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ExxonMobil CEO ignores Ground Zero of Energy Security

In a speech...at the Council on Foreign Relations, ExxonMobil CEO...spoke about energy security, which he defined as “securing access to energy in a reliable, relatively affordable way.” He...emphasiz[ed] the technology his company invests in to mitigate environmental risks, saying that “as long as we as an industry follow good engineering practices and standards, these risks are entirely manageable.” However, energy security is fundamentally about social risk, which cannot be engineered away...Ground Zero of energy security is not macro but micro, comprising the hundreds of individual projects of companies like ExxonMobil around the world. The stability and continuity of these projects is the direct responsibility of the operating companies...Yes, technology is important...But companies cannot focus solely on technological innovation while ignoring the human dimensions of their business.

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