Energy

Ridiculous to think we can stop fossil fuel production immediately: CEO

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Fossil fuels are ingrained in the global energy mix and companies continue to discover and develop oil and gas fields at locations around the world.

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LONDON — The CEO of Standard Chartered believes it’s “ridiculous and naive” to think fossil fuel production can be immediately halted without any consequences, stating that while it might be good for the climate, it would have other negative effects.  

In comments made during an interview with CNBC’s Geoff Cutmore at the City Week forum in London on Monday, Bill Winters acknowledged most people would subscribe to what he called a “just transition.”

“Those are two really important words … just means fair, it…



Source cnbc.com

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