Cenovus CEO says future of energy is 'diversification,' not 'transition'

The chief executive of Cenovus Energy Inc. says he believes the future of energy is going to be less about transition and more about diversification. Alex Pourbaix says the clash between global energy demand and the need to reduce emissions to mitigate climate change is the biggest single issue facing the oil and gas industry in 2022. He says the war in Ukraine and the resulting global energy crisis has proven that oil and gas can't easily or quickly be replaced by wind and solar. He says instea