NEW YORK (Reuters) – U.S. climate envoy John Kerry will headline the second day of the world’s largest oil and gas conference, along with Big Oil executives trying to make the case for their importance even as panelists at CERAWeek focus on how the industry will aim to reduce carbon emissions.
The coronavirus pandemic has accelerated the transition to renewable fuels and electrification of key elements of energy use. Global majors have been playing catch-up, responding to demands from investors to reduce production of fuels that contribute to global warming.
Kerry will try to address how the United States will reclaim its position as a global leader on climate change. President Joseph Biden, who appointed Kerry, is bringing the nation back into the Paris Climate Agreement which is aimed at reducing emissions.
Biden, in his first weeks as president, cancelled a presidential permit that would have allowed the construction of the Keystone XL pipeline from Canada, and is taking steps to limit new oil and gas development.
Some oil industry executives have criticized those moves, and several will also speak on Tuesday, including the CEOs of U.S. majors Exxon Mobil and Chevron Corp.
CERAWeek was canceled last year due to the coronavirus pandemic which stopped billions of people from traveling and wiped out one-fifth of worldwide demand for fuel.