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Page added on March 31, 2024

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

Production

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?"

  1. eee on Thu, 2nd May 2024 2:01 pm 

    Once we are done transferring all the people we want to kill, also called immigrants, we will torture you and kill you.

  2. eee on Thu, 2nd May 2024 4:02 pm 

    I have said that and I will repeat it again. We are the ones dumping they so called immigrants here. Your immigrants are trash from other dimensions that we dumping here on earth. Earth is an execution and torture chamber. We and I deeply dislike women.

    Show me one instance where you saw a failure of the conservation of mass principle. Never. You have no idea how much I hate you. You should have never taken away my handguns from me.

  3. eee on Thu, 2nd May 2024 4:09 pm 

    We opened a doorway from other dimensions and we are dumping the trash we don’t like here on planet earth. You have no ideas what women really are. They have been designed as agent of chaos and destruction. We find it funny that some man actually worship women. The bitch is even not good at sex. She is good for nothing and we did her on purpose that way.

  4. WHY elite supertard president eee did not MUZZ-19 himself with reckless abandonment doesnt he believe in the SCIENCE yes yes but he got SALINE SOLUTION thats why he also got RETRACTABLE NEEDLE on Thu, 2nd May 2024 10:10 pm 

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

    deaaaaaaaaaaaaaaaaaaaaaaaaaaaaddddd giveaway

  5. ee on Fri, 3rd May 2024 8:08 am 

    Earth is the garbage can of the universe. Why do you think there is so many stupid people on earth, greedy people, corrupt people, women, thief, Because earth is a dumping ground for everything we hate and judge unfit to stay alive.

  6. eee on Fri, 3rd May 2024 8:13 am 

    Tu aimes toujours ton registre de armes a feu ma grosse chienne sale a Legault. Tu es just a criss de communist sale ma grosse chienne a Legault.

  7. eee on Fri, 3rd May 2024 8:21 am 

    Even the Kashmir Lyric tells you that earth is a big garbage can;

    To sit with elders of a gentle race this world has seldom seen.

    This line tell you that earth is a garbage can where we dump the worst of the worse.

    https://www.youtube.com/watch?v=y_6M254L0XU

  8. eee on Fri, 3rd May 2024 8:36 am 

    The human female is mentally retarded, and planet earth worship, especially Whites worship her. I told you, it is an inverted reality, Whites people are losers and negros are winners. You are here because you are the garbage of the universe we don’t want.

  9. ee on Fri, 3rd May 2024 8:38 am 

    The only way to deal with something like the human female, is to beat her each time she opens her mouth.

  10. eee on Fri, 3rd May 2024 8:49 am 

    criss de pute sale a Legault

  11. ee on Fri, 3rd May 2024 9:28 am 

    The Eight Genders in the Talmud

    https://www.myjewishlearning.com/article/the-eight-genders-in-the-talmud/

    You still love your fucking. I was right, killing all the Jews of the world is the right thing to do. I told you, they want the destruction of the Whites masculine man. The Whites masculine man is their only obstacle for total world domination.

    They took your guns away because they are almost done conquering earth.

  12. eee on Fri, 3rd May 2024 9:37 am 

    This one is funny, I don’t what to think of it. Predictive programming.

    CIVIL WAR – “300 Canadian” Scene! (2024) Movie CLIP HD

    https://www.youtube.com/watch?v=iBCIJ3QluHY

  13. ee on Fri, 3rd May 2024 9:50 am 

    Civil War (2024) Ending Scene in Oval Office – Execution of the President

    https://www.youtube.com/watch?v=pZC4nCrQWB0

    Probably mean that all the politicians have already been executed already. Next the gouvernemental agencies employees execution like the EPD, ATF.

    After all the ATF is working at disarming the population.

    The fucking futur is already written. This world could just bea simluation they are using to train me to become some kind of leader in a futur dimension. Who the fuck knows.

  14. ee on Fri, 3rd May 2024 10:00 am 

    It seems that some people outside of earth are pushing to make me the next King and so I can perform genocide cleansing of the North America. We will see if it will happen.

    I need better legs, stronger muscle, better reflexex, better physical endurance.

