"Oil and gas, a critical role for a long time" - Exxon Mobil CEO: Major contributors to climate change
Oil and gas will play a critical role for a long time, said Exxon Mobil CEO Darren Woods, adding that the question was whether they would continue to be used as fuels.
While future technological advances may bring a change in the burning of hydrocarbons, they will continue to be used for other purposes, such as the medical sector, Woods said.
"Crude oil and hydrocarbons will play a critical role in everyone's lives for a long time," Woods said. Carbon emissions from fossil fuels like oil and gas, but also coal, are a major contributor to climate change.
"The question is, do you continue to burn them? And that, I think, will change over time, depending on how the technology develops," he said.
Earlier this week, the UN said the world would exceed its goal of keeping global warming below the 1.5 degrees Celsius target set at the 2015 Paris climate conference.
Woods said policymakers are making decisions without having the full picture, adding that effective carbon accounting is needed to properly track emissions.
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