In the ever-evolving landscape of energy and climate policy, few voices carry as much weight as Christopher Hailstone, a seasoned expert in energy management, renewable energy, and electricity delivery. With a deep understanding of grid reliability and security, Christopher offers a unique perspective on the future of the oil and gas industry and its complex relationship with climate change. In this interview, we delve into the enduring role of hydrocarbons, the potential of technological breakthroughs to transform their use, the challenges of carbon emissions accounting, the gaps in policy decision-making, and the significance of global energy projects. Join us as we explore these critical themes with an expert who bridges the gap between innovation and sustainability.
How do you see the role of oil and gas shaping up in the long term, especially as the world grapples with energy needs and climate goals?
Oil and gas are going to remain a cornerstone of global energy systems for decades, if not longer. The reality is that our modern economy—everything from transportation to manufacturing—still heavily relies on hydrocarbons. But the conversation is shifting. It’s not just about meeting energy demands; it’s about how we use these resources. I believe their role will evolve from primarily being fuels to serving as feedstocks for other industries, like petrochemicals or even medical applications, where alternatives are harder to come by. The challenge is balancing this persistent demand with the urgent need to reduce emissions.
What alternative uses for hydrocarbons do you think will become most significant in the coming years?
Beyond fuel, hydrocarbons have immense value in sectors that often get overlooked in the energy debate. Take the medical field, for instance—many life-saving products, like plastics for medical devices or components in pharmaceuticals, are derived from oil and gas. Then there’s the potential for synthetic materials and high-performance chemicals used in everything from agriculture to technology. As we move away from burning these resources, I expect innovation to drive their use in more sustainable, non-combustive ways, preserving their utility while cutting down on carbon footprints.
What kind of technological advancements could shift the industry away from combusting hydrocarbons, and how close are we to seeing those changes?
Technology is the game-changer here. We’re looking at innovations like advanced carbon capture and storage, which could trap emissions before they hit the atmosphere, and hydrogen production using hydrocarbons without combustion. There’s also exciting work in converting oil and gas into energy through processes that don’t release CO2, like certain catalytic methods. While some of these are still in the lab or pilot stages, others are scaling up. I’d say within the next decade, we could see meaningful deployment, especially if funding and policy support align to accelerate research and adoption.
How do you think major energy companies can balance their operations with the pressing need to cut carbon emissions?
It’s a tightrope walk. On one hand, these companies are tasked with meeting global energy demands—billions of people depend on affordable, reliable power. On the other, fossil fuels are a leading driver of climate change. The way forward is a mix of diversifying energy portfolios with renewables, investing heavily in emission-reducing technologies, and being transparent about progress. It’s not enough to just produce; companies need to actively mitigate their environmental impact through innovation and collaboration with governments and other industries to create systemic change.
You’ve mentioned the importance of proper carbon accounting. Can you unpack what that means and why it’s so critical to climate efforts?
Carbon accounting is essentially tracking emissions across every stage of production and consumption—from extraction to end use. Without it, claims like ‘net zero’ lack substance. It’s critical because you can’t manage what you don’t measure. Right now, there’s inconsistency in how emissions are reported across industries and countries, which muddies the water. A robust, standardized system would give credibility to reduction efforts, help identify the biggest sources of emissions, and ensure accountability. It’s the foundation for any serious climate strategy.
What do policymakers often miss when making decisions about energy and climate, and how can that gap be addressed?
Policymakers sometimes lack the full scope of data—things like the lifecycle emissions of different energy sources or the socioeconomic impacts of rapid transitions. They might focus on short-term wins rather than long-term sustainability. Bridging that gap requires better dialogue with industry experts and scientists who can provide granular insights. It also means investing in accessible, transparent data platforms so decisions are grounded in reality, not just political or public pressure. Collaboration is key; no one can solve this alone.
How do global events like climate conferences influence the direction of the energy industry?
Conferences like the upcoming COP30 in Brazil are pivotal. They’re not just talk shops—they set the tone for international commitments and signal where investments and policies are headed. For the energy industry, these events can spur innovation by highlighting urgent needs and fostering partnerships. They also put pressure on companies to align with global goals, whether through voluntary action or regulation. While progress can be slow, these gatherings often catalyze the momentum needed for systemic shifts in how we produce and consume energy.
What excites you about opportunities for energy companies in regions like the Middle East, and what challenges do they face there?
The Middle East, with projects like those in Iraq, offers immense potential due to vast reserves and strategic importance in global energy markets. For companies, it’s exciting to tap into fields like Majnoon, which could boost production and strengthen energy security. But the challenges are significant—political instability, regulatory hurdles, and the need to ensure investments benefit local communities. It’s about crafting agreements that are mutually beneficial, which takes time and careful negotiation to get right.
What is your forecast for the future of oil and gas in a world increasingly focused on sustainability?
I see oil and gas maintaining a significant presence, but their purpose will shift dramatically over the next few decades. As sustainability takes center stage, we’ll likely see a decline in their use as fuels, replaced by cleaner alternatives like renewables and hydrogen. However, their role in non-combustive applications—think materials and chemicals—will grow. The industry’s future hinges on adaptability: those who invest in innovation and align with global climate goals will thrive, while others risk obsolescence. It’s a transition, not a disappearance, but it won’t be easy or uniform across the globe.
