Like many CEOs, Wirth was into sports growing up and credits school football and basketball coaches for instilling in him values of hard work, discipline, and teamwork. The family then moved to Golden, Colo., when his father assumed an executive role at the American brewery and beer company Coors. Wirth was born in Los Alamos-home to the Manhattan Project where the atomic bomb was developed-where his father worked in the National Laboratory. On that basis and taking into account that energy security, energy affordability and lower emissions “are in tension with one another,” Chevron will spend just $2 billion of its $14 billion capital spending budget on lower carbon investments this year, because such bets offer lower returns. “You can build scenarios, but we live in the real world, and have to allocate capital to meet real-world demands,” he added. While competitors such as BP and Shell are actively promoting more aggressive transitions toward a lower-carbon future, Wirth’s message is clear: Lower emissions are important, but not at the expense of maintaining an affordable and reliable energy supply.įor that reason, he said, he doesn’t see demand for fossil fuels dying out anytime soon. Wirth pushes bvackĪlthough Wirth agreed that as one of the world’s largest oil and gas producers Chevron needs to work with its critics “to be part of the solution,” he swiftly added the caveat: “But that can’t deter us from what we do.” Meanwhile, the UN secretary general, António Guterres, condemned the “grotesque greed” of oil and gas companies while urging governments to introduce a windfall tax to help those in the most need. It’s why environmental activist groups like Just Stop Oil and Extinction Rebellion have gone to extreme lengths such as blocking motorways to protest energy companies prioritizing profit at the expense of the planetĮven President Joe Biden complained about energy companies “making more money than God”-at consumers’ expense-after Russia’s invasion of Ukraine.
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