Presented by:
Subscribe to receive notifications about new Energy Policy Watch episodes.
President Joe Biden has called on U.S. oil companies to drill more—a move largely seen as a departure from his campaign promise to cut greenhouse-gas emissions.
However, can the industry address the big challenges and issues of today with the need for more domestic oil supply while also cutting greenhouse-gas emissions?
Jon Rogers, CEO of Locus Bio-Energy Solutions, recently joined Cornerstone’s Jack Belcher on the latest installment of Energy Policy Watch to discuss a possible solution for U.S. producers to boost domestic production while also addressing ESG concerns.
“The Russian invasion of Ukraine has really done a reset on the oil and gas markets,” Rogers said. “Looking back 5-6 months ago, the focus was on ESG and really about the U.S. being forced to clean up its operation.”
An example Rogers cited was activist investor Engine No. 1’s successful campaign last year for Exxon Mobil Corp. to accelerate its decarbonization efforts. However, in recent weeks, Chris James, Engine No. 1’s founder, has said domestic energy security is key.
“Where we are now is obviously we’re going to have to produce as much as we can in the states probably for the foreseeable future,” he said, “but I think we have to do it in a clean and sustainable way.”
See below for more on this dynamic discussion between Rogers and Cornerstone’s Jack Belcher on the latest installment of Energy Policy Watch including Locus Bio-Energy Solutions’ biosurfactant technology and its use by U.S. shale operators to produce low-carbon barrels.
Jump to a topic:
- 1:05 — Background of Locus Bio-Energy Solutions
- 3:10 — Addressing call to boost oil supply and ESG
- 5:00 — Locus Bio-Energy Solutions’ role in boosting production
- 9:20 — Examples of scalable technology
- 11:45 — Dominant themes at recent TIPRO conference
- 12:45 — Locus Bio-Energy Solutions results so far
- 14:55 — Energy policies needed to facilitate innovation
- 17:35 — Helping alleviate supply chain issues
Energy Policy Watch is a partnership between Hart Energy and Cornerstone to bring regular video updates on legislative and regulatory actions affecting the energy industry. Guests range from key representatives or congressional staff to relevant cabinet-level officials and executive branch personnel. View More Energy Policy Watch Episodes Here.
Recommended Reading
Intensity Infrastructure Partners Secures Equity Backing from EIV Capital
2023-01-31 - In February, EIV Capital raised $702 million in funding and said it had more than $900 million to deploy into new investments.
Exclusive Q&A: ChampionX's Thoughts on Supply Chain Challenges [WATCH]
2023-01-31 - Alina Parast, senior vice president and CIO of ChampionX, discussed the challenges the oilfield services sector is facing with regard to supply chain disruptions.
Russia Seeks $220 Million in Unpaid Taxes from Exxon
2023-01-31 - The Sakhalin regional court website lists a claim against Exxon Neftegaz Ltd, Exxon's Russian subsidiary, and the case's hearing scheduled for Feb. 28.
Raising the Bar for ROV Operator Performance by Lowering the Bar for Entry
2023-01-31 - Technology companies Greensea and Blue Ring’s partnership helps ROV operators become situationally aware without having to “context switch” from task to task.
Russia Boosts LNG Exports to Europe by 20% in 2022
2023-01-31 - According to Refinitiv data, Russian gas exports to Europe dropped to a new post-Soviet low in 2022, but its total LNG exports rose to approximately 33 million tonnes, with more than half of it going to Europe.