Chevron CEO Says LNG Not as Clean as Renewables and More Costly Than Coal

Commodities15 days ago

Chevron chief executive Mike Wirth believes that neither the environmental profile nor the pricing of liquefied natural gas is competitive compared to other energy alternatives. In remarks reported by journalist Javier Blas on Oct. 6, Wirth stated that the fuel is "not as clean as renewables, and it's not as affordable as coal."

The assessment focuses on the relative position of LNG in a market where it competes with both decarbonization targets and the lower operational costs of coal-fired power. Wirth is the leader of one of the world's largest oil and gas producers.

Mapped to your portfolio

Possible scenarios

35%Chevron Reframes LNG-0.0%
25%LNG Lobby Pushes Back-0.0%
25%Policy Scrutiny Tightens+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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Chevron CEO Says LNG Not as Clean as Renewables and More Costly Than Coal

In this story

Mike Wirth Chevron

$CVXChevron Corp.

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

35%Chevron Reframes LNG-0.0%
25%LNG Lobby Pushes Back-0.0%
25%Policy Scrutiny Tightens+0.0%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.