Bernard Looney said the transition away from oil and gas must be “orderly” BP CEO Bernard Looney has said more investment in oil and gas is needed in order to ensure an orderly transition away from those same fossil fuels. The British executive made the pitch on Tuesday during International Energy Week in London amid soaring energy prices and climate protests. He explained his logic by arguing that reducing supply “without also reducing demand inevitably leads to price spikes,” and that “price spikes lead to economic volatility.” If that happens, “there’s a risk that volatility will undermine popular support for t
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