Oil industry’s poor reputation throws a dark cloud over energy security gas 10 ethanol

#######

Much of the focus of this electricity for beginners pdf year’s IP Week in London has been on what role the oil and gas sector will play in the future energy mix. But for Saudi Aramco and their president and CEO Amin H Nasser, it was more about how the continued poor perception of the sector could hamper its ability to innovate and deliver the resources that the world will continue to need for some time.

Nasser was at pains to explain that the industry should be proud of the crucial and sustained contribution to the global economy and people’s lives, around the world, day after day for over a century. Two billion more people today have access to ample, affordable, and reliable sources of energy than even just a generation ago. It has lifted them out of poverty, enabling them to enjoy the essentials of modern life that people in developed countries take for granted.

Nasser recounted a tale from his recent trip to the Davos conference. One senior financial figure he spoke to confidently predicted the end of the industry in about five years. Another was slightly less npower electricity power cut pessimistic – but he speculated that most vehicles on the road would be electric in five to ten years when today they account for less than half a percent. “In other words, important stakeholders believe that the entire world will soon run on anything, but oil,” he said

He argued that these views are not based k electric jobs on logic and facts and are formed mostly in response to pressure and hype. “But they are sincerely held,” he warned. “And our stakeholders are clearly tuning out. They are not hearing us when we say that passenger vehicles are only 20% of the world’s oil demand. Or that the remaining 80 percent is used by sectors like planes, ships, trucks, petrochemicals, and lubes for which there is no alternative yet and where demand for oil is expected to increase substantially.

“They do not recognize a world where alternatives such as solar and wind, although growing rapidly, still account for just two percent of primary gas or electricity more expensive energy demand today. There is very little thought given to the massive global energy infrastructure that would need to be transformed in every corner of the world, costing trillions of dollars, bearing in mind under-developed countries that cannot afford expensive technologies. And people gloss over the reality that today gas near me app, in many countries, more electric vehicles means more coal-powered vehicles.”

In fact, in some of the world’s most populated countries, up to three-quarters of electricity is generated by coal. “In other words, my encounters in Davos showed me that fewer and fewer of our stakeholders accept logic and facts, least of all from us,” he continued. “We are therefore facing what I would call a crisis of perception. With multiple stakeholders.

“And the impact would be even more profound for economies, societies, and people if demand continues to grow over the next five years, as we expect. Ironically, higher oil prices would cause much less pain to us than most. But they would only reinforce the perception that many have of our industry as profiteering, and it would certainly not be in anyone’s long-term interests. So how do we deal with this perception crisis?”

Nasser pointed to five areas that demand urgent, collective effort. First to articulate a future for the industry that shows it clearly understands society’s expectations and share their concerns. Second, it needs to show society c gastronomie that it truly embraces our social responsibilities. Third, continue to innovate and develop the technology that has been the key to the industry’s regular reinventions. Fourth, when it comes to attracting investment, facts and logic are more important than ever. And finally, the industry needs to change the way it connects.

“We need to lighten the carbon footprint of our fuel products further – and do so fast. We need to be trusted globally and locally as a sustainable, ethical, and transparent grade 9 electricity unit review industry that is genuinely willing to engage, listen and change as needed. We need to show millennials that we are as innovative as Apple, Google, or Samsung, and are determined to use cutting-edge technology to make the world a better place.