Jennifer Granholm’s Tone Deaf Advice For The Oil And Gas Industry

Jennifer Granholm’s Tone Deaf Advice For The Oil And Gas Industry

Share to Linkedin WASHINGTON, DC - APRIL 08: U. S. Energy Secretary Jennifer Granholm speaks during a daily press ... [+] briefing in the James Brady Press Briefing Room of the White House April 8, 2021 in Washington, DC. White House Press Secretary Jen Psaki held the briefing to answer questions from members of the press. (Photo by Alex Wong/Getty Images) On a Zoom call Monday, Energy Secretary Jennifer Granholm essentially warned oil and gas company executives that their industry is dying, advising them to diversify their business portfolios or risk becoming like Blockbuster or Kodak, two former corporate behemoths that famously failed to adopt to rapid shifts in their markets. "The bottom line is you have got to move," Granholm said, as quoted by Argus. "You cannot hang on and be the Kodak or the Blockbuster Video of the energy world. You have got to diversify." Apparently referring to announced plans by major, integrated companies like BP and Shell for diversification over the coming decades, as well as ExxonMobil's XOM proposal last week to turn the Houston/Gulf of Mexico region into an enterprise zone for carbon capture projects, Granholm went on to note that "Some of the oil companies