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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
720 Comments on "Is It Time To Abandon the Idea of Phasing Out Oil and Gas?"
ee on Wed, 8th May 2024 3:47 pm
Remember that i am here to collect your cadavers. i am not your friends. you took away my handguns, you die
ee on Wed, 8th May 2024 3:52 pm
Remember that we built earth as a execution and torture chamber. I will never be your king, never be your militia leader. I want earth cadavers because I hate you. Never take away the handguns of man.
eee on Wed, 8th May 2024 3:54 pm
Some people, not me, might come and kill you using an helicopter while you are working in your parliament offices.
eee on Wed, 8th May 2024 3:56 pm
Politicians are just loser incapable of being productives. I bet these losers politicians don’t even know how to put gaz in their cars.
eee on Wed, 8th May 2024 4:00 pm
Certain of my though, not a lot of them, are transferred on planet earth using the holographic matrix. the helicopter is one example of my thought being transfer into the earth holographic matrix.
It is not the first it happened and will happen again.
eee on Wed, 8th May 2024 4:09 pm
It is not the first time that some of though have integrated in one form or another into the holographic matrix of earth.
ee on Wed, 8th May 2024 4:10 pm
It is not the first time that some of my thoughts have integrated in one form or another into the holographic matrix of earth.
eee on Wed, 8th May 2024 4:15 pm
What I want is every one on planet earth dead. Just imagine if this thought get accepted and integrated into earth holographic matrix.
You took away my handguns you die.
ee on Wed, 8th May 2024 4:23 pm
You really think I will share planet earth with anyone, when I can kill the whole population of earth and have planet earth for me alone. I am not a fucking loser, if I can kill everyone on planet earth using my thought I will do it.
ee on Wed, 8th May 2024 4:31 pm
You really think I will share my holographic matrix with other people, I don’t think so. I need it to do advance maths. Go fuck yourself.
ee on Wed, 8th May 2024 5:08 pm
You are within my holographic matrix and I want you dead. We are using my holographic matrix to kill all the population of earth, and after I move to something else alone. Never take away the handguns of a man.
eee on Wed, 8th May 2024 5:32 pm
Go watch some videos of Pattaya. You will see that some palm trees are dying, the have yellow and brown leaves. I did that with one my thought or suggestion. I suggested that we kill all the green vegetation on earth. Look carefully we are slowly killing everyone living on planet earth. Never take away the handguns f a man.
eee on Wed, 8th May 2024 5:42 pm
Never take away the handguns of a man, under no circumstances or reasons.
40 ans de la fusillade à l’Assemblée nationale : le Québec souligne une triste page d’histoire
https://www.youtube.com/watch?v=N9QlcLFOm8E
ee on Wed, 8th May 2024 5:48 pm
I am killing everyone living on earth just because you took away my handguns from me
eee on Wed, 8th May 2024 6:01 pm
The danger is not that I might come to kill in with flesh body. The danger is that some of my thoughts could be integrated into the earth holographic matrix and kill all the population of earth. Never take away the handgun of a man.
https://www.youtube.com/watch?v=FZsjAjckg9g
eee on Wed, 8th May 2024 6:06 pm
The danger is that some of my thoughts could be integrated into the earth holographic matrix and kill all the population of earth. Never take away the handgun of a man. You see what I mean below:
https://www.youtube.com/watch?v=jrnMvJhX0SM
eee on Wed, 8th May 2024 6:32 pm
For example, sarcastabll of South Park is loosely base on my personal sarcastic personality. Especially when randy talk.
https://www.youtube.com/watch?v=blGs07ZlfCg
You cock suckers have just no idea, because I am not sharing much of my personal life.
Some latex and BDSM female clothing on YouTube are based on my personal sexual taste.
https://www.youtube.com/watch?v=ldOfRbFXTh8
You fucking cock suckers have just no idea.
eee on Wed, 8th May 2024 6:41 pm
Notice the duration of the video:1:55.
Notice the 55 together, I spoke about that multiple time.
https://www.youtube.com/watch?v=jrnMvJhX0SM
eee on Wed, 8th May 2024 7:05 pm
My goal is to kill everyone living on planet earth and use it for my personal projects. Just imagine if my thoughts were accepted and integrated into the earth holographic matrix.
Be worry of my thoughts and my hatred for the population of planet earth.
Never take away the handguns of a man.
ANAL SHOCK EXTREME CAPTURE PROLAPSE BAZZAIRE elite whitey supertard president greta has grown two ENORMOUS global warming spheres on Wed, 8th May 2024 9:27 pm
i appoint elite supertard president eee supertard
his title is ‘the lover’ of surpemacist muzzies
eee on Wed, 8th May 2024 9:40 pm
Never take away the handguns of a man. Never put any kind of restrictions or any kind of permit on handguns.
eee on Wed, 8th May 2024 9:43 pm
I really hate the population of earth and the fucking Europeans. All of you,fucking cock suckers cannot die fast enough.
https://www.youtube.com/watch?v=gay8KzFcBos
eee on Wed, 8th May 2024 10:15 pm
Look at her hair, it is pretty obvious she cannot see her self in a mirror. It is some kind of holographic matrix. Who control the holographic matrix control earth? Who control the holographic matrix using his thoughts control planet earth. It is that simple.
https://www.youtube.com/watch?v=q-bd0YiMtKA
https://www.youtube.com/watch?v=jrnMvJhX0SM
eef on Wed, 8th May 2024 10:30 pm
On top of that, nobody in the media is mentioning that she has funny hair, meaning people in the media are not real or have no eyes.
https://www.youtube.com/watch?v=q-bd0YiMtKA
eee on Wed, 8th May 2024 10:34 pm
It means that when you are killing something with a long neck on planet earth, you are not killing a real human being. You are just killing an image that does not exist.
