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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 Mon, 6th May 2024 6:16 pm 

    Watch the US 10 year treasuries yield. You will see how long you have before hyperinflation destroy the US currency and force nations to move away from the US dollars. Fucking pieces of shit low IQ cock suckers.

  2. eee on Mon, 6th May 2024 6:43 pm 

    I told you lost the West. I told you Canada will never be rebuilt after the collapse, Capable people will leave the West. You fucked. The natural ressouces will be send to China. Their plan worked.

    Poste Canada déficitaire: est-ce la fin du courrier 5 jours par semaine? – Explications, 17h

    https://www.youtube.com/watch?v=76RQ6RLAxPg

    You should never taken my handguns from me.

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

    Regarde moi la grosse chienne sale a Duclos.0:29 Il n’a même pas l’air d’un humain. Regarde ta face de minable dans un mirror Duclos mon criss de trou du cul. Tu es laid en tabernacle.

    https://www.youtube.com/watch?v=u3EJS1Wh270

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

    This is an example of what I mean when I am saying you lost the West. Young people will see that and leave the West for other nations.

    https://www.youtube.com/watch?v=76RQ6RLAxPg

  5. eee on Mon, 6th May 2024 7:02 pm 

    Immigrant will that and will return back home, especially the Chinese. Immigrant will go back home and the West will become even worst the South Africa. I told you, you lost the west. Immigrant will leave and bring their money with them, that will collapse the banking system of the West.

    Never take away the handguns of a Whites man.

    https://www.youtube.com/watch?v=76RQ6RLAxPg

  6. eee on Mon, 6th May 2024 7:08 pm 

    I am surprised that Canada lasted that long. It is a fucking shit hole. Winter are too long, everything is too expensive, there is no real freedom, see handgun restrictive laws, women are mentally retarded with an over inflated ego,.

  7. ee on Mon, 6th May 2024 7:12 pm 

    Québec is also running out of money to finance public transportation. You lost the West as I told you many times. Immigrants will go back home with their money and will crash Canada banking system to the ground. I told you that the West is not going to be rebuilt.

    https://www.youtube.com/watch?v=MQO8Tj4Vo6U

  8. eee on Mon, 6th May 2024 7:18 pm 

    Everything work as planned earth is running out of natural ressouces.

  9. eee on Mon, 6th May 2024 7:30 pm 

    A shit hole like Canada that was relying on mass migration and a housing market to generate economic activity will sink really fast once the immigrants stop coming and start leaving.

  10. eee on Mon, 6th May 2024 8:03 pm 

    We force planet earth to use globalism as a trade mechanism. How did we do that. Put a limited amount of natural ressource all over the planet. You had no choice but come up with some kind of maritime trade. The reason as to why we force earth on using maritime trade was to put pressure on oil ressource and accelerate oil depletions. Earth has been designed to torture its population this was one of our main design criteria when we allocated geographical locations of natural resources. You just have no idea how much we hate you.

  11. eee on Mon, 6th May 2024 8:08 pm 

    The flesh body was designed to torture you physically and mentally.

  12. eee on Mon, 6th May 2024 8:13 pm 

    You cock sucker are so stupid. Eating and shitting is an act of humiliation. We did this on purpose to humiliate you. We put the asshole next to the vagina to make fun of women.

  13. eee on Mon, 6th May 2024 8:18 pm 

    You see this fucking piece of shit of Legault. He is lying to Québecers. He loves immigrants bécue he know that Canada is using them as slave labor and to create economical activity.

    Once in a while they come out and speak against immigration to appease Whites men like me so we don’t abandoned our nations. It is the same trick they are using in US, UK, and Europe.

    https://www.youtube.com/watch?v=qlIU50aOcGY

  14. eee on Mon, 6th May 2024 8:34 pm 

    Notice how Québec and Canada never in the past 20 year shut down the immigration pipeline. They want the immigrants here, and are happy to lie to Whites people about how they would like to stop immigration but are not capable of doing it. Notice how they increase their immigration target almost every year.

  15. eed on Mon, 6th May 2024 8:38 pm 

    Look how much Québec like immigrant.

    https://www.quebec.ca/immigration

    Look how much Canada like immigrants

    https://www.canada.ca/fr/immigration-refugies-citoyennete/services/immigrer-canada.html

    Canadian politicians like lying to Whites people and pretend they care about the future of Whites people

  16. eee on Mon, 6th May 2024 8:43 pm 

    Québec and Canada could put their immigration target to 0 for the next 5 year if they wanted to, but they refuse to do it because Canada does not have a real economy. Canada has what I call and immigration economy. Canada is a total fraud.

  17. 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 Mon, 6th May 2024 9:00 pm 

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

  18. eee on Mon, 6th May 2024 11:01 pm 

    I am not here to help planet earth. I will not be your King. I piss and shit on Québec and Canada. I will not be your militia leader and will not part of a civil. I am Whites and I have abandoned the West. I care only about myself and my personal confort, and you can all go fuck yourself.

