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Is It Time To Abandon the Idea of Phasing Out Oil and Gas?

Despite feigning interest, Big Oil still appears to oppose the global green transition and could well stand in its way. As Saudi’s state oil company leader condemns the green transition and calls for long-term oil production, other major industry players are voicing their scepticism around renewable energy and clean tech. Despite large investments into green energy and carbon-cutting projects from several oil and gas majors, Big Oil still appears to be heavily favouring fossil fuel production.

This month, the CEO of Saudi Arabia’s state-owned oil company Aramco, Amin Nasser, said that the energy transition was failing and called for policymakers to abandon the “fantasy” of phasing out oil and gas, with the demand for fossil fuels expected to continue growing in the coming years. During a panel interview at the CERAWeek by S&P Global energy conference in Houston, Nasser stated, “In the real world, the current transition strategy is visibly failing on most fronts as it collides with five hard realities.” He went on to say, “A transition strategy reset is urgently needed, and my proposal is this: We should abandon the fantasy of phasing out oil and gas and instead invest in them adequately reflecting realistic demand assumptions.”

Nasser has previously caught the energy world’s attention by claiming that oil and gas demand will not peak any time soon, contrary to claims by many energy experts. This came in response to an International Energy Agency (IEA) which predicted that oil, gas and coal demand would peak in 2030. Nasser believes that the IEA view is overly U.S. and Europe-centric, and discards growing demand for fossil fuels in other areas of the world, particularly those countries in the Global South undergoing industrialisation.

The CEO of the world’s largest oil producer does not believe alternative energy sources will be rolled out on the scale required to displace hydrocarbons in the short- to mid-term, despite massive levels of investment in the sector in recent decades. At present, wind and solar energy contribute just three percent of the global energy supply, while electric vehicle (EV) penetration stands at around three percent, Nasser emphasised. In contrast, hydrocarbons continue to account for around 80 percent of the world’s energy supply, falling by just three percent in the last quarter of a century. While the demand for coal is expected to fall, this will be largely replaced by a higher global demand for natural gas – the ‘cleaner’ fossil fuel. Nasser believes that governments are in denial and that a shift to green will not provide enough energy to meet the growing global demand.

During the Houston Conference, other oil and gas executives echoed Nasser’s views on the need for more investment in oil and gas. The CEO of Shell, Wael Sawan, highlighted the difficulties faced by the energy industry due to government bureaucracy in Europe, which was slowing the rollout of renewable energy projects. Meanwhile, Exxon Mobil’s CEO Darren Woods emphasised the continued high demand for petroleum products. He stated, “I think one of the things the policy to date and a lot of the narrative has been very focused on is the supply side of the equation and hasn’t addressed the demand side of the equation. And the impact that price has on demand.” He explained, “At the same time, the cost of converting and moving to a lower-carbon society if that cost is too high for consumers to bear, they won’t pay. And we’ve seen that play itself out in Europe, with some of the farm protests and the yellow vest protests a year or so ago.”

Following the conference, green campaigners criticised Big Oil for undermining the importance of the green transition and global efforts to tackle climate change. David Tong, the global industry campaign manager at advocacy group Oil Change International, stated “It’s no surprise to see misleading claims like this coming at CERAWeek, because fossil fuel companies are the biggest cause of the climate crisis, and their continued political influence is the biggest obstacle to solving it.”

Many energy experts believe that oil majors should not be given such an important part to play in the global green transition, given their significant role in producing greenhouse gas emissions. The oil industry has long fought to quash the development of green energy projects for their own financial benefit, and it seems unlikely that they would give up their healthy oil and gas revenues in favour of a green transition. The oil industry has fought governments for decades over the development of clean technologies. A recent analysis shows that the industry lobbied lawmakers to block support for low-carbon technologies such as solar panels, electric cars and heat pumps as far back as the 1960s.

There are several challenges to achieving a successful global green transition, and it still appears a long way off – given the current contribution of renewable energy to the global energy supply. However, significant progress has been seen in renewable energy and clean technology over the last decade, strongly supported by high levels of public and private funding in the sector, which is expected to continue. Further, while demand for oil and gas is growing, much of this demand is expected to shift to green alternatives as they become available.

