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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?

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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 Sun, 5th May 2024 2:02 pm 

    GOD has his own reason to torture earth population to death. I suspect that you try to steal his Kingdom from him. You tried to stole something (his Kingdom) from him that you did not create. This is why you are here

    I have also my own reasons, you denied me personal protection using an handgun bought without a license. For that, I want everyone on planet earth death for what you did to me

  2. WHY elite supertard EEE is not fascinated by 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 2:16 pm 

    supertards pleae change ur undies after 10 months

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

  3. eee on Sun, 5th May 2024 2:58 pm 

    I want you dead for a question of handguns, the GOD that created the earth or calculator of conservation of mass (depletion) wants you dead. How many other entities in the invisible world, want the population of earth dead. You are here because you are garbage soul and you have been scheduled for total and permanente deletion.

  4. eee on Sun, 5th May 2024 3:29 pm 

    Nobody is coming to save the population of earth. Some people might come to walk over your cadavers.

  5. WHY elite supertard president EEE is not fascinated by 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 HE IS THE GHEY on Sun, 5th May 2024 4:24 pm 

    supertards pleae change ur undies after 10 months

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

  6. eee on Mon, 6th May 2024 9:08 am 

    I never saw of failure of the law of conservation of mass. We send the people that we hate on earth for final execution. We hate women, all of them, we created women to bring chaos and destructions on earth.

    I never saw one failure, it mean that natural ressources depleting will happen as planned.

    The law can be formulated mathematically in the fields of fluid mechanics and continuum mechanics, where the conservation of mass is usually expressed using the continuity equation, given in differential form as

    Changing the law of conservation of mass would mean that water potable system could stop working. There is a reason why it is a cohesion calculator and it is locked.

    The law can be formulated mathematically in the fields of fluid mechanics and continuum mechanics, where the conservation of mass is usually expressed using the continuity equation, given in differential form as

    https://en.wikipedia.org/wiki/Conservation_of_mass

    I am here to walk over your cadavers. Never take away the handguns of a man.

  7. ddd on Mon, 6th May 2024 9:54 am 

    This is for the population of earth. You have no idea what we are about to do to your flesh enveloppe or flesh body. Wait until we torture your fucking soul

    You have no idea how much physical pain we are about to put on people living in a flesh body. You should suicide yourself now, while you still have time.

  8. eee on Mon, 6th May 2024 10:10 am 

    The population of earth is such a bunch of low IQ losers. Only losers worship the flesh body. The flesh body is one of the worst vehicle ever created. It was created with the purpose to torture you using physical pain. This is why, the flesh body is fragile, lack physical strength, lack endurance, because it is a torture chamber we designed to torture you because we hate you.

    That almost all the population of earth worship such a piece of crap is shocked to us.

    I will repeat that, never take away the handgun of a man.

  9. eee on Mon, 6th May 2024 10:26 am 

    The flesh body is shit vehicle that does not allow dimensional and time travelling. You are stuck here in your crap flesh body and you can go nowhere. we did that on purpose. You can even not do telepathic communication using a flesh body like I do. We block your ability to connect to anything outside of earth. You cannot access information field from outside the earth like I do sometimes. Do you understand how much we hate y ou.

  10. eee on Mon, 6th May 2024 10:37 am 

    The bible talk about the fact that during the rapture people won’t be able to die or suicide themself. I would kill myself now, if I were you while you still have time.

  11. WHY elite supertard president EEE is not EXCITED by 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 HE IS THE GHEY on Mon, 6th May 2024 10:45 am 

    supertards pleae change ur undies after 10 months

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

  12. ee on Mon, 6th May 2024 10:46 am 

    The calculator of conservation of mass and the calculator of entropic degradation are there to make sure that earth is a short life span reality. They are safety blocks, if you will, to we put there to make sure that we will reach our goal that is to kill all the population of earth.

  13. ee on Mon, 6th May 2024 10:47 am 

    GOD. it is worst then we thought, you are not stupid, you are heavily mentally retarded.

  14. ee on Mon, 6th May 2024 10:55 am 

    Everything is inverted on planet earth. The Jews are seen as the good guys and Whites people the bad guys. Earth is an inverted reality.

    In fact Jews are the bad people and Whites are the good people. We are using the Israel war to inverse reality, we are making the Jews the Bad people and Whites the good people as it should always been. We are inverting the inversion to show that Jews are the bads guys.

    It is an inversion of an inversion if you will.

