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Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’

Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’ thumbnail

Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday.

“In the real world, the current transition strategy is visibly failing on most fronts,” Saudi Aramco Chief Executive Amin Nasser said at the CERAWeek conference in Houston.

Fossil fuels accounted for 82 percent of global consumption last year, according to a report from consultancy KPMG cited by Nasser, who noted that the International Energy Agency has said oil demand could hit a record this year.

“This is hardly the future picture some have been painting,” Nasser said.

“All this strengthens the view that peak oil and gas is unlikely for some time to come, let alone 2030,” added Nasser, alluding to a medium-term target that has been seen as a potential phaseout date for crude.

Joining Nasser in speaking skeptically of an imminent energy revolution was ExxonMobil Chief Executive Darren Woods, who said “we’re not on the path” to reaching net zero emissions by 2050.

“One of the challenges here is that while society wants to see emissions reduced, nobody wants to pay for it,” Woods said.

Nasser called for policies more in tune with the “real world.”

While alternative energy can reduce emissions, “when the world does focus on reducing emission from hydrocarbons, it achieves much better results,” Nasser said.

Last year’s COP28 conference included a call for a transition away from fossil fuels.

But Nasser said the world should “abandon the fantasy of phasing out oil and gas and instead invest in them adequately reflecting realistic demand assumptions.”

With AFP

– Al Arabiya

15 Comments on "Saudi Aramco CEO Amin Nasser says energy transition strategy ‘visibly failing’"

  1. eeedd on Sat, 30th Mar 2024 1:09 am 

    Nobody cares. This is website is dying same as the whole population of earth. The game is over. You need an update flesh body to stay alive.

  2. eee on Sat, 30th Mar 2024 3:12 am 

    As retaliation against South Korean for manipulating their currency and we should close all US military bases on South Korean soil.

  3. eee on Sat, 30th Mar 2024 3:22 am 

    As a form of retaliation against Europe, it is time to close all US militaries bases on Europe soil. We need people to work on rebuilding industrial base of America. If you are not comfortable about telling the Europeans to go fuck themselves, just claim you close the Europe militaries bases because we needed to staff to rebuild Baltimore bridge and beef up the supply chain.

  4. eee on Sat, 30th Mar 2024 3:37 am 

    This website is dying. I am the only one making comments. The population of earth is also dying see 0:03 in the video below. This reality is shutting down.

  5. ee on Sat, 30th Mar 2024 4:14 am 

    I demanded the death of everyone on earth because of Canada stealing my right to carry an handgun on me without a license. Maybe this is what is happening.

  6. eee on Sat, 30th Mar 2024 8:30 am 

    Western businesses in South Korea are ramping up pressure on the country’s new president to abandon what many see as lingering protectionism that undermines its commitments to open up its economy.

    The lobbying comes as Moon Jae-in prepares for a meeting this week with US counterpart Donald Trump, who has threatened to renegotiate or even terminate a landmark trade deal between their two nations.

    As I said before the number of traitors toward the US is way too big and retaliation should be taken on them: Japan, South Korean, UK, Israel, Europe, US foreign affair department, EPA of US, and so many more.

    Every one in the world is laughing at the US because they are such a good host.

  7. eee on Sat, 30th Mar 2024 8:38 am 

    The fact is that the US is fill with traitors: dual citizenship politicians, traitors EPA destroying your car industrie, traitors foreigner affairs department working for the parasites instead of the US, universities academics, medical establishment, Jews, Israel, UK, Europe, South Korea and Japan and many more.

  8. eee on Sat, 30th Mar 2024 8:43 am 

    The fucking US politicians would do anything other then let the parasites suck the US try until it dies.

  9. ee on Sat, 30th Mar 2024 8:49 am 

    Look at how much GOD hates the humans on earth. He hates your new born babies also.

  10. eee on Sat, 30th Mar 2024 9:00 am 

    The population of earth is so stupid that it cannot see how much GOD hate them. All I see is around me are long necks, faces moved forward and everyone on earth find that normal. Fuck the population of earth is stupid and heavily mentally retarded.

  11. eee on Sat, 30th Mar 2024 9:03 am 

    Look at this fucking monstrosity. Look at its hands.

  12. eee on Sat, 30th Mar 2024 9:11 am 

    Fucking lizard tongue.

  13. eee on Sat, 30th Mar 2024 9:16 am 

    I am curious to see what will happen to real human once all the lizards people have been killed. Do you we stay on earth with divine protection (electricity, water, head, food) or we leave earth for good.

  14. eee on Sat, 30th Mar 2024 7:16 pm 

    Fucking piece of shit manipulative whore. This just a simulation. I canot have my handguns or any forms of monetary compensations until I accept to move to the next level of the game, So I have to take a position of leadership to be rewarded with handguns and money. I will kill you fucking bitch.

  15. Dredd on Wed, 10th Apr 2024 11:28 am 

    How do you say “Whoopie we’re all gonna die” like in Arabic?

    Perhaps “How To Enjoy The End Of Bad Choices” … ???

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