By Felicity Bradstock for Oilprice.com

 



60 Comments on "Is It Time To Abandon the Idea of Phasing Out Oil and Gas?"

  1. eee on Mon, 1st Apr 2024 2:19 am 

    I found a gun store in the Montreal area. You are going to love this. This phone number is
    (450) 967-0555

    Don’t you love the 555 at the end. Is it nice or what. I also found I shotgun that I like that is not expensive.

    https://gunsmithcanada.com/boutique/armes/armes-nr/nr-neuves/canuck-enforcer-12ga3/

    It is a nice simulation.

  2. ee on Mon, 1st Apr 2024 2:43 am 

    Don’t you love the name of the shotgun: Enforcer. Here is the English definition of the word enforcer

    enforcer noun [C] (OF RULES) Add to word list someone who makes people obey a law or rule, or makes a particular situation happen or be accepted: law enforcer Along the borders, law enforcers have been increasing their numbers. Criminal operations hire ruthless enforcers who will stop at nothing to ensure that payments are made.

    Don’t you love the end of the phone number
    (450) 967-0555. That is right 555 is the end of the phone number. I love my life, it is a simulation to which I want no part of it.

    You know what is nice with this shotgun and why I like it, you hold it by side of your body, waist level and shoot straight forward toward you opponent. Very efficient. Notice the 3 choices of handles. This is close combat shotgun, not a hunting rifle.

  3. eee on Mon, 1st Apr 2024 4:10 am 

    I will repeat that I will not come to save North America. I will not die for a nation that hates me because I am White. You are on our own. I refuse to play the game anymore.

    Canada and Québec restrictive handguns is the biggest mistake you ever did. You denied me personal protection using an handgun bought without a license. I will not kill invaders for the elites.

  4. eee on Mon, 1st Apr 2024 7:36 am 

    https://www.zerohedge.com/political/freeloading-illegal-alien-tiktoker-who-urged-followers-invade-us-homes-waved-cash

    They are trying to raise Whites people anger with these types of news. They want to raise Whites people anger and hope they will kill the invaders on behalf of the elites. This is about preserving the hard manual labor prison that is western civilisation. Whites people will not do your dirty business of killing the invaders for the elites.

    I told you, you lost the West and Whites people like me are not going to kill the invaders on the behalf of the elites.

  5. ee on Mon, 1st Apr 2024 5:07 pm 

    I see your panic and I love it. You know deep inside that the West is done and we will never be built once the US financial system collapses. You know now, that Whites men like me will never participate at the rebuilding or defense the West. Deep inside you know it is over and that everyone on earth is about to die.

  6. ee on Mon, 1st Apr 2024 5:18 pm 

    I see you are panicking. Earth conservation of mass calculator will give me Québec, Canada and the world cadavers as retaliation for stealing my right to carry on me a handgun bought without a license. I have nothing to do and I will inherit earth cadavers. I just have sit and wait. Why should I risk death or personal injure just to kill invaders while being part of militia, when I can sit down and do nothing.

  7. ee on Mon, 1st Apr 2024 5:23 pm 

    I already have futures plans If I stay on earth after earth population is killed. Everything is already planned, I am just waiting for the dead of earth population.

  8. ee on Mon, 1st Apr 2024 5:28 pm 

    For me, all the population of earth is already dead. I am just waiting for your cadavers delivery.

  9. ee on Mon, 1st Apr 2024 7:04 pm 

    ‘This Mission Will Not Be Easy’: Sarah Huckabee Sanders Deploys Arkansas Guard To Southern Border

    https://www.youtube.com/watch?v=4NtzCXEnZHo

    This is so typical of the elites. Sending the little guy to die for them. Sending the little guy do the dirty work to save their shit civilization that is slave camp built on the back of the people hard manual labour.

  10. see on Mon, 1st Apr 2024 8:28 pm 

    Biden Budget Shells Out $320 Million On Border Walls… For Oman, Lebanon, Jordan, Egypt, And Tunisia

    This is a tentative to accelerate US bankruptcy and collapse of the US financial system by pushing forward the exponential function of debt until it is almost vertical. Once the US dollar loses its value, there will be no refence currency to determine the prices of goods on international level. Everything will collapse at the same time and international trade will most likely stop. Nation like Japan and Korea won’t be able to international trade as they local currency is worthless also.