  15. ee on Mon, 6th May 2024 11:05 am 

    Because the Western world support Israel we are also inverting the Western world. Propalestinien protests is about making the Western world look bad on the internationale scene.

    The Western value are seen as good, the rest of the world bad. By the inverting the Jews and making them bad again, we are also inverting the Western world image. The Western world is now going to be seen as bad and the rest of the world as good.

    With the Israel war we are inverting two things. We are making Jews bad as it should always been. We are also making Western nations as bad and other nations as good. The West is done and will never recover from that

    We are

  16. ee on Mon, 6th May 2024 11:07 am 

    I told you that we are really powerful. The population of earth means nothing to us.

  17. ee on Mon, 6th May 2024 11:11 am 

    This inversion could also applied to Russia. The West is seen as good with the Ukraine war and Russia bad. It is also an inversion. We will reestablish the truth, by making Russia good and the West and Europe bad. We are inverting back everything we can invert.

  18. ee on Mon, 6th May 2024 11:13 am 

    There is no fucking the West will never be rebuilt. If you are Whites and you can leave the West.

  19. ee on Mon, 6th May 2024 11:15 am 

    The West is done. The Jews have destroyed the West and on top of that we also destroying the West by inverting their inversion. Leave the West if you are capable of.

  20. ee on Mon, 6th May 2024 11:25 am 

    Never take away the handguns of a man. It is not a good idea to do that.

  21. eee on Mon, 6th May 2024 11:27 am 

    If you can leave the West, this is my advice to Whites man. If you cannot leave the West, find ways to isolate yourself as much as you can from the West

  22. eee on Mon, 6th May 2024 11:54 am 

    Depending how things will go, we will inverse féminité that is seen as good and masculinity that is bad. We will invert this and femininity bad and masculinity good.

  23. eee on Mon, 6th May 2024 11:58 am 

    Make no mistake earth population will be killed at the end. We will inverted some part of this reality and collect data from the invisible world. We will do it just because we can.

  24. eee on Mon, 6th May 2024 12:00 pm 

    If you are a White man and you can leave the West, you should do it now.

  25. eed on Mon, 6th May 2024 12:16 pm 

    Oh, let the sun beat down upon my face, with stars to fill my dream.
    I am a traveler of both time and space to be where I have been.
    To sit with elders of a gentle race this world has seldom seen.
    Who talk of days for which they sit and wait
    When all will be revealed.

    Oh, all I see turns to brown
    As the sun burns the ground.

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

  26. eee on Mon, 6th May 2024 12:24 pm 

    Never but never take away the handguns of a man.

  27. eee on Mon, 6th May 2024 1:26 pm 

    I found another lead on my exhaust system next to the resonator. You can see the hatred that GOD has for the population by working on cars.

    You are on earth because you are losers. You are because we don’t want you with us. You are for final execution.

    Earth is the garbage can of the universe. You fucking female smells bad, her vagina smells bad. She is a despicable creature that should be beaten to death.

  28. eee on Mon, 6th May 2024 1:27 pm 

    You are here on earth because you are losers. You are here because we don’t want you with us. You are here for final execution.

  29. WHY elite supertard president EEE is not EXCITED by 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 HE IS THE GHEY on Mon, 6th May 2024 1:33 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

    supertards pleae change ur undies after 10 months

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

  30. eee on Mon, 6th May 2024 1:44 pm 

    I love seeing earth population fighting for natural ressources. It was our idea. This is subtile way for ut to torture the population of earth by having it fight among themself for natural resources.

    We are proud of this subtile torture method that we came up with. The evilness of the Jews is nothing compare to our evilness.

  31. eee on Mon, 6th May 2024 1:51 pm 

    How do you like the earth female. Isn’t she something to worship. We gave earth the most evil female we could come up with. We hate to tune her evilness down a bit, otherwise she would have destroy earth in a too short time frame. We tune her evilness down because we wanted to torture earth population a certain amount of time. The evilness of the Jews is nothing compare to ours. The Jews is a fucking amateur in term of evilness and chaos.

  32. eee on Mon, 6th May 2024 1:55 pm 

    We had discussions about what kind of mental retardation level should we program the human female. We went for something between mildly retarde and average retarded. But we made her retarded make no mistake about that.

  33. eee on Mon, 6th May 2024 1:59 pm 

    All these beta cuck and metro sexual men are also retarded because they have a female mind also. Female mind = mental retardation.

    The Jews is a fucking amateur in term of evilness.

