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PESA President Talks Energy Transition, Future of Energy With Halliburton Labs Advisory Board

PESA President Leslie Beyer analyzed energy trends, changes in the energy landscape, and the factors driving energy transition during a panel discussion for the Halliburton Labs Advisory Board. 

The panel was moderated by Bill Kingsley, Senior Vice President and Board Member in Residence, Mach 49. Panelists included Maynard Holt, CEO of Tudor, Pickering, Holt & Co., and Alex Robart, Energy Industry Strategy Leader with Microsoft

Beyer anticipates increased growth in ESG and activist investing in 2021 and beyond. The oilfield sector must increasingly control costs and produce healthy returns to attract capital in this environment, as well as show success towards reduced emissions and improved environmental performance. 

The old walls in energy development are coming down, Beyer said. Now and moving forward, companies are focused on cutting edge technology that develops energy through oil and gas as well as renewables — with specific regional focus on fuel sources.  

She emphasized that OFS companies have a history of leading transformative technological innovations that scale to meet the world’s energy needs. The OFS sector will be key leaders in the industry achieving climate goals, Beyer said. 

“The majors are making carbon reduction and setting net zero goals,” Beyer said. “Then they’re turning to their OFS sector partners and saying, ‘How are you going to help us get there?’” 

Beyer said the OFS sector is well-positioned to diversify and support renewable energy generation because the supply chains are similar. Several PESA Members are already involved in renewable and cleaner energy production technologies, including hydrogen, offshore wind, carbon capture, biofuels, and geothermal. 

PESA is preparing to work with the incoming Biden Administration, Beyer told the panel. She said the association’s key messages to Biden officials on the value of the OFS sector would include highlighting the 600,000-plus energy jobs, legacy of delivering scalable technological innovations that increase supply while reducing environmental impact, necessity of oil and gas resources to meet rising demand around the globe, and practicality of adapting existing infrastructure to transport liquid fuel sources.

She said PESA would urge the Department of Energy to invest in developing technologies that can help make using oil and gas cleaner rather than seeking to shut down a vast energy resource with a well-established global infrastructure. 

Beyer told the panel that OFS sector companies must tell the stories of the enormous progress made and technological innovations in the works. 

“Messaging on technological solutions and jobs will be key during the next administration,” she said. “Halliburton Labs is key to both angles. OFS companies are the vehicles to facilitate the stated goals of the incoming administration.”



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