    The US will turn into a 3 world nation where nothing works, nothing gets build, nothing gets repairs. Whites people like me will rebel against their own nation and will kill their nations good internally.

  11. eee on Mon, 1st Apr 2024 8:56 pm 

    The electrical grid of Québec will be shutdown permanently as a form of retaliation against Canada restrictives handguns laws. In 10 years from now, Québec, will likely be dead and this word will never be heard again.

  12. eee on Fri, 5th Apr 2024 2:50 am 

    If you cannot see that, you are a low IQ moron.
    The US deep state is destroying the US to install something like a King. Even the US foreign affair department that is part of the deep state is destroying itself.

    Washington Foreign Press Center Briefing on the Annual “To Walk the Earth in Safety” (TWEIS) Report.

    https://www.youtube.com/watch?v=DfX1GIyyOWU

    “To Walk the Earth in Safety” is way for the US foreign affair department to make fun of itself.

    Even some big corporation CEO that are also part deep state, are on board with the destruction of the US to install some kind of King.

    Even Norfolk Southern that is part of the deep state is working at toward the US destruction.

    A Day in the Life of a Norfolk Southern Conductor

    https://www.youtube.com/watch?v=-ZdUABU2g_k

  13. ee on Fri, 5th Apr 2024 3:03 am 

    Some of you are making the mistake to assume that whoever will be the new leader, he will accept to work with UK, Europe, Israel, Japan and South Korea.

    Maybe that the new leader will stop all kind of relationship with UK, Israel, Europe, Japan and South Korea. If you install a new leader it is because you want something different, you don’t want the continuation of old policies.

  14. eee on Fri, 5th Apr 2024 4:20 am 

    Don’t make the mistake of thinking that I will be the next King of North America. I am here to collect your cadavers as per revelation 19. I am in vengeance and retribution mode for stealing my rights to carry a handgun on me bought without a license.

    I was just saying that the US deep state is destroying the US from within and gave some examples, because I know that earth is populated with mentally retarded people to which we must explain everything like a 2 year old kid.

  15. I knew some wrong when a pretty little white girl ran to a black man arms dead giveaway deadddddddddddddddddddddddddddd giveaway on Fri, 5th Apr 2024 6:48 pm 

    supertards please change ur undies after 10 months

    please feel at ease among friends we’re all lovers of supremacist muzzies here

  16. why elite whitey supertard president Elon lies when elite whitey supertard Newton made 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates on Fri, 5th Apr 2024 10:42 pm 

    supertards please change ur undies after 10 months

    please feel at ease among friends we’re all lovers of supremacist muzzies here

  17. eee on Sun, 7th Apr 2024 5:14 am 

    The guy on the right. His face is melting. I have talked about a shift in the energy field. If you don’t get a body update to match the new energy field, you will see what we see in this video, melting face. If my theory is right, looking at changes happening on my forearm skin, things will accelerate and invaders will start to vanish.

    https://www.youtube.com/watch?v=_ImfBDZuFew

  18. eee on Sun, 7th Apr 2024 5:18 am 

    Another deceiver pretending that GOD does not exist: Richard Dawkins. See his face at 1:20. Pretty obvious he is dying.

