Houston (AFP) – Energy industry leaders will converge on Texas this week for an annual conference dominated by oil and gas supply disruptions from the war launched by the United States and Israel against Iran. More than 10,000 attendees are expected for CERAWeek, the spring gathering in Houston that has taken on unexpected importance as fuel prices soar since the Mideast war began in late February.
“It will be a CERAWeek for the ages,” said Mark Brownstein, senior vice president of energy at the Environmental Defense Fund. The attacks on critical energy facilities in Iran, Qatar, and other Gulf countries have exacerbated a global oil and gas supply picture already upended by the de facto closure of the Strait of Hormuz. “We’re looking at the biggest disruption in world oil in history,” said Daniel Yergin, vice chairman of S&P Global and the chair of the conference. “Nothing like this is on this scale has occurred before.”
From Monday, the conference will bring together experts from industry, finance, government, and academia to discuss energy and myriad related topics, including international trade, artificial intelligence, the hunt for critical minerals, and the prospects for new nuclear capacity. Of particular interest will be a Monday morning session with US Energy Secretary Chris Wright, a critical player in President Donald Trump’s administration’s response to the recent surge in gasoline prices. Other big names appearing at CERAWeek include Chevron chief Mike Wirth, TotalEnergies chief Patrick Pouyanne, Shell chief Wael Sawan, Saudi Aramco’s Amin Nasser, and Cheniere Energy boss Jack Fusco.
Beyond the Middle East war, much of the attention this year will again focus on the profound reorientation of US energy and environmental policy under Trump. Since returning to the White House in January 2025, he has embraced fossil fuels, including coal, while tearing up most of his predecessor Joe Biden’s policies aimed at mitigating climate change. His attacks on policies that encouraged electric vehicles and renewable energy have infuriated environmentalists, including the Texas Campaign for the Environment, an NGO that plans a rally on the first day of CERAWeek.
This year’s conference also features a plenary event with Venezuelan opposition leader and Nobel Peace Prize laureate Maria Corina Machado, who will speak Tuesday night on “the Future of Venezuela.” Despite its vast natural resources, including the world’s biggest proven oil reserves, Venezuela has seen its energy sector deteriorate due to US restrictions on foreign investment and the Venezuelan government’s mismanagement and underinvestment. However, the US seizure of President Nicolas Maduro on January 3 has opened up new possibilities, as Washington has lifted key sanctions while prodding oil giants to return to the country. “I’m thrilled to show the world what a new Venezuela will achieve by unleashing our limitless energy potential,” Machado posted about CERAWeek on X.
© 2024 AFP
