At "Super Bowl of the energy industry," war in the Middle East is the hot topic

Top brass at the most consequential energy companies in the world are meeting in Houston this week for what’s known as “the Super Bowl of energy.” Speakers at the annual CERAWeek conference this year include U.S. Energy Secretary Chris Wright, Venezuelan opposition leader and Nobel Peace Prize winner Maria Corina Machado, as well as executives from Shell, Chevron, and even companies like Ford and Nvidia.

Energy industry leaders are meeting at a time when war in the Middle East has caused a major disruption to global oil and gas supply.

“We're in the middle of a conflict that's probably lasting longer than people expected. Has taken different turns than people expected. There's a lot of questions about, ‘How will this play out?’ and ‘What's the longer-term implication?’” said Dan Pickering, chief investment officer at Pickering Energy Partners.

The energy world is at a pivotal point, according to Atul Arya, chief energy strategist with S&P Global, which puts on the event.

“I think what is happening this now in the Middle East is probably the most monumental disruption in the world of energy, in the entire history of modern energy world,” he said.

Thousands of people will attend CERAWeek, shelling out as much as $11,000 a ticket.

Karr Ingham, president of the Texas Alliance of Energy Producers, is keen on hearing how crude oil prices will be affected by the Middle East war.

“This is now shifting to a discussion about a longer-term price scenario that is much higher — much higher than it has been for most of the last three or four years,” he said.

The conference will shed light on how companies are responding to a chaotic energy landscape.