Royal Dutch Shell – one of the world's largest energy companies – believes that natural gas will provide an important bridge between today's oil-dependent economy and a future dominated by renewable sources.
The chief executive officer of the Dutch firm, Peter Voser, explained his position on natural gas at the Oil and Money conference taking place this week in London, reports the Financial Times.
"A greater reliance on natural gas would cut greenhouse gas emissions and buy society time to make a less expensive transition to new nuclear and offshore wind electricity generation," Voser said, according to the FT.
Natural gas is much "greener" than oil in terms of carbon emissions, and the technology for efficient gas-fired plants is much farther advanced than wind or solar facilities, while nuclear power faces political and popular roadblocks.
It's interesting to hear such frank speech from the Royal Dutch Shell CEO about a future transitioning away from oil and towards alternative sources of energy.
West Texas Intermediate light, sweet crude oil futures dropped 0.83 percent to $81.97 per barrel today. Natural gas futures lost 1.34 percent to $3.602 per million British thermal units (BTUs).
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