Chevron Director Questions Future of Oil Industry in Tweet

• February 28 2018
• Joe Carroll, Javier Blas

Chevron Corp.’s youngest director questioned the future of an industry the world’s third-largest oil explorer helps lead.

Chevron Corp.’s youngest director questioned the future of an industry the world’s third-largest oil explorer helps lead.

Dambisa Moyo, an economist and author who joined Chevron’s board in October 2016, on Wednesday tweeted, “If #oil energy consumption is declining and #renewableenergy consumption is on the #rise, what does that mean for the future of the oil industry?”

Her tweet concluded with, “#energy #fall #environment #getsmarter #happywarrior,” along with two charts credited to CNBC. Chevron is the No. 3 oil producer by market value, behind Exxon Mobil Corp. and Royal Dutch Shell Plc.

Phone and email messages seeking comment from Chevron’s San Ramon, California, headquarters weren’t immediately returned. But in a U.S. filing last week, the company said its forecasts already “reflect long-range effects from renewable fuel penetration, energy efficiency standards, climate-related policy actions, and demand response to oil and natural gas prices.”