ConocoPhillips’ Chairman and CEO Speaks to the Detroit Economic Club
Lance says the 2008 financial crisis, along with lack of demand from emerging markets, has left industry with surplus.
Members of the Detroit Economic Club were given a forecast yesterday of the future of energy and oil from one of the industry’s biggest figures. ConocoPhillips’ Chairman and CEO Ryan Lance spoke with the D.E.C. about the role that oil and natural gas plays in today’s global economy. Lance says in addition to a lack of demand for oil, regulatory actions like a carbon emission tax could slow industry development.
“The world needs energy cheaply and affordable energy, but we also have to do that sustainably in the business. What I say is, whether you believe or you don’t believe in climate change, the issues are here and they’re here today.”
Ryan Lance, ConocoPhillips’ Chairman and CEO
Climate change is a growing concern for oil and energy companies in the wake of an international pact made in Paris last year to limit global warming to less than two degrees Celsius.
