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Fracking giant Liberty Energy says fossil fuels to rule for decades

"We're investing a lot of money in some new energy technologies; some of this is great, but it's not an energy transition," Wright, chief executive officer at Denver-based Liberty Energy said

Photo: Bloomberg
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The renewable contribution to US electricity generation, for example, has more than doubled in the past two decades. (Photo: Bloomberg)

David Wethe and Caroline Hyde | Bloomberg
Chris Wright, who runs America’s second-biggest frack services company, said there’s no energy transition underway and warned subsidies for wind and solar will only drive up power prices and increase grid instability.
 
“We’re investing a lot of money in some new energy technologies; some of this is great, but it’s not an energy transition,” Wright, chief executive officer at Denver-based Liberty Energy Inc., said during a Bloomberg TV interview on Monday. “Three decades from now the vast majority of energy will come from hydrocarbons.”

Wright’s comments are in stark contrast to the positions mapped out by other oil and

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First Published: Aug 30 2022 | 9:24 AM IST

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