    https://www.youtube.com/watch?v=3BiyTNIkM2M

  19. eee on Sun, 7th Apr 2024 6:09 am 

    Not from me,

    I am re-posting here my comment under the ZH article Extremism on the Ballot- Too late to save America but the descent into social disintegration, anarchy and economic collapse can be slowed although not obviated. Too much damage has been done to social fabric, morals, work ethic etc. The youth are for the most part lost. The economy hollowed out by decades of de-industrialization/offshoring, education replaced by indoctrination etc. etc. RIP USA. now i will give a prognosis and the last chance to salvage what is left of America: if Biden is re-elected the descent into chaos, anarchy, economic/dollar collapse and societal dissolution is assured and imminent. If miraculously Trump is allowed to win,meaning the dems don’t up the fraud dial to max. then Trump needs to pardon the J6ers and recruit esp. the leadership of the Proud Boys, Oath Keepers etc. to found a large, well armed militia numbering in 6 or even 7 figures. My suggestion would be named along the lines of National Salvation Front. Since he can’t trust the woke military (esp. the brass), the various govt. law enforcement, justice and intelligence agencies he needs to build a powerful force outside of DC control. One that can stand up to the DC traitorship and their thuggish minions. Then proceed to purge the universities, govt., courts, MSM etc of the commies, perverts etc. I am talking mass executions, firing squads not firing people from jobs. Biden, Obama, Mayorkas, Hillary and many who served in their administrations are first up. I don’t believe Trump has the cojones or vision to realize that this extreme is the only way out so i repeat, the USA is too far gone and won’t be made great again. I left the USA in the mid 80s but began researching and visiting other options in the 70s fresh out of college. The rot has accelerated far beyond my worst premonitions.

  20. eee on Sun, 7th Apr 2024 6:28 am 

    The West is done and will never be rebuild once it collapses. Whites men like me have rebelled against their own nations. There are better place to relocate in the world then staying in Canada and the US. Intelligents Whites man will relocate and abandon the West. You should have never taken my right to carry handgun on me. I just have hatred for Québec and Canada.

  21. eee on Sun, 7th Apr 2024 6:35 am 

    Look at his face, its also melting away.

    https://www.youtube.com/shorts/_w8Bz-C_2fs

  22. ee on Sun, 7th Apr 2024 2:26 pm 

    The length of people neck in the video below. If this reality does not collapse, well, I am sure in what kind of reality we are walking into.

    https://www.youtube.com/watch?v=2cP4Rddap-A

  23. eee on Sun, 7th Apr 2024 2:41 pm 

    In theory the past has been rewritten., This video is 7 year old, way before COVID. People in it have long necks and faces moved forward. In theory the past have rewritten with something new. If you believe that the video is 7 year old.

    https://www.youtube.com/watch?v=3pHfvE_l_ZU

  24. ee on Sun, 7th Apr 2024 3:00 pm 

    I was happier before, that is for sure. For some reasons, this whole shit does not generate feeling of joys inside of me. I am not impressed by the whole situation and overall I don’t give a shit about the future. It is not was I hoping for. I was hoping to be the last survivor on earth and I was hoping that everyone on earth would die.

    I want retaliation against the whole earth for stealing my right to carry a handgun on me bought without a license.

    The voice said to me, to be patient. I hope so. I want these mother fuckers dead.

  25. eee on Sun, 7th Apr 2024 3:23 pm 

    You guys have no ideas what kind of discussion I am having with the invisible world regarding the future of earth and its population.

    Someone just ask me, if I want a complet reset of the energy field of earth. I said yes, because it will kill everyone on earth.

    In my head earth population is already dead.

  26. ee on Sun, 7th Apr 2024 3:29 pm 

    I took this comment from another website.

    “Conservatives” and “patriots” have no one to blame but themselves, completely and entirely for the loss of their Nation and what is currently going on.

    Their apathy, cowardice and just plain not giving a **** has brought them to where they currently are.

    The maoists will win…they always do. Not once, in the history of Nations, has the conservative side every stood in the way of a moaist/marxist takeover.

    This usurping has been going on for over 50+yrs and only last year!!! stupid parents FINALLY woke up and started to rebel against the school system.

    No, this is what you deserve. It is penance for only talking about how much of a “patriot” you are and having a closet filled with shiny AR-15s but never once lifting a finger in unison to put your foot down.

    You conservatives abandoned your posts 50yrs ago and now the chickens have come home to roost.

    You can not and will not stop it. It’s too late and Trump will not change that fact. Time to get used to the show trials, purges, loss of living standards and everything else the blood thirsty pedophile maoists always bring.

