Char­lie Rose talks with Chevron CEO John Wat­son

Chevron’s CEO dis­cusses oil’s wild ride, fos­sil fu­els’ fu­ture, and his com­pany’s $19 bil­lion le­gal bat­tle in Ecuador

Bloomberg Businessweek (North America) - - Companies/Industries -

How do you an­swer when some­one asks about the prospects for fos­sil fu­els? If you think about the last 150 years, all the ad­vance­ments in liv­ing stan­dards, ev­ery­thing that we en­joy—light, heat, trans­porta­tion by land, sea, and air—ev­ery­thing we value is co­in­ci­dent with fos­sil fu­els. New York would be dark with­out them. Fos­sil fu­els are im­por­tant now and will be for many, many years to come. It’s go­ing to take nu­clear. It’s go­ing to take coal. It’s go­ing to take re­new­ables. Re­mem­ber, the de­vel­op­ing world needs all this en­ergy to raise liv­ing stan­dards, be­cause they as­pire to the things that we have.

“I would say the power has shifted to­ward reg­u­la­tors in this coun­try. I don’t think it’s a co­in­ci­dence that we’re see­ing sub­par eco­nomic growth”

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