PATH FORWARD: Industry Not Moving Away from Oil Anytime Soon

Oil and gas companies are progressing toward “eco-friendly” operations, but there is no reason for them to transition away from fossil fuels, says industry veteran Dr. Jerry Bailey, director of Petroteq Energy and former president of Exxon Arabian Gulf.

PATH FORWARD: Industry Not Moving Away from Oil Anytime Soon

Even though oil and gas companies are increasingly focusing on reducing the environmental impact of their operations with aggressive efforts centered on the narrative of energy transition, they aren’t going to move away from fossil fuels, at least over the next few decades, according to Dr. Jerry Bailey, director of Petroteq Energy and former president of Exxon Arabian Gulf.

“Oil companies are not going to move from oil, that’s what got them where they are,” Bailey said, in a recent interview with Hart Energy’s Faiza Rizvi.

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Faiza Rizvi

Faiza Rizvi is a senior editor of ESG for Hart Energy's editorial department, with a strong focus on E&P Plus and HartEnergy.com. She has been covering all facets of the U.S. and international energy industry for over 5 years.