New Energy
Total CEO Says World Must Adapt to Warming as Oil Thirst Lingers
- Demand likely to remain above 100 million b/d as late as 2040
- Firm sees criticism despite $5 billion annual low-carbon spend
Patrick Pouyanne at the Abu Dhabi International Petroleum Exhibition and Conference.
Photographer: Christopher Pike/BloombergThe world could still be using more than 100 million barrels a day of oil by 2040, making it vital to start preparing and adapting for a warmer climate, said TotalEnergies SE Chief Executive Officer Patrick Pouyanne.
The warning from the outspoken 60-year-old Frenchman carries some weight, as under his leadership TotalEnergies is investing $5 billion a year into low-carbon fuels and renewables, while remaining a major supplier of oil and gas. The fact is that “it will take time” to build a clean global energy system that can satisfy the demands of a growing population, Pouyanne said.