Well, I’m Confused

It says here on Reuters Sustainable Switch that “All eyes are on the energy sector after the European Union called on fossil fuel companies to pay for fighting climate change in low-income countries, while big oil executives take part in one of the world’s largest energy conferences in Houston, United States this week.

The fossil fuel industry should help pay for fighting climate change help pay for fighting climate change in poorer countries under a United Nations target, EU countries’ foreign affairs ministers said.”

But the next news item in the feed tells us that down in Houston this week, fossil fuel executives are orating about the “fantasy of phasing out oil and gas.”

Speaking of the fossil fuel sector, top oil executives and ministers descend on Houston this week for one of the world’s biggest energy conferences emboldened by blockbuster mergers, stable oil prices and less pressure for a large-scale move to clean fuels.

The annual CERAWeek conference comes as demand for oil and gas continues to rise alongside solar, wind and biofuels. ….In fact, the head of the world’s largest energy company urged a re-set of global energy transition plans in remarks to oil and gas executives at the conference.

“We should abandon the fantasy of phasing out oil and gas, and instead invest in them adequately, reflecting realistic demand assumptions, as long as essential,” Saudi Aramco CEO Amin Nasser said, in remarks that drew applause from the audience.