Missouri S&T graduate Richard Stegemeier comes to the global warming debate from his perspective as the former chief executive officer of a big oil company. Dr. Stegemeier questions whether or not fossil fuels have really made a big impact on the environment. But that need not be a controversial stance, as far as he's concerned.
Stegemeier, former chair and chief executive officer of Unocal Corp., thinks global warming fears will soon be replaced almost entirely with energy concerns. Regardless of what you believe about global warming, Stegemeier says there aren’t enough fossil fuels left to cause major damage to the environment. “By 2050, the amount of emissions will be falling no matter what we do,” he told a Missouri S&T audience last Friday.
Stegemeier, a member of the National Academy of Engineering, gave his guest lecture, “Global Warming -- Physical or Political Science?”, to an overflowing crowd in the Havener Center on April 4. As part of his presentation, he attempted to demonstrate that, since the last ice age, the Earth has been going through a long-lasting period of global warming with some fluctuations. He also said that sea levels have been continuously rising since the last ice age.
But what Stegemeier is focused on is the rapid decline of fossil fuel resources. He says oil, gas and coal reserves have reached peak levels, or will very soon, and that demand for energy is exploding. He recommends a renewed emphasis on nuclear power and calls for young minds to help solve the impending energy crisis.
During his 45-year career with Unocal, Stegemeier worked in the United States, Japan, Australia, Borneo, Sumatra, Bangladesh, Burma, India, Pakistan and the Philippines.
When he became president and CEO of Unocal in 1985, the price of oil had dropped from $29 per barrel to $12 per barrel, and the corporation was fighting off a hostile takeover from tycoon T. Boone Pickens. Under Stegemeier, the corporation survived and thrived, becoming the ninth largest oil company in the U.S. Unocal eventually merged with Chevron Corp. in 2005.
Stegemeier is on the board of directors of 11 U.S. companies. In 1998, he was awarded the American Petroleum Institute’s Gold Medal for Distinguished Achievement.
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