Energy industry lauds Trump’s policy changes at Texas summit
'We can all feel the winds of history in the sails of our businesses again,' Saudi Aramco CEO Amin Nasser says, hailing new investments in fossil fuels
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U.S. Secretary of Energy Chris Wright speaks at S&P Global CERAWeek conference in Houston, Texas
Drilling and fossil fuels are in. Green hydrogen is out. That appears to be the prevailing view among oil company executives who are gathered in Houston for the S&P Global CERAWeek conference.
The mood at the annual energy summit on Monday was described as celebratory by the Washington Post as industry leaders listened to U.S. Energy Secretary Chris Wright outlining a new manifesto.
“The Trump administration will end the Biden administration’s irrational, quasi-religious policies on climate change that have imposed endless sacrifices on our citizens,” Wright said.
At breakfast presentations and corporate-sponsored receptions, oil executives promoted plans for building more fossil-fuel infrastructure, arguing that advocates for cleaner energy need to recognize that petroleum is essential to meet growing U.S. demand for power.
“We can all feel the winds of history in the sails of our businesses again,” Saudi Aramco CEO Amin Nasser said in an address calling on the industry to invest more in fossil fuels and not expect green hydrogen and other new sustainable energy sources to fill global needs.
“There is more chance of Elvis speaking next than the current plan working,” Nasser said.