The New York
Times has for years also hosted a high-priced global summit for the
chieftains of Big Oil.
The Oil & Money summit, which occurs each October in London, will meet for the fortieth time this October 8th to 10th at the luxury Intercontinental London Park Lane hotel. Top speakers this year include the CEOs of BP and Royal Dutch Shell, and the oil ministers of Qatar and Iraq.
The theme, “Strategies for the Energy Transition,” “reflects the crossroads at which the energy industry now finds itself:”
Advances in technology, ranging from electric vehicles and battery charging to solar and wind power promise extensive disruption to existing patterns of energy usage and threaten the dominance of oil and gas in areas like transportation and power generation. But at the same time, technology breakthroughs in other fields have made the exploration and development of petroleum resources cheaper, safer and more efficient.
The overview politely avoids mention of fossil-fueled global warming, referring only to how the oil and gas industry is “harnessing new technologies” to “reduce its carbon footprint.”
The first day’s focus is the natural gas industry—two of the sessions do explicitly mention climate change, in the context of environmentally conscious investors and the promotion of natural gas “as a bridge fuel to a lower carbon economy.”
The second day’s focus is on the geopolitics of the global oil market; the third day discusses what’s needed to keep the U.S. fracking boom going (“technology holds the key to sustaining US tight oil growth once all the best sweet spots have been produced”) and the threat of electric vehicles to the oil industry.
At no point does it appear that the threat of civilizational collapse due to the continued combustion of fossil fuels, nor the industry’s decades-long campaign to thwart government regulation of climate pollution, will be discussed.
Tickets to the summit are $4,195; for another $795 attendees get the benefit of “Toasting the Energy Intelligence Petroleum Executive of the Year with colleagues and clients at the prestigious annual gala dinner.” This year’s honoree is Ben van Beurden, CEO of Royal Dutch Shell.
With about 500 attendees, this one conference raises over two million dollars for the Times and its co-host, the industry publisher Energy Intelligence.
A handful of young oil and gas professionals get to attend the conference with the ironically named “Energy Leaders for Tomorrow” sponsorship.
The New York Times Company’s president of its international business, Stephen Dunbar-Johnson, will be opening the summit. On Twitter, he has frequently professed great concern about the Trump administration’s attacks on climate policy. He has not indicated how he will address the world’s lords of oil.
Climate activists have protested the “climate criminals” at the conference the past several years.
In a statement to DeSmog UK in 2018, a New York Times Company spokeswoman said the conference would “address the transition to a low carbon economy, an issue which has been covered extensively by The New York Times. That transition is unlikely to occur without the participation of the world’s largest energy companies.”
A newer addition to the New York Times Conferences line-up is the New Rules Summit, where the New York Times calls on leaders “to create a boldly inclusive vision of the workplace— and transform it into reality.” Its speakers reflect that mission- 29 of 34 are women, the majority non-white. The New York Times does not appear to be calling on Oil & Money attendees to do the same—only two of the 53 speakers are women. There do not appear to be any black speakers.
The Times’ editorial board purports that “most sentient people agree the world must rapidly wean itself from” fossil fuels “or risk ecological and social disaster.”
By that measure, the Times’ involvement in helping ExxonMobil develop climate-denial and greenwashing advertorials on its pages and website, as well as its organization of the Oil & Money Conference, puts into question the sentience of its leadership.
Oil & Gas Companies in attendance:
- Amoco
- Bapetco
- BP
- Cepsa
- Chevron
- ConocoPhillips
- Eni
- Esso Petroleum
- ExxonMobil
- Gasterra
- GE Oil & Gas
- Igas
- Jogmec
- Lukoil
- Mol
- Omv
- Oryx
- Pluspetrol
- Premier Oil
- Repsol
- Royal Dutch Shell
- Scimitar
- Total
- Tullow Oil
National Oil Companies
- Adnoc
- Gazprom
- Kuwait Petroleum
- Pemex
- Petroleos De Venezuela
- Polish Oil And Gas
- Qatar Petroleum
- Qatar Gas
- Rosneft
- Saudi Aramco
- Sonangol
- Socar Equinor
Advisory Services
- Accenture
- Bain Company
- The Boston Consulting Group
- EY
- Halliburton
- Husseini Energy
- L1 Energy
- KBC
- Mckinsey Company
- Schlumberger
- SBM Offshore
- Weatherford
Financial Services
- Adia
- Atlas Invest
- Bank Of America
- MUFG
- Barclays
- BNP Paribas
- Blackrock
- Carlyle Group
- CHS
- CIBC
- First Reserve
- Glencore
- Goldman Sachs
- Gunvor
- Moody’s Investors
- Morgan Stanley
- Mubadala
- Riverstone
- Schroders
- UBS
Government And Academic Institutions
- ANH
- Executive Affairs Authority
- French Embassy UK
- House Of Commons
- House Of Lords
- IEA
- Oil & Gas Authority
- OPEC
- UK Trade & Investment
- US EIA
- Sciences PO
- University Of Notre Dame
- University Of Texas