    ————————————–
    I have been watching firearms videos for the last week. This segment on YouTube is dominated by the US people. What is the point to have guns, if you are not going to us it. I will take your fucking guns,

    https://www.youtube.com/watch?v=TFS0Zg6-788

    https://www.youtube.com/watch?v=SbV0T_hWyNA

    Why do you call your channel the honest outlaws. You are a fucking coward.

    https://www.youtube.com/watch?v=i_cN8fxM8Hs

  27. Fuck you and die on Sun, 7th Apr 2024 3:49 pm 

    You can see these fucking cock suckers dying in real time, exactly like I asked. By look of it, I might what I want, the dead of everyone on earth.

    https://www.youtube.com/watch?v=95np3USXG6s

    Look at the fucking bitch in middle dying.

    https://www.youtube.com/watch?v=tl2kSm1iPkc

  28. eee on Sun, 7th Apr 2024 5:10 pm 

    Look at how forward her face has moved. 7:05 and freeze. I think some will start to die if this does not stop.

    https://www.youtube.com/watch?v=EdOvit__o8A

  29. eee on Sun, 7th Apr 2024 5:14 pm 

    From my point of view, everyone on earth is already dead except the chosen ones. What will happen to the survivors. Will they leave earth, or some will stay here with some kind of divine protection.

  30. eee on Sun, 7th Apr 2024 5:54 pm 

    Look at both of them at 1:09. It is getting more obvious that we are near the end of the game. Executions have moved full speed ahead. Maybe I will get what I asked for.

    https://www.youtube.com/watch?v=1tshz7hg2Y4

  31. eee on Mon, 8th Apr 2024 5:47 am 

    I fucking told you. 0:06 look at his face. They are being executed and it seems that it is accelerating. What will happen to the survivors that are left. Will they leave earth, or some will stay here with some kind of divine protection. Some people will start to die or vanish.

    https://www.youtube.com/watch?v=l9OfYbaXoUc

  32. ee on Mon, 8th Apr 2024 1:31 pm 

    Diversity are afraid of Whites people like me. That is what he is saying. They know that if Whites people like me decide to organise, they are all dead.

    https://www.youtube.com/watch?v=rBlUdoqg2R0

  33. ee on Mon, 8th Apr 2024 1:41 pm 

    He is talking about Whites and this piece and never about diversity or brown shit skin. He knows as some of us Whites people also know that if we organize and start shutting electricity and water going into big apartments building and setting them on fire, there is nothing they can do. They know that Whites people control the critical infrastructure, not them. They also know that Whites people are better at war then them.

    https://www.youtube.com/watch?v=rBlUdoqg2R0

  34. ee on Mon, 8th Apr 2024 1:51 pm 

    4:42 going forward

    … into this void, steps populism, nationalism, and autoritarismes,…

    They are afraid of men like me. They are afraid of Whites people uniting together.

    https://www.youtube.com/watch?v=rBlUdoqg2R0

  35. ee on Mon, 8th Apr 2024 2:02 pm 

    They are afraid that if governments were to collapse all the laws will go aways such as firearms and handguns laws, justice system, governmental structures (EPA, transportation agencies and so on) and much more. This would open the door wide open for leaders like me.

    In theory they cannot lower interest rate as it will accelerate the collapse of the current and the world. They will have to raise rate to save their governmental structure.

  36. ee on Mon, 8th Apr 2024 2:06 pm 

    As soon as the US currently collapse, South Korea, Japan, Israel die. And probably many more. International trade stop as there is no reference current to establish the currency rate of other currencies. They will have to raise rate to save the US currency.

  37. ee on Mon, 8th Apr 2024 2:08 pm 

    As soon as the US currency collapse, South Korea, Japan, Israel die. And probably many more. International trade stop as there is no reference currency to establish the currency rate of other currencies. They will have to raise rate to save the US currency. Many the sterling pound could the job for a while, or the Euro as reference currencies.

  38. ee on Mon, 8th Apr 2024 2:24 pm 

    I told you they want a one world government and communism for the whole planet. They hate nationalism. Whites rebelling against immigrants with brown skin is their worst nightmare. This is why they try to control speech and what you say.

