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 is Chevron's approach to capital allocation in relation to oil price fluctuations?

What challenges does Chevron face regarding the pricing of green energy products?

How does Chevron plan to address carbon intensity in its current and future projects?