What are we waiting for to remove all firearms laws, they don’t have a flesh body. You are not committing murder by killing something that is not real.
eee on Wed, 8th May 2024 11:14 pm
Find out why they are restricting access to handguns, you will find your answer. It is not the first time I am saying this. If they don’t have a flesh body, why are they banning handguns.
eee on Wed, 8th May 2024 11:17 pm
Notice also nobody on planet earth will never talk about the fact that people neck got longer and their face moved forward. Nobody want to talk about these changes. Even the medical establishment is silent about this.
eee on Wed, 8th May 2024 11:19 pm
Nobody is talking about the fact the trump face has completely changed. It is not the same face compare to 6 years ago. There is not fucking way they are alive. What is the purpose of banning guns if they are not alive.
eee on Wed, 8th May 2024 11:25 pm
We are just going to sit there and pretend that it is normal that people necks got longer and we will never talk about it.
eee on Thu, 9th May 2024 12:27 am
I cut the skin on my forearms doing the exhaust job. It barely bleed and did not hurt. The cut are almost all gone. Fast healing is nice. I have crappy legs, but I have a good strong upper body and nice arms. I was able to use the metal grinder with one hand when I cut the bad part of the exhaust pipe. My legs are really crappy and my vision still need improvement.
eee on Thu, 9th May 2024 1:02 am
Never take away the firearms of a man. Earth is in this mess because you took away the firearms of a man. You cannot be helped, earth population will be killed.
eee on Thu, 9th May 2024 1:04 am
Earth is in this mess because of firearms laws. I think it is pretty obvious at this point that earth will not be saved, not by us.
eee on Thu, 9th May 2024 1:07 am
You are stupid idiot. You don’t deserve to be saved.
eeedd on Thu, 9th May 2024 1:09 am
Never put any kinds of laws of firearms. You lost earth because of these firearms laws.
eee on Thu, 9th May 2024 1:11 am
You have no natural resources left. You cannot rebuild. Never put any kind of law on firearms. You are fucked.
eee on Thu, 9th May 2024 1:29 am
We try to tell earth to not put law of firearms. You did not listen. Now it is too late.
https://www.youtube.com/watch?v=FX4t1lLNl-o
eee on Thu, 9th May 2024 1:44 am
We try to warn you but you did not listen.
https://www.youtube.com/watch?v=jxoowglHU2w
eee on Thu, 9th May 2024 1:53 am
7:14 we try to tell you, but you are too mentally retarded. You made the mistake to listen when women talk. We did that on purpose because earth is an execution chamber first. We were nice enough to tell you.
https://www.youtube.com/watch?v=cKCfV09Y_og
ee on Thu, 9th May 2024 1:58 am
You also made the mistake of creating a police force.
https://www.youtube.com/watch?v=FX4t1lLNl-o
eee on Thu, 9th May 2024 2:11 am
You made a big mistake when you created a police force just to protect the elites.
https://www.youtube.com/watch?v=PH9dblKpXno
eee on Thu, 9th May 2024 2:15 am
We try to tell you, it is freedom or nothing.
They who can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety
eee on Thu, 9th May 2024 2:24 am
You should have choose freedom, instead you choose slavery and control. You made a critical mistake that cannot be fixed, there is no natural ressouces left.
ee on Thu, 9th May 2024 5:53 am
Fucking low IQ loserse.
eee on Thu, 9th May 2024 6:08 am
As a man who loves freedom, the dead of cop is something beautiful to see.
https://www.youtube.com/watch?v=FX4t1lLNl-o&t=143s
eee on Thu, 9th May 2024 6:10 am
You don’t deserve to stay alive, you are all losers.
ee on Thu, 9th May 2024 6:16 am
Fucking low IQ piece of shit
eee on Thu, 9th May 2024 6:18 am
I have said that many times, the European are fucking losers.
https://www.youtube.com/watch?v=gSH9YMtMhm4
eee on Thu, 9th May 2024 6:25 am
We did a good job. We designed the women as heavily mentally retarded. The human female did a good job at destroying earth. We made the human female in such a way that we knew she would take away freedom from earth. Freedom has been taken away from planet earth because of the female. We knew that without absolute freedom, earth will a short life project. Fuck I hate the population of earth.
Still worshipping your fucking female and your fucking Jews.
eee on Thu, 9th May 2024 6:34 am
We designed the female in such a way that she is never happy with what she has. She always wants more. It was a way for us to speed natural resource depletion. People of earth worship the devil.
ee on Thu, 9th May 2024 6:36 am
A women should never be allowed to speak. She is just a sex object without any value.
https://www.youtube.com/watch?v=1sqI5TKVLSE