Navigating the Oil & Gas Industry's Energy Transition

Panelists at the recent Baker Institute’s 2021 Annual Energy Summit offer advice for clients seeking guidance during the uncertain transition period in the energy industry.

(Source: art22/

As the energy industry sets its goals to transition to cleaner energy, experts have explained exactly how to manage those ambitious goals and how to deal with uncertainty during the transition period. At the recent Rice University Baker Institute’s 2021 Annual Energy Summit, four panelists discussed the ways government policy will shape ESG initiatives and how to deal with the uncertainties in the energy industry moving forward.

To accomplish its goals, the loan programs office (LPO) at the U.S. Department of Energy is financially backing companies that have goals aligned with their own, setting aside money specifically for environmentally sustainable technologies and projects and for investment in startup companies in overlooked communities.

Deputy Director Dong Kwun Kim said, "When you consider that we are pursuing these large megaprojects, large projects that are at times first-of-a-kind engineering endeavors, projects that include nascent companies, startup companies—overall, in spite of all the challenges that we have with new and innovative technologies—new startups, companies that are trying to retool... we have a 3.3% loss rate, accurate recoveries of $36 billion dollars guaranteed and issued.”

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Madison Ratcliff

Madison Ratcliff is an associate editor for Hart Energy's editorial team.