  15. ee on Fri, 3rd May 2024 10:16 am 

    Ma venir te cherche ma grosse chienne a Legault pour travailler aux désarment de Québecois avec to registre des armes a feu. Ma vener te chercher mon tabernacle.

  16. eee on Fri, 3rd May 2024 11:53 am 

    The feminization of planet earth was a success. The Jews did a good job on this. These feminized men are the ones that will rebuild civilization, that will do they welding need, repair diesel engine. I want to see how you will rebuild a civilisation made of feminized and beta cuck males like Trudeau, Macron, Poilievre. I told you , earth is an execution chamber where we sent the garbage we don’t like here on earth.

  17. ee on Fri, 3rd May 2024 12:00 pm 

    Ma advice to the US, is to raise interest rate and defend the US dollars. This is all you have left, Canada, US and Europe are not real nations and will not be rebuilt. Think what you are doing before printing money and collapsing the US currency

  18. eee on Fri, 3rd May 2024 12:56 pm 

    I want to see how you will rebuild this fucking nation without the help of men like me. I am working on my exhaust, I have to come up with all kinds of imaginative tricks to make it works. I had to sharpen my drills bit, buy some drill extensions to reach tight place. Je veux voir la chienne a Legault réparer son char ou sa maison. Whites men have abandoned the West and you are on your own. I hope for your survival you know how to fix stuff.

    I would defend the US dollar if I was you and I would raise the interest rate, this is all the US has left. The Whites man would not be there to rebuild the US and the Whites men will not be part of a revolution to kick out the invaders. Ask the politicians to take a guns and kick out the invaders themself.

  19. eee on Fri, 3rd May 2024 1:07 pm 

    As soon as the US dollar collapses, the US won’t able to buy natural resources from the international market at a cheap price and inflation will come back home and destroy the US.

    You defend the dollar or you die.

  20. eed on Fri, 3rd May 2024 1:19 pm 

    There are some cuck sucker who wants to lower the treasuries yields in order to restart the housing market because the US and Canada don’t have a real economy, collapses the US currency through money printing and see the results.

    I dare you to do it , stupid cuck suckers.

  21. eeedd on Fri, 3rd May 2024 2:22 pm 

    Is does not matter that the US make deal to access cheap oil from Saudi Arabia. The Whites has abandonnes the US and Canada, the immigrant coming here are of low quality. You are still fuck. You are just buying yourself a little bit more time. I love the smell of blood in the morning. Especially Quebecers and Canadians bloods.

  22. eee on Fri, 3rd May 2024 2:38 pm 

    You took away my rights to carry handguns on me without a license, I will kill all Canadians population just for that. Remember that for futur reference, never but never take away the handguns of a man.

  23. I knew some wrong when a pretty little white girl ran to a black man arms dead giveaway deaaaaaaaaaaaaaaaaaaaaaaaaaaddd giveaway on Fri, 3rd May 2024 4:06 pm 

    WHY elite supertard president eee did not MUZZ-19 himself with reckless abandonment doesnt he believe in the SCIENCE yes yes but he got SALINE SOLUTION thats why he also got RETRACTABLE NEEDLE

  24. eee on Fri, 3rd May 2024 5:52 pm 

    I have not seen in my whole life one failure of the calculator of conservation of mass. Earth is your execution chamber and there is nothing you can do about. I am here to walk over your cadavers. Your stupid théâtre will not allow you to leave earth, modify earth calculator or access earth calculator. Apparently you have a lot of time to wast.

  25. eee on Fri, 3rd May 2024 6:04 pm 

    Revelatin

    1 I saw heaven standing open and there before me was a white horse, whose rider is called Faithful and True. With justice he judges and wages war. 12 His eyes are like blazing fire, and on his head are many crowns. He has a name written on him that no one knows but he himself. 13 He is dressed in a robe dipped in blood, and his name is the Word of God

    I saw heaven standing open = I saw a dimensional gate from other dimension open

    Someone will come from another universe to walk over earth population cadavers. This is how I interpret revelation 19.

  26. eee on Fri, 3rd May 2024 6:12 pm 

    I will repeat that again, never take away or confiscated the handguns of a man. Some men will set the earth on fire for a question of handguns.

  27. eee on Fri, 3rd May 2024 6:37 pm 

    A lot of people to kill. A lot of traitors in the Western nations. You will need a King with absolute power to do that much killing in a efficient manner.

