Houston has an important role to play in the energy transition, and that role was fully discussed at a recent conference taking place in the Bayou City.
This week, Houston hosted the 10X Summit: The Future Is Here, an event of Ten Across – an organization that focuses on social, economic, and climate change issues throughout the region around the Interstate 10 from Los Angeles to Jacksonville. The three-day conference featured guest speakers who spoke on sustainability, water, the future of energy, and more.
Among these speakers include several Houston researchers, political figures, and innovators – and most of their conversations overlapped related topics and themes, from the legacy and impact of Hurricane Harvey in the business community to the role the city will play in the energy transition.
When it comes to the energy transition, here are the key messages Houston leaders shared with 10X attendees.
The energy transition wouldn’t happen without Houston
The topic of energy transition came out of the gate for the summit. At the welcome reception last Tuesday, Bobby Tudor, CEO of Artemis Energy Partners and founder and former CEO of Tudor, Pickering, Holt & Co., talks about the evolution of the industry and how Houston is a major factor in the success of the energy transition.
“I don’t think (the energy transition) would have happened without (Houston),” Tudor said in a fireside chat with Wellington Reiter, executive director of Ten Across. “There is an idea that transition is inevitable. It is inevitable – if our technology continues to improve and improve, if new assets are deployed, if capital supports them, and if the people who know and understand the energy systems depend on it to make it happen.”
For Tudor, who served as chairman of the Greater Houston Partnership in 2020 and has made it his mission to communicate the importance of the industry’s evolution during his tenure, Houston businesses motivated by business opportunities should look- energy transfer well.
“We’re so good in Houston that, if we see a dollar bill put on the ground, we’ll bend over and take it. Right now, there’s an incredible opportunity in the energy transfer space,” he said. “We have both the responsibility and the opportunity to be leaders in the global energy transition.”
Mayor Sylvester Turner in his chat with Reiter on Thursday addressed how some think Houston — a headquarters for some of the biggest oil and gas giants — might not be the right city to be in. lead to a cleaner energy system, but Turner argues that’s exactly the point. must happen here.
“We are the energy capital of the world,” he said. “The reality is that we have some of the largest greenhouse gas emitters located right here in Houston. To the extent of leading an energy transition, the impact is not just local. The impact is whole world.”
Barbara Burger, former president of Chevron Technology Ventures and an energy tech startup mentor and investor, explained how important the relationship between the energy industry and Houston is.
“As the energy system evolves, so does Houston,” he said. “I think this is our opportunity to lose.”
The role of corporate incumbents
Burger’s discussion, which took place on Wednesday, spoke about the role of incumbents – corporations that have been operating in the energy industry for decades – in the transition. He explained how the process cannot proceed without these parties.
“The incumbents need to be part of the energy transition. There are parts of our society that don’t want them to be, and I see that as bad,” he said. “One, we’re not going to decarbonize the energy system unless they’re part of it. Second, there are a lot of skills and capabilities and assets among the incumbents to do that.
“What I don’t think the incumbents will do is they won’t lead it,” he continued. “Many will be the leaders of the new energy system, but they will not be the first on the hill.”
Burger compared energy and the auto industry. Tesla acted as a disruptor to the big car companies, and then they followed suit. The disruptors and enablers in the energy industry can be a combination of startups, investors, governments, universities, and employee bases.
“We are not going to reject the current energy system,” he said. “Let’s change it and use it again.”
Houston has the ingredients
Tudor addresses the existing infrastructure – from physical pipelines to expertise and workforce – that exists in Houston, making for an ideal location for innovation and growth to transition.
“For a number of reasons, it is very clear that unless Houston leans forward, we will not find the solutions we need to transition our energy systems to much lower CO2 emissions,” he said.
GHP established the Houston Energy Transition Initiative in 2021 to focus Houston’s efforts on the energy future. Tudor says that this initiative is focused on what the city can do now – attract clean energy startups, develop a hydrogen hub, build facilities for the production of green hydrogen – to lead to a better future.
“We want to look 20 years from now and see that Houston is still — if not more than — the energy capital of the world,” he said. look now. And that means Houston looks very different than it does today.
Burger highlighted some challenges – as well as opportunities – for the city considering its long history in the sector.
“Houston benefits from a vibrant, strong US energy industry,” he said. “Keeping strong companies and keeping Houston attractive for energy business is important.”
