BP CEO Calls for More Investment in Oil and Gas to Address Climate Problem.

Say How Much? BP CEO Calls for More Investment in Oil and Gas to Address Climate Problem.

During International Energy Week in London, CEO Bernard Looney confirmed the energy giant’s ambitions to invest in fossil fuels, called for a smooth energy transition, and said that additional oil and gas investment is required to meet net-zero targets.

BP CEO Calls for More Investment in Oil and Gas to Address Climate Problem.

The energy trilemma, as it’s known to bystanders, is that an energy system is effective when it offers energy that is inexpensive, secure, and low-carbon. We need to make investments in the oil and gas-dominated energy system of today to find a solution.

An entrance to the opulent hotel where the conference was held was blocked by protesters from the climate change organization Fossil Free London, who was yelling, “The climate crisis is a plague, Bernard Looney to the Hague.” They were also holding banners and lighted fireworks.

BP CEO Calls for More Investment in Oil and Gas to Address Climate Problem.

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BP announced a record net profit earlier this month of $27.7 billion, more than doubling its 2021 total due to a rise in oil and gas prices following Russia’s invasion of Ukraine.

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Vishal Rana

Vishal is working as a Content Editor at Enviro360. He covers a wide range of topics, including media, energy, weather, industry news, daily news, climate, etc. Apart from this, Vishal is a sports enthusiast and loves to play cricket. Also, he is an avid moviegoer and spends his free time watching Web series and Hollywood Movies.

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