February 28, 2018 / 3:25 PM / 7 months ago

Chevron board member tweet implies support for renewable technologies

HOUSTON, Feb 28 (Reuters) - A member of Chevron Corp’s board of directors sent a tweet on Wednesday that implied the oil industry must do more to adopt renewable energy technologies in order to survive.

“If #oil energy consumption is declining and #renewableenergy consumption is on the #rise, what does that mean for the future of the oil industry?” Dambisa Moyo, an economist and author who joined the oil company’s board in 2016, wrote on Twitter.

The tweet was accompanied by two graphics, one showing oil consumption slipping from 2005 through 2015 and the other showing renewable energy consumption rising across the same period.

The tweet comes as Chevron, Exxon Mobil Corp and other oil producers are under increasing pressure to invest less in oil projects and more in solar, wind and other renewable energy technologies.

An active presence on the social media platform with 189,000 followers, Moyo added several hashtags to her post that have been associated in the past with activists pushing for greater adoption of renewables by oil producers, including “#environment,” “#getsmarter” and “#happywarrior.”

Moyo could not immediately be reached for additional comment. A Chevron representative was not immediately available to comment.

Moyo, who tweets under the handle @dambisamoyo, is also a board member of Barclays Plc and Barrick Gold Corp .

John Watson, who retired as Chevron’s chairman and chief executive earlier this month, told Reuters last fall that he did not see demand for oil peaking in the foreseeable future.

The view is widely shared in the oil industry and leaders of the world’s biggest oil companies are not buying the argument that their traditional business faces any imminent threat from climate change policies or renewable technologies.

The International Energy Agency said earlier this month it expects global oil demand to rise 1.4 million barrels per day this year.

Reporting by Ernest Scheyder; Editing by Jonathan Oatis

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