    CARB — California Air Resources Board. Established in 1967 (by Gov Ronald Reagan, no less!) as an agency focused on cleaning up the smog in LA Basin. Evolved into a mega-regulator of California industry, in name of clean air. Over time, transformed into an entity of national/international reach, with power to set air emission standards on pretty much everything, ranging from tailpipes and smokestacks upstream to primary energy production. Now a total monster of an agency, captured by California Leftism.

  28. I knew some wrong when a pretty little white girl ran to a black man arms dead giveaway deaaaaaaaaaaaaaaaaaaaaaaaaaaddd giveaway on Fri, 3rd May 2024 6:52 pm 

    WHY ELITE SUPERTARD PRESIDENT EEE did not MUZZ-19 himself with reckless abandonment doesnt he believe in the SCIENCE yes yes but he got SALINE SOLUTION thats why he also got RETRACTABLE NEEDLE

  29. eee on Sat, 4th May 2024 8:54 am 

    I fucking told you that, you lost the West, Whites capable man have abandoned their nations. I hope fucking pieces of shit communists know how to fix stuff, because you are on your own. The West will never be rebuilt after the collapse. I hope you can fix your car yourself See an example below:

    —————————————

    The green new deal and switch to “alternative’ energy looks like it’s going exactly as planned: costing the taxpayer trillions of dollars and generally pissing everybody off.

    That was the case with a number of solar panel owners who are now finding it difficult to get their panels serviced, according to WBAL TV.

    Solar panel installation is touted as offering benefits like reduced energy costs, environmental friendliness, and significant rebates. However, many homeowners have discovered a concerning issue within the industry: addressing technical problems can be exceedingly challenging — if not outright impossible.

    Those interviewed shared experiences with various solar providers, each facing prolonged unresolved issues.

    https://www.zerohedge.com/markets/ive-been-totally-ghosted-after-install-solar-panels-become-maintenance-nightmare

  30. eee on Sat, 4th May 2024 10:54 am 

    The EPA is working at killing car manufacturers. You will need a King to kill all these traitors. I told you, they are not capable to teling the truth that we are running out of natural resources.

    https://www.youtube.com/watch?v=siKi79rwnYY

  31. eee on Sat, 4th May 2024 11:06 am 

    EPA is there to kill the car industrie. The ATF is there to disarmed US population, the governmental education agencies are there to create children that are obedient, submissive and worship authority.

  32. ee on Sat, 4th May 2024 11:07 am 

    You cannot have a functioning C40 city without a obedient population that worship authority.

  33. ee on Sat, 4th May 2024 11:30 am 

    There C40 cities is not going to work in the West. Whites men have abandoned the west and there is nobody to maintain the critical infrastructures. I gave an example of that above. There will be no C40 cities because there will be no ones to maintain them. In their ultime goal to create a submissive population that worship authority they destroy the educational system so much that they have nobody to maintain the infrastructures. A King will be needed to kill that many traitors.

  34. eee on Sat, 4th May 2024 12:47 pm 

    Some of us, grease monkey, have a strong suspicious that the EPA forced the car maker to use a CTV transmission to make cars unreliable and expensive to repair as a way to entice people to live in a condo and take the bus.

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

    Same with SOHC and DOHC vs a push rod engine that is easier to work on.

    Lot of traitors to kill. It will take a long time to clean up this place.

  35. eee on Sat, 4th May 2024 2:25 pm 

    The exhaust job is going better that I was hoping. It is a red neck job, but it will do the job. Really fast entropic degradation backward clock. Unless we find a door out of earth, everyone will die. Some parts of my copper brake line that are one year old are already green. I use the car twice a week to get grocery that is it. The only year old steel brake already have rust on them. This is one reason why they want to move people in these C40 cities. I will take death over slavery. They cock suckers have no morality, if they think I will submit to them, I prefer to die will killing the communists.

  36. eee on Sat, 4th May 2024 4:09 pm 

    EPA is there to kill the car industrie. The ATF is there to disarmed US population, the governmental education agencies are there to create children that are obedient, submissive and worship authority.

    Go read your bible, you will read something like this: they speak the language of lies and deceptions. See the paragraph above, this is what the bible is talking about.