  19. eee on Mon, 6th May 2024 11:03 pm 

    I am not here to help planet earth. I will not be your King. I piss and shit on Québec and Canada. I will not be your militia leader and will not part of a civil war. I am Whites and I have abandoned the West. I care only about myself and my personal confort, and you can all go fuck yourself.

  20. eee on Mon, 6th May 2024 11:08 pm 

    I want my robe of made of bloods, I want to walk over your cadavers. I hate the population of earth this is why I help in the designed of earth as a torture chamber.

  21. I knew some wrong when a pretty little white girl ran to a black man arms dead giveaway deadddddddddddddddddddddddddddd giveaway on Tue, 7th May 2024 7:58 am 

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

  22. eee on Tue, 7th May 2024 8:45 am 

    We have this thing locked and loaded. Show me one failure of the conservation of mass principle. If you cannot show me one failure of the conservation of mass, it means you will die here. It is guarantee I will collect your cadavers.

  23. eee on Tue, 7th May 2024 8:56 am 

    Show me one instance where someone did chemistry and the principle of conservation of mass failed. Show me one instance in an hydraulic system such as potable water distribution where the principle of conservation of mass failed.

    You cannot, therefore everyone on earth will die as it is supposed. I told you it is a perfect execution chamber and we thought about everything. We wanted to be sure of the total death of everyone on earth.

    That is what revelation 19 is about. It is us celebrating the death of earth populations.

  24. eee on Tue, 7th May 2024 9:02 am 

    Regarding civil war in the US. I don’t think Whites people will be involved in it. Whites people have abandoned the West long ago. Why do you think we play video games and watch TV all days long, because we have abandoned the West. The demoralization campaign of Whites people started a long time ago: feminism, antisemitism, racism, Whites supremacy and so on. Whites people have abandoned the West a long time. You demoralizations tricks worked and we checked out a long time ago.

    If there is a civil war in the US, it will fight among diversities for land control.

  25. eee on Tue, 7th May 2024 9:14 am 

    Notice that people in the Civil war movie are all Whites. When it is time to die for the globalists and bankers, Whites people are send to their death while the diversity sits on the sidelines and watch us die.

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

  26. ee on Tue, 7th May 2024 9:20 am 

    I am Whites. Notice when the globalist and bankers have a big problem that threaten their lives, they always contact a Whites personne, never a diversity. I am still waiting for a salary for the 4 year of work I did. You see, typical., when they have a big problem, you find a Whites person and try to manipule him.

  27. dd on Tue, 7th May 2024 9:27 am 

    They shit on Whites men, but when the situation is really critical they contact a Whites masculine man, not a gay, not a metro sexual, a masculine Whites man. So fucking typical that it is insulting. Notice how confortable they feel about abusing Whites men. 4 years no salary, they always taken the Whites masculine man for granted. Go fuck yourself.

  28. ee on Tue, 7th May 2024 9:49 am 

    They talk all the time about extreme right but there is no extreme right. They are trying to start a civil war so Whites people go die for the globalists and it is not working. That was the purpose of J6. To start a civil war and hope that Whites people will go die for the globalists killing the immigrants that have invited in Western nations by the globalist themself.

    https://www.youtube.com/watch?v=YpdYr2JSzs8

    Listen to this German cock sucker speaking about exterm right, it is not working Whites people will no particape into civil war. Clean up your own mess cock sucker.é

  29. ee on Tue, 7th May 2024 9:55 am 

    The immigrant are actually welcome bu the globalists in Western nations. And now, we are supposes to start a civil war to kill the immigrants that were invited in by the globalist themself. Who the fuck do you think we are.

    You see these two cock sucker below, they love the immigrants. What other proof do you need. You should have the decency to shutdown your websites, before asking us to go die for the globalists.

    https://www.quebec.ca/immigration

    https://www.canada.ca/fr/immigration-refugies-citoyennete.html)

  30. eee on Tue, 7th May 2024 10:18 am 

    I like how stupid these cock suckers are. You want to start a civil war in Canada but you have really restrictive firearms laws. How are you going to do with these restrictive firearms laws. Stupid low IQ cock suckers.

    You are fucked. You have lost the West.

  31. ee on Tue, 7th May 2024 10:22 am 

    The other issue about a civil war, in general, bullets are made of copper. You are running of copper, go check the price of electrical copper wire and tell me what you think about it.

    There will be no civil war, you lost the West deal with it.

  32. 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 Tue, 7th May 2024 11:07 am 

    the diseased minds of libs told us trust the science! and all supertards MUZZ-19 themselves then WENT TO SAINT PETERS

    Now the diseased minds of live warning death and destruction GLOBAL WARMING

  33. eee on Tue, 7th May 2024 11:10 am 

    Go watch the US 10 year treasuries yields. Civil war without Whites and diversity fighting each other for control of the land. Time will tell. Whites man will not be there. We will stay home and fart in our recliner chair while watching porno. It is not Whites problems.

