"The reduction in oil production is dangerous"

It is 'dangerous and irresponsible' to cut oil and gas production this time, Shell chief executive Wael Sawan said

Increased demand from China and the possibility of a cold winter in Europe could push energy prices and electricity bills up again

It is “dangerous and irresponsible” to cut oil and gas production at this time, Shell chief executive Wael Sawan said. In an interview with the BBC, he argued that the world still “desperately” needs fossil fuels, as steps towards a green transition are being made at a very slow pace.

Chawan also warned that the increased demand from the China, after the lifting of health measures at the beginning of the year, as well as the scenario of a cold winter in Europe may raise energy prices and electricity bills again.

Chauhan's stance has sparked a backlash from climate experts, who have argued that Shell's plan to continue oil production at current levels until 2030 is the wrong choice.

Fossil fuels are essential, as green transition is progressing slowly, says Shell's CEO.

For example, Emily Schuckburgh, a professor at the University of Cambridge who specializes in climate, commented that companies like Shell should focus on accelerating the green transition “rather than trying to convince the most vulnerable in society that they are better served by prolonging the consumption of oil and natural gas”. Also, the head of the UN, Antonio Guterres, recently emphasized that investment in new oil and natural gas production is an “economic and moral madness”. “With all due respect, I disagree,” Shawan told the BBC. “What would be dangerous and irresponsible is to reduce production, as the cost of living, as we saw last year, will start to rise again,” he added. In order to achieve the goal of the Paris Agreement, last year the Commission presented the new “Green Deal”, the plan that accelerates the green transition and the European bloc's weaning from Russian fossil fuels.

Outside the EU, however, there are many countries that do not have the appropriate infrastructure to move to more sustainable forms of energy. Sawan noted that fierce competition to secure natural gas last year sidelined poorer countries such as Pakistan and Bangladesh, which were unable to buy sufficient supplies.

“They took LNG from these countries and the they had to work and read by candlelight,” he declared. “If we want to make the transition, it shouldn't just work for one part of the world,” he added. pointed out to the BBC that “the idea that it is a choice between our addiction to fossil fuels and a candlelit daily life is a huge misunderstanding of reality, as we know that renewables are cleaner, cheaper and better for public health”.

The head of the International Energy Agency (IEA), Fatih Birol, recently said that “if governments take the climate crisis seriously, there can be no new investment in oil, gas and coal between now and beyond”.

Source: www.kathimerini.com.cy

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