“Oil and gas is going to be very, very important for decades to come. Renewables are growing, but not really at the expense of any other energy sources but coal,” said Miller, former CEO of National Oilwell Varco, now Chairman of the Board of MHWirth.
His belief in the industry, which he has been an integral part of during a long career, remains strong. And Miller offered documentation.
“If you are a country in South-East Asia, Africa or South America, you aspire to the middle class. You can’t go there without energy. These parts of the world will define the demand of energy,” said Miller.
He predicted that global carbon emissions will continue to grow.
“Is that a disaster?” asked Miller and answered before anyone had a chance to reflect on the question.
“No! We will find ways to solve this. Carbon capture is one option,” said Miller.
He remains optimistic to offshore oil and gas exploration and development of new technology.
“The best technology is always in demand. The best rigs always work. Rigs that offer the safest, most effective, most environmentally friendly technology will be very active,” said Miller.
He sees one profound change in the industry.
“Gas will overtake oil and be more important in years to come. We will have to talk about ‘the gas and oil business’, not ‘the oil and gas business’,” said Pete Miller.
