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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. ee on Tue, 7th May 2024 3:41 pm 

    The purpose of th Jews was to destroy the West and demoralized Whites men. It did work. The West will be removed from the international supply chain, probably soon and the resources will go to south east asia. You still love your fucking Jews

  2. dd on Tue, 7th May 2024 3:45 pm 

    It is the international invisible cabal from which the Jews is excluded, that is managing the world. Pretty obvious that in the process of dumbing the West and will keep South East Asia alive as long as they can. The Jews did their job good. You are still sucking Jews dick like fucking losers.

  3. ee on Tue, 7th May 2024 3:49 pm 

    Asians will go back to Asia eventually, what is the point of living in the West.

  4. ee on Tue, 7th May 2024 4:16 pm 

    You cannot compete against China. China is not the enemy, The Jews are. It is not China that is doing that, it is invisible cabal managing the world. Nobody know what they look like, nobody has ever seen them. They are the ones managing the world.

    You fucking stupid cuck sucker, really deserver torture before your execution.

    https://www.youtube.com/watch?v=GMc-Hvv_lZ0

    Start by blaming the Jews first, instead of blaming China, low IQ piece of shit.

  5. ee on Tue, 7th May 2024 4:16 pm 

    You cannot compete against China. China is not the enemy, The Jews are. It is not China that is doing that, it is invisible cabal managing the world. Nobody know what they look like, nobody has ever seen them. They are the ones managing the world.

    You fucking stupid cuck sucker, really deserver torture before your execution.

    https://www.youtube.com/watch?v=GMc-Hvv_lZ0

    Start by blaming the Jews first, instead of blaming China, low IQ piece of shit.

  6. eee on Tue, 7th May 2024 4:36 pm 

    Before blaming China, clean up your own nations. Start by killing all the Jews living in North America, after kill all the people working for various think tanks, after kill all the people of top of managerial structure of every governmental agency. Do real work instead of trying to move the blame toward China.

  7. eee on Tue, 7th May 2024 4:49 pm 

    I want to know what the Jews have to offer to the world other then chaos. At least I can order some cheap multimeter from China. At least with China I can order center tap drill bit. What does Israel has to offer to the world, nothing.

    Why are you worshipping people that offer you nothing in return and act as parasite on your back.

  8. 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 7:07 pm 

    abandon all hopes supremacist muzzies taking over the West

  9. 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 7:10 pm 

    only elite master race chink supertards can handle supremacist muzzies

  10. ee on Tue, 7th May 2024 8:41 pm 

    https://www.youtube.com/watch?v=ldOfRbFXTh8

  11. eee on Tue, 7th May 2024 8:42 pm 

    https://www.youtube.com/watch?v=Ezi-fFsNCrI

  12. ee on Tue, 7th May 2024 8:45 pm 

    https://www.youtube.com/watch?v=YFOA_3yiwHo

  13. ee on Tue, 7th May 2024 8:58 pm 

    https://www.youtube.com/watch?v=p-CnWC5N_SM

  14. the diseased minds of libs caused the demise of elite supertard presidents of this forum who MUZZ-19 themselves with reckless abandonment WENT TO SAINT PETERS on Tue, 7th May 2024 9:49 pm 

    crickets now

    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

  15. ee on Tue, 7th May 2024 9:55 pm 

    I am too lazy to explain what is the purpose of this video.

    https://www.youtube.com/watch?v=RNu8GuX_QhA

  16. eee on Tue, 7th May 2024 9:59 pm 

    I still think we need to exterminate all the Jews living on planet earth.