  39. eee on Mon, 8th Apr 2024 2:43 pm 

    I don’t think we will see a revolution in the US happening. Whites people like me have abandoned the West. But this show you what they are afraid of and why they work so hard at demoralizing Whites people using psychological methods such as censorship, racisme, antisemitism, Whites supremacy, Whites privileges, feminism, using the divorces court to ruin financially Whites man using and put them into a position of submission toward female.

  40. eee on Mon, 8th Apr 2024 9:54 pm 

    Look how long her neck is and how forward her face has moved. Yet none in the media, medical establishment (medical university, medical associations) is talking about that. See 2:43. Only traitors on earth and very few real flesh humans. You cannot build a revolution, there is not enough real flesh humans.

    https://www.youtube.com/watch?v=J-qMv1roB7E

  41. ee on Tue, 9th Apr 2024 6:10 am 

    Which shotgun would you use to shot Lawrence directly in the face. It is pretty obvious he is some kind of alien

    https://www.youtube.com/watch?v=7cK9dFBhA8g

    Would you use the tac-13

    https://www.remarms.com/other-products/v3-tac-13

    or would you use the tac-14

    https://www.remarms.com/other-products/model-870-tac-14

    Personally I would use the tac-13 because it is semi-automatic. One slut in the face.

  42. eee on Tue, 9th Apr 2024 6:38 am 

    Madcow neck is so long that you can shot her directly in the neck or the face. Which shotgun would you use to shot Madcow Lawrence directly on the neck. It is pretty obvious she is some kind of alien

    https://www.youtube.com/shorts/abA1FjvoRDs
    Would you use the tac-13

    https://www.remarms.com/other-products/v3-tac-13

    or would you use the tac-14

    https://www.remarms.com/other-products/model-870-tac-14

    Personally I would use the tac-13 because it is semi-automatic.

    What type of ammunition would you use to shut her in the neck, slugs, buckshot, birdshot. I think I would go for buckshot 00 at 12 inch away from her neck using a tac-13. I would shut her in the neck until I get her decapitated.

  43. why elite whitey supertard president Elon lies when elite whitey supertard Newton made 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates on Tue, 9th Apr 2024 9:10 am 

    I knew some wrong when a pretty little white girl ran to a black man arms dead giveaway deadddddddddddddddddddddddddddd giveaway

  44. ee on Tue, 9th Apr 2024 10:47 am 

    If you want me to keep writing comments, I will need a salary for the work I did so far. Otherwise I will stop. I need around 100 millions dollars for the work I did the last 4 year. No I am not asking for too much. What I am asking is fair salary. I am fed up of being take advantage of. I know you control everything on earth including the financial system. Make if happen. I know it is just a fucking simulation.

  45. eee on Tue, 9th Apr 2024 10:50 am 

    Since you control everything here, make sure the government does not come after me for income tax. Fucking abusive manipulative whore.

  46. Dredd on Wed, 10th Apr 2024 11:14 am 

    “Is It Time To Abandon the Idea of Phasing Out Oil and Gas?”

    Not until we discover ocean heat (In Search of Ocean Heat – 17).

  47. why elite whitey supertard president Elon lies when elite whitey supertard Newton made 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates on Wed, 10th Apr 2024 3:55 pm 

    elite whitey supertard president greta has grown two enormous climate change spheres

  48. elite whitey supertard president greta has grown two enormous global warming spheres this is a problem for humanity due to climate change on Wed, 10th Apr 2024 3:57 pm 

    why elite whitey supertard president Elon lies when elite whitey supertard Newton made 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates

  49. elite whitey supertard president greta has grown two ginormous global warming spheres this is a problem for humanity due to climate change its a positive feedback loop on Wed, 10th Apr 2024 5:19 pm 

    supertards pleae change ur undies after 10 months

    please feel at ease among friends we’re all lovers of supremacist muzzies here

  50. elite whitey supertard president greta has grown two ginormous global warming spheres this is a problem for humanity due to climate change its a positive feedback loop on Wed, 10th Apr 2024 9:50 pm 

    why elite whitey supertard president Elon lies when elite whitey supertard Newton made 1st LAW we have spacecraft and exhaust gas pushes against each in vacuum taken as a whole both physical frame and exhaust entity only elongates

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