  34. ee on Mon, 6th May 2024 2:14 pm 

    How do you like your crappy fleshy body. We could have been even more evil then that. You like your torture chamber called the human flesh body.

    fucking pieces of shit low IQ succeur de grains.

    I will repeat that, never take away the handguns of a man.

  35. ee on Mon, 6th May 2024 2:16 pm 

    How do you like your crappy fleshy body. Do you like cutting your hairs. Do you like the smell of your flesh body after an hard day of work.

    Do you like the smell of shit, do you like the smell of your own piss. The Jews is an amateur regarding evilness.

  36. eee on Mon, 6th May 2024 2:19 pm 

    Do you know why we cover some part of your human body with body hairs: head, génital, facial.

    Because it makes you look ugly and primitive.

  37. eee on Mon, 6th May 2024 2:21 pm 

    The evilness of Jews is nothing compare to ours. You have no ideas how much we hate you.

  38. eee on Mon, 6th May 2024 2:45 pm 

    From revelation 19

    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. 14 The armies of heaven were following him, riding on white horses and dressed in fine linen, white and clean. 15 Coming out of his mouth is a sharp sword with which to strike down the nations. “He will rule them with an iron scepter.”[a] He treads the winepress of the fury of the wrath of God Almighty. 16 On his robe and on his thigh he has this name written:

    king of kings and lord of lords.

    What this part means

    He is dressed in a robe dipped in blood, and his name is the Word of God.

    The blood of his robe is the blood of earth population. He is the one that has created earth as an execution chamber. He is the one that has created the calculator of conservation of mass if you will. He will come to walk over your cadavers.

  39. ee on Mon, 6th May 2024 2:59 pm 

    Reading my comments fucking whore. Are you afraid of me and what I would to do you and all the politicians of North America. Are you talking to me fucking whore.

    https://twitter.com/i/status/1787470550320689252

  40. eee on Mon, 6th May 2024 3:08 pm 

    Reading my comments fucking whore. Are you afraid of me and what I would to do you and all the politicians of North America. Are you talking to me fucking whore.

    https://twitter.com/i/status/1787470550320689252

    She said what are you going to do to protect this country = what are you going to do to protect me and the parasitic elites of this country.

  41. ee on Mon, 6th May 2024 3:29 pm 

    Some people are pushing the US treasuries yields lower. Trying to start a civil war within the US by destroying the US currency with hyper inflation.

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

  42. eee on Mon, 6th May 2024 3:45 pm 

    There is not enough natural resources to rebuild the US after a civil. If there is a civil war, it will be about revenge and retribution. It is going to be blood for blood.

  43. ee on Mon, 6th May 2024 3:53 pm 

    In a civil war, the first targets will be the politicians and their families.

  44. eee on Mon, 6th May 2024 3:59 pm 

    After the politicians, it will the news anchors and journalists. After that it will the people in position of power among governmental agencies: FBI, CIA, EPA, ATF

  45. ee on Mon, 6th May 2024 4:04 pm 

    After the politicians, it will the news anchors and journalists. After that it will the people in position of power among governmental agencies: FBI, CIA, EPA, ATF. After it will be the medical establishments, education system including universities. You get the ideas.

  46. eee on Mon, 6th May 2024 4:06 pm 

    It is not about rebuilding the US, it is about revenge and retributions.

  47. eee on Mon, 6th May 2024 4:29 pm 

    I knew you were reading my comments. Bidet used the words retribution and revenge in his speech. We all know it is coming and there is nothing you can do to stop it.

    https://www.youtube.com/watch?v=wa4IDSKCoOM

  48. eee on Mon, 6th May 2024 4:31 pm 

    26:30 vengeance and retribution. That is the end of the line for the West. It will end in a blood and will never be rebuilt.

    https://www.youtube.com/watch?v=wa4IDSKCoOM

  49. eee on Mon, 6th May 2024 5:04 pm 

    Whites people are not going to show up to fight in a civil war. They have abandoned the West. The civil war will take place among the diversities for the control of various piece of lands. I expect that the Whites people will hide during the civil war. Nothing will ever be rebuild and Whites people will disperse through the world and go extinct. Whites demographic are too bad.

    Inflating the currency is a way to start a civil war amount diversity.

  50. eee on Mon, 6th May 2024 5:08 pm 

    The goal of hyperinflating the US currency is to finish the destruction of the US and remove the US out of the supply chain using a civil war.

    The civil war will take place among the diversities and Whited people will be mainly absent.

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