Continue Reading Below
Former Shell Oil President John Hofmeister told FOX Business he isn’t expecting any miracles.
“The energy companies will hear the Holy Father's view,” Hofmeister said to Stuart Varney on “Varney & Co.” on Friday. “But I think the Holy Father and his associates need also to learn about the scale, scope and importance of energy to poor people all over the world.”
The conference, which is being called the “Energy Transition and Care for Our Common Home," will be a follow-up to the pope’s 2015 encyclical on climate change that called for a transition away from fossil fuels.
But Hofmesiter said the pope’s ideology makes “no common sense.”
“There are still 2 billion people in the world that have almost zero access to energy as we know it,” he added.
The Vatican has not confirmed which companies will be in attendance but, according to sources, senior executives from companies including Exxon Mobil, Eni, BP, Royal Dutch Shell, Norway’s Equinor and Pemex were expected, Reuters said.
The session would mark the second time Pope Francis wades into big business.
In a financial manifesto released in May the Vatican slammed credit default swaps for encouraging unethical behavior.