  37. WHY ELITE SUPERTARD PRESIDENT EEE did not MUZZ-19 himself with reckless abandonment doesnt he believe in the SCIENCE yes yes but he got SALINE SOLUTION thats why he also got RETRACTABLE NEEDLE on Sat, 4th May 2024 6:29 pm 

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

    deaaaaaaaaaaaaaaaaaaaaaaaaaaaaddddd giveaway

  38. eee on Sat, 4th May 2024 7:44 pm 

    Another fucking thing about car. I don’t believe catalytique converter and EGR valve serve any real purposes. They are there to make cars more expensive and less reliable. Much more easier to fix an exhaust system without a catalytique converter.

  39. ee on Sat, 4th May 2024 7:53 pm 

    I would to see the chemical reaction inside a catalytic converters. I would like to see how platinum as a chemical element can break down nitrogen molecules into something else. I would like to see lab experiment and chemical analysis of exhaust done.

  40. eee on Sat, 4th May 2024 8:00 pm 

    I would like to see the thermal reaction taking place inside the catalytic converter. This is how nitrogen molecules get modify by removing heat. Is it the purpose of the catalytic converter to remove heat from the exhaust therefore removing pollutants. I need to see technical document to convince me that EGR valve actually work. A lot of people disable them like I did on my old truck.

  41. eee on Sat, 4th May 2024 8:08 pm 

    I need to see a technical document about the EGR valve and catalytic converter, including heat transfer, mass flow coming into the engine and the mass flow coming from the EGR valve.

    I also need to see an heat transfert equations sets for the catalytic converters and how is affect the chemical reaction inside the catalytic converter.

    Better to provide real science concerning both, or you should be executed for treason.

  42. eee on Sat, 4th May 2024 8:53 pm 

    I will let you decide for yourself.

    https://www.youtube.com/watch?v=gAIgSeU49LE

  43. dde on Sat, 4th May 2024 9:04 pm 

    The goal of the platinum catalytic converter is to increase the price of motor vehicle and the insurance premium because of theft of catalytic convert. The goal is to discourage people from owning a ICE car and to push people into condo living and use public transportation. What did the bible says, master of lies and deceptions. This is another example. Do you realize how many traitors you will have to kill to get your nations backs,

  44. 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 Sat, 4th May 2024 9:27 pm 

    the diseased mind of libs is a huge problem

    supertards pleae change ur undies after 10 months

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

  45. 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 Sat, 4th May 2024 9:28 pm 

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

  46. eee on Sun, 5th May 2024 12:14 am 

    One day he disappeared and he was never heard of or seen again in public.

  47. 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 Sun, 5th May 2024 12:54 pm 

    WHY ELITE SUPERTARD PRESIDENT EEE did not MUZZ-19 himself with reckless abandonment doesnt he believe in the SCIENCE yes yes but he got SALINE SOLUTION thats why he also got RETRACTABLE NEEDLE

  48. elite whitey supertard president greta has grown two ENORMOUS global warming spheres this is a problem for humanity due to climate change its a positive feedback loop on Sun, 5th May 2024 12:58 pm 

    supertards pleae change ur undies after 10 months

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

  49. eee on Sun, 5th May 2024 1:44 pm 

    You will have a lot of traitors to kill if you want to get your nation back. imagine trying to kill all the Jews living in North America.

    Why Ford Ecoboost Engines Fail

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

    Read the comments. They are throw away engines.

  50. eee on Sun, 5th May 2024 1:46 pm 

    Engines like this are designed to fail. They’re engineered to make it as close to the end of the warranty as possible.
    Between profits and government fuel economy and emissions regulations. There isn’t a modern vehicle that will be around to be considered a classic.
    If people were smart. They would stop buying the garbage being built today and demand better. But 90% of the people who buy new vehicles are only interested in a few things. Having the newest vehicle for optics. Having the latest technology in their vehicle. And truthfully, I don’t know any other reason to buy a new vehicle. If you’re concerned about the environment, maintaining an older vehicle is better than buying new. Even if you buy a new hybrid or electric vehicle. The cost of maintaining an older vehicle is less than car payments and insurance on a new car. I just don’t understand why people buy modern vehicles. They’re disposable appliances. Garbage crossovers are the worst

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