s borders, to "bark at the gates of Russia", per the Pope.

 

2) Weaken Russia with sanctions, that backfired, mostly onto Europe, and benefitted the US LNG producers/exporters and LNG carrier owners, while

 

3) Biden's posse of Socialists is:

 

- More concerned with Ukraine’s borders, than our own US southern border

- Exporting our oil, gas and coal, which is contributing to 8+% inflation.

 

Those policies will back-fire, and take away the ill-gotten control by Dem/Progs of the US government, in November 2022.

 

4) Use foreign-financed NGOs to foster unrest and color revolutions to get control of Belarus (big fertilizer/potash exporter) and Kazakhstan (big oil/gas exporter); the attempted regime changes were unsuccessful.

 

5) Use Ukraine to stonewall Russia regarding the Minsk accords, for 8 years, while:

 

- Building up the Ukraine army with NATO weaponry  

- Neo-Nazi "army personnel" were performing a punishing genocide of about 12,000 Dombas separatists, barely reported by the US/UK/EU media.

 

Kiev's government, led by neo-NAZI-nationalists, loaded with all sorts of NATO weapons, are ruining Ukraine, because they did not want to give "autonomy-while-being-part-of-Ukraine" to the Dombas, which is populated almost entirely by Russian-speakers, who, to their surprise, became, de facto, "Ukrainian" without being asked, who have been living in the Dombas, and elsewhere, for hundreds of years. 

 

Europe is now outsourcing its natural gas deliveries to the US, which is charging 4 times for its LNG, than Russia was charging for its pipeline gas!!

 

It is highly likely, the US/UK/NATO blew up Russia’s Nordstream 1 and 2 pipelines to eliminate any future low-cost competition, and to prevent Germany from making a gas deal with Russia.

 

Short-sighted Europeans Screwed Themselves Big-time

 

Europeans are burning their own trash, and cutting trees in the forests to stay warm

How good is that for the environment?

Europeans are finding expensive wind, solar and battery policies, made more expensive by high inflation, are unaffordable at high oil, gas and coal prices

 

Europe Teetering on Economic Ruin.

 

Energy-intensive factories and smelters are being shut down, many of them permanently.

The UK now has the highest electricity bills in Europe; previously RE mavens Denmark and Germany shared those honors.

According to a report released last week by the British government, business bankruptcies in the UK are now at their highest level since the 2009 financial crisis."

 

- China halted all resales of LNG sourced from Russian gas.

- The EU's sanctions on Russian oil will shut down Russian oil delivery to Europe in just over a month.

- Russia will sell its oil for rubles to friendly countries, because dollars and euros are worthless to Russia, because of pre-meditated US/UK/EU sanctions

- The Financial Times is reporting the UK’s National Grid warned British households to prepare for blackouts between 4 pm and 7 pm on "really, really cold" weekdays in January and February.

 

EU Sanctions are an "Economic Jonestown."

 

No wonder US Climate Jacobins are celebrating the economic and human devastation as winter closes in.

Meanwhile, US LNG shipments into Europe are pricing at 4x above Atlantic Basin prices -- a very nice payday.

While New England faces gas shortages due to New York State bans of pipeline expansion and the Jones Act.

 

Eventually There will be Other Options.

 

Erdogan agreed to study creating a gas hub in Turkey for blending Russian, Azerbaijan and other gas for shipment into the Balkans and southern Europe.

 

Europe is Toast for at Least the Next Five Years.

 

EU leaders’ first priority regarding energy is creating the appearance of being green, by not signing low-cost, long-term contracts for pipeline gas from Russia.

 

Russia responded by continuing the delivery of gas in accordance with signed contracts, and by not selling gas to the EU spot market, where prices have soared to unprecedented highs.

 

The EU had to implement the US pre-meditated sanctions on Russia, to protect its $15 trillion of investments in the US, and its huge annual balance of payments surpluses with the US.

 

 

Comment by Dan McKay on October 17, 2022 at 5:33pm

The politicians pleading for your vote own this mess, and from what I have seen, not one of them is even offering to talk about it, much less, own up to it.

 

Maine as Third World Country:

CMP Transmission Rate Skyrockets 19.6% Due to Wind Power

 

Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.

Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT

******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********

(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/

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Hannah Pingree on the Maine expedited wind law

Hannah Pingree - Director of Maine's Office of Innovation and the Future

"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."

https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/

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