"The CEO called for a reset of the strategy that focuses on reducing emissions, not phasing out oil and gas." In what fantasy universe does oil, once extracted

"The CEO called for a reset of the strategy that focuses on reducing emissions, not phasing out oil and gas." In what fantasy universe does oil, once extracted, not turn into CO2 emissions shortly after? Carbon capture hasn't been shown to work economical, at scale, anywhere afaik. Despite huge investments. Ok you can have plastics or other uses like lubricants or paints. No wait... much of that is single use & at best ends up as CO2 as well.