Innovation, Not Diversification, Is The Key The Oil And Gas Industry’s Survival

  • Date: 28-Apr-2021
  • Source: Forbes
  • Sector:Oil & Gas
  • Country:Gulf
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Innovation, Not Diversification, Is The Key The Oil And Gas Industry’s Survival

Delegates and experts attend the opening ceremony of the 48th session of the Intergovernmental Panel ... [+] on Climate Change (IPCC) in Incheon on October 1, 2018. (Photo by Jung Yeon-je / AFP) (Photo credit should read JUNG YEON-JE/AFP via Getty Images)

Yesterday I wrote about some tone-deaf advice provided by Energy Secretary Jennifer Granholm to the oil and gas industry. Granholm advised oil and natural gas companies they must diversify if they want to survive. The Secretary would have been more on-point had she advised them to innovate, because that's what is inevitably going to happen. History tells us that that is what this industry always does to survive and thrive in a constantly changing world.