OTC: Oil companies responding to global warming

For the second consecutive year, the Offshore Technology Conference featured a well-attended session on climate change. Scientists who are globally recognized experts on climate change presented their views and discussed their observations.

John Cain, principal carbon management advisor with Chevron’s Health, Environment, and Safety Department, helped OTC organizers select this year’s panelists. He consults with Chevron’s worldwide operations on issues pertaining to greenhouse gas management.

Cain was unable to participate in the panel discussion. But in comments prepared before the May 6 OTC session, he notes considerable uncertainty exists regarding the likelihood, timing, and magnitude of potential impacts related to changes in the earth’s climate. Uncertainty also exists regarding the most effective way to address risks, he said.

“Nonetheless, the oil and gas industry has undertaken prudent steps to address GHG emissions," he said. These steps include:
--increasing energy efficiency.
--investing in renewables and alternative energies.
--eliminating routine flaring and venting where commercially feasible.
--leading efforts to develop and commercialize carbon capture and storage.

Cain suggests policymakers “recognize the important role that fossil fuels will play for decades to come in providing the energy that is necessary for continued economic growth.”