Amin Nasser, CEO of Saudi Aramco says the world should give up on the idea of phasing out oil and gas and reset the strategy that focuses on reducing emissions, not phasing out oil and gas.
He spoke at the 2024 CERAWeek by S&P Global conference in Houston, Texas, on March 18, 2024 emphasizing that the energy transition is failing and policymakers should abandon the “fantasy” of phasing out oil and gas, as demand for fossil fuels is expected to continue to grow in the coming years.
“In the real world, the current transition strategy is visibly failing on most fronts as it collides with five hard realities,” Nasser said during a panel interview at the CERAWeek by S&P Global energy conference in Houston, Texas.