ConocoPhillips Chairman and CEO Ryan Lance has witnessed firsthand the evolution of his industry – from rough-necking to hard science.
He began his career in the trenches and now leads a team on the cutting edge of innovation – working to protect the environment and America’s energy independence. Technicians for the world giant in independent exploration and production can direct drill heads to pinpoint spots miles below the surface. The industry advances have brought results.
"Over the last two years alone, 40 percent of the U.S. GDP growth came from oil and gas,” Lance says, before adding: “And we did this through technology. Yes, oil is a high-tech business."
Lance, during a visit to the U.S. Chamber of Commerce last week, sat down to give us an exclusive look at his tenure and how he sees the oil and gas industry today – and tomorrow.
The Institute for 21st Century Energy and the U.S. Chamber of Commerce's Foundation hosted a conversation with Ryan Lance, chairman and chief executive officer, ConocoPhillips.
Mr. Lance discussed how the oil and natural gas renaissance has brightened the U.S. energy outlook through increased production, reduced imports, and promoted job creation, improved balance of trade and economic stimulation. However, growing "light" oil volumes from shale will soon exceed domestic refining capacity and thus slow future development, impacting the economy. Mr. Lance suggests that rescinding the current ban on crude oil exports can keep the renaissance moving forward. Christopher Guith, Energy Institute Senior Vice President for Policy, discusses how the boom in domestic natural gal and oil production is good for Colorado and the U.S.
Christopher Guith, Energy Institute Senior Vice President for Policy, discusses how the boom in domestic natural gal and oil production is good for Colorado and the U.S.
For more than 6 years, Americans have been waiting for the jobs and economic opportunities that will come with building the Keystone XL pipeline. The Senate and House have passed a bill approving the permit for building the pipeline and now we're waiting for President Obama to make his decision. Last year, we went on a tour to hear from people along the pipeline route about the lost opportunities they have seen due to the bureaucratic delays. Learn more at http://www.energyxxi.org/kxltour.