A new study warns that AI-driven productivity gains in the fossil fuel industry could outweigh emissions cuts from renewables. The paper, published in npj Climate Action, argues that net emissions reductions require renewables gains four to five times greater than fossil fuel gains. Rystad Energy estimates AI and digitalization will create nearly $500 billion in cumulative value for exploration and production companies between 2026 and 2030. Wood Mackenzie says AI could unlock an extra trillion barrels of oil from producing reservoirs. ExxonMobil and Chevron executives have both cited AI tools in identifying new drilling opportunities, including offshore Guyana.
Chevron CorpChevron executives cited AI tools in identifying new drilling opportunities, including offshore Guyana.
Exxon Mobil CorpExxonMobil executives cited AI tools in identifying new drilling opportunities.
Microsoft Corporation