  34. eee on Tue, 7th May 2024 11:14 am 

    The banker want a lower 10 year treasury yield, they restart to housing market. Everyone is happy. The banker makes money using hyperinflation and some people get a US civil war where diversity fight each other, while the Whites men stay home masturbating to bad CGI porn. Everyone is happy.

  35. dd on Tue, 7th May 2024 11:18 am 

    Notice that there is not enough natural resources to rebuilt. Who ever is lowering the US 10 year treasury rate is doing it as revenge and retaliation. This is the end of the US as a nation and the end of the US currency as reference currency. Who will be the next host for the parasitic state of Israel and the Jews.

  36. eee on Tue, 7th May 2024 11:24 am 

    Show me a failure in the calculator of conservation of mass. If you cannot, it means that everyone on earth will die as planned by us moons ago by us.

  37. eee on Tue, 7th May 2024 11:30 am 

    Everyone knows that the US will never be rebuilt once it has collapsed. You are sending your clowns in to do damage control and stop the fall of the 10 year US treasury.

    Fed Most Likely to Hold for ‘Extended Period,’ Kashkari Says

    https://www.youtube.com/watch?v=sBorG4FIm2Q

  38. eee on Tue, 7th May 2024 11:52 am 

    MUCH OF RUSSIA RETURNED TO WINTER; HEAVY SNOW HITS ARGENTINA A MONTH EARLY; SPAIN CHILLS; “BEST MAY POWDER DAYS IN MEMORY” AT PALISADES; COLD ANTARCTIC COAST; + X4.5-FLARE

    I want your fucking cadavers, and I will get them one way or another.

  39. eee on Tue, 7th May 2024 12:48 pm 

    I want all the population of earth dead, and I want their cadavers delivered to me. Never, but Never take away the handguns of man.

  40. eee on Tue, 7th May 2024 1:00 pm 

    Some man will kill all the population of earth to make a point about handgun laws.

  41. eee on Tue, 7th May 2024 1:54 pm 

    I want your fucking cadavers. I have not seen one failure of conservation of mass calculator in this reality, not one. Natural resources depletion will happen. It is guarantee I get your fucking cadavers.

  42. eee on Tue, 7th May 2024 2:01 pm 

    A failure of the calculator of conservation of mass will mean that you would not be able to balance STOICHIOMETRY your chemical equations mans that you would not be able to make any kind of chemical products. GOD I want you dead.

    https://ecampusontario.pressbooks.pub/genchempourlesgeegees/chapter/1-3-stoechiometrie-des-reactions/

  43. dd on Tue, 7th May 2024 2:08 pm 

    I will repeat that never, never take away the handguns of a man. Never take a away his rights to carry an handgun on him without a license. Never do that, ever.

  44. ee on Tue, 7th May 2024 2:10 pm 

    I will kill everyone living on planet earth just for a question of handguns rights. Never take away the handguns of a man.

  45. ee on Tue, 7th May 2024 2:21 pm 

    Show to me fucking cock suckers one failure of the conservation of mass calculator. Show it to me. I want the cadavers of every human living on earth.

  46. ee on Tue, 7th May 2024 2:26 pm 

    We designed earth in such a way that cadavers of the population of earth will be delivered to us.

    Revelation 19 is about us celebrating our success in killing everyone living on earth. Read revelation 19 again, you will see what I mean.

  47. eee on Tue, 7th May 2024 2:38 pm 

    Conservation of mass. I told the West is never going to be rebuilt earth does not have Natural resources for that. Go into an hardware store and see for yourself by checking the price for copper electrical wires. I want your fucking cadavers.

    Fiercer competition in copper raw material market amid earlier-than-expected supply tightness in copper concentrate market | 2024 preview

    https://www.fastmarkets.com/insights/fiercer-competition-in-copper-raw-material-market-amid-earlier-than-expected-supply-tightness-in-copper-concentrate-market-2024-preview/

  48. ee on Tue, 7th May 2024 2:44 pm 

    In fact, earth might run out of copper before we run out of oil. No copper no electrical motors. It is starting to look that way. The depletion of copper is what will be the cause for the shutdown the international supply chain. Are we good or what. I told you I want your fucking cadavers.

    Never take away the handguns of a man. Never do that.

  49. ee on Tue, 7th May 2024 2:49 pm 

    I dare the US federal reserve to lower the interest rate and manipulate downward the 10 year treasury yield. I dare you to do it fucking low IQ cock suckers.

  50. eee on Tue, 7th May 2024 3:37 pm 

    Thailand never disappoint. To bad I am not rich enough to travel. Pattaya is a testing ground for the C40 cities concept (made be some invisible people that cannot be identified) of a red light district to pacify agressive man with sex. First 5 sec. I told they have abandoned the West and are deploying all the resource and time toward South Asian as a survival and manufacturing hub. They are going to dumb the West, especially now that the copper is running low, watch the cabal dump the West in favor of South East Asia.

    https://www.youtube.com/watch?v=yKWzw6EFL-0

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