  17. ANAL CAPTURE SHOCK this is my first attempt at a eHarmony video im nervous but im excited at the same time i love cats i love every kind of cats i just want to hug all of them but i cant hug every cat but anyways im a cat lover and i love to run on Tue, 7th May 2024 10:03 pm 

    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

  18. 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 10:05 pm 

    ANAL CAPTURE PROLAPSE SHOCK EXTREME BAZZAIRE this is my first attempt at a eHarmony video im nervous but im excited at the same time i love cats i love every kind of cats i just want to hug all of them but i cant hug every cat but anyways im a cat lover and i love to run

    sry im thinking about cats again and again and again

    i just think how they all dont have a home. but anyways i’m a cat lover and i love to run

  19. back in March 2020 when the Convid first started elite whitey supertard thunderf00t went on self imposed quarantine and I said it smellz and demanded immediate amputation on Tue, 7th May 2024 10:07 pm 

    ask urself if someone speaks high british english does he love supremacist muzzies

    ofc he does

    please speak low english

    example: Muzzie died like a dog

  20. ddd on Tue, 7th May 2024 10:20 pm 

    I have not seen in my whole life, one failure of the earth calculator of conservation of mass. Not one. This means that natural resources depletion will happen. Revelation 19 is about the GOD’s celebrating the death of everyone on earth. Revelation 18 is about the end on globalism and the beginning of chaos it will cause. It is guarantee I will collect your cadavers. The prospect of collecting earth cadavers, might be the only thing that keep me alive. This is how I hate you.

    Killing all the Jews of the world will be something to tr, maybe it could delay the final death of everyone on earth. Something to think about.

  21. eee on Tue, 7th May 2024 10:27 pm 

    The evilness of planet earth is off the chart. I am actually shocked at how evil the population of planet earth is. I will use your cadavers as a mechanism of psychological healing so I can move forward into my new life.

  22. ee on Tue, 7th May 2024 10:37 pm 

    Earth population has no idea what morality is. This is one reason why you are here you are amoral. You need to be killed, this is why we built earth. On top of that earth population is stuck in what we could call an ego trap or extreme narcissism. On top of that you are heavily mentally retarded. This is why we are killing you and we built earth to achieve this goal.

    See met gala for ego trap

    https://www.youtube.com/watch?v=JGVq7J5_sTk

  23. ee on Tue, 7th May 2024 10:48 pm 

    Earth population is stuck in self a destructive reinforcing ego feeding loop. You are mentally retarded so you don’t have the IQ to get out of self reinforcing ego loop.

    https://www.youtube.com/watch?v=U4pLlmLEMzc

  24. eee on Tue, 7th May 2024 11:01 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

  25. eee on Wed, 8th May 2024 4:44 am 

    I want to know why Whites people worship the Jews. They have nothing to offer you and hate your because your are White.

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

    With the Chinese I get something in return, cheap electronic parts, I have full of them in my electronics projects and it works fine, cheap electronic multimeter.

    What does Israel has to offer the world, nothing, other then chaos.

  26. eee on Wed, 8th May 2024 4:46 am 

    Whites people from the West are fucking losers. See below the fucking losers.

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

  27. eee on Wed, 8th May 2024 4:48 am 

    I have no respect for the Europeans.

  28. eee on Wed, 8th May 2024 4:51 am 

    Show me one failure of the principle of conservation mass. You cannot. I am here to collect your cadavers. Fuck I hate the population of earth, and I want them dead so bad.

  29. eeedd on Wed, 8th May 2024 4:53 am 

    Look at this fucking loser (Macron). I GOD I want you to die so bad,

    https://www.youtube.com/watch?v=pCH_nH_vRn0

  30. eee on Wed, 8th May 2024 4:59 am 

    il y a 14 minutes
    remove
    The western elite parasites, with the help of their tribal masters, created the Chinese communist golem – to save some bucks on labor costs, of course.

    They thought they could control their monster…but the monster says; Nope…

    It is Jews that send all the US manufacturing to China. Kill the Jews before blaming China.

  31. eee on Wed, 8th May 2024 6:09 am 

    Fucking I hate the European. Notice that Xi did not stop at Belgium where the European commission head quarters are located. Nobody like these pretentious succeux de grains

  32. eee on Wed, 8th May 2024 6:39 am 

    Notice how heavily mentally retarded Europe is. All these concepts of diversity, inclusion, mass migration, gayness and other crap is coming from Europe and the Jews.

    European and Jews are toxic and should be avoided.

  33. eee on Wed, 8th May 2024 7:09 am 

    Xi would not stop to Belgium, the bitch Ursala invited herself to the meeting