The oil giant’s leader said the Inflation Reduction Act is creating jobs and a clean energy supply chain.President Joe Biden’s climate agenda got a surprise endorsement Tuesday from the leader of one of the world’s largest oil companies.
Sawan spoke at the think tank ahead of a visit to Capitol Hill, where he said he plans to make a request for stability — both in terms of climate technology incentives and permitting of liquefied natural gas, or LNG. The Shell CEO highlighted the potential of LNG to offset the use of coal in power generation and some industrial processes in Asia and Europe. He also cast doubt on the viability of building import terminals that could be overhauled in the coming decades to import hydrogen that’s produced using renewables, an approach
At the think tank event, Sawan distanced Shell from oil major Exxon Mobil on the issue of shareholder resolutions.over climate proposals that the oil company argues would harm investors.