Chevron CEO Lays Out Firm's Green Energy Goals

Chevron is investing $10 billion in lower carbon technology over seven years, focusing on hydrogen, renewable natural gas, and carbon capture. The company aims to spend 10% of its budget on energy transition, increasing from 2%. Chevron's strategy contrasts with European peers like BP and Shell, who focus more on renewables. CEO Mike Wirth discusses long-term investment strategies, price sensitivity, and the business cases for renewable energy. Chevron evaluates carbon intensity in its portfolio and future investments, aiming to manage assets responsibly and avoid stranded assets.

What percentage of its budget is Chevron planning to allocate to energy transition?

• 5%

• 10%

• 15%

• 20%

How does Chevron's approach to renewable energy differ from that of BP and Shell?

• Chevron focuses more on wind and solar.

• Chevron is investing in hydrogen and carbon capture.

• Chevron is reducing its oil production.

• Chevron has set long-term net-zero targets.

In which state is Chevron focusing its investment due to favorable carbon pricing policies?

• Texas

• New York

• Florida

• California

What is Chevron's approach to capital allocation in response to commodity price fluctuations?

• Immediate changes

• No changes

• Short-term adjustments

• Long-term view

What process does Chevron use to evaluate the carbon intensity of its projects?

• Carbon offsetting

• Marginal abatement cost

• Lifecycle assessment

• Carbon footprint analysis

How does Chevron plan to avoid stranded assets?

• By halting all new investments

• By selling high carbon intensity assets

• By investing in renewable energy only

• By ensuring projects remain viable

What is Chevron's view on the transition to lower carbon energy?

• It will be gradual and seeable.

• It will be rapid and immediate.

• It will be unpredictable.

• It will not happen.