Oil CEOs raise alarm over market's readiness to drop fossil fuels

Government proposals to halt investments in new oil, gas and coal production "didn't do anything about the demand side or inflation," ConocoPhillips Chief Executive Ryan Lance told a panel discussion.

HOUSTON: A coming transition from oil and gas to renewables will be "messy" for many years and lead to sharp energy price volatility as demand and supply clash, top energy executives said on Tuesday.

The World Petroleum Congress, a gathering to discuss the future of oil and gas and explore new technologies, emerged as a counterpoint to last month's COP26 climate change conference. Where COP26 delegates warned of a climate catastrophe, oil executives predicted uncertain future for energy markets.