ConocoPhillips CEO: Social media is ‘double-edged sword’

HOUSTON – ConocoPhillips CEO Ryan Lance said Tuesday that Twitter and other social media tools are helping the oil-and-gas giant communicate but are also providing critics a platform to quickly spread attacks.

“It is a tremendous opportunity,” he said at a major energy conference here, adding that the company is embracing social media.

“It can be a double-edged sword, but the opportunity there is the real alignment that it drives in terms of where you are trying to take the company and make sure everybody knows the direction you are going,” Lance said at the IHS CERAWeek conference.

But Lance also noted that industry critics, who he alleged have unfairly attacked energy development from shale formations, use the same tools.

“It doesn’t take long for critical stories and videos to spread in today’s 24/7 Twitter world. So we must always demonstrate environmental stewardship, safety and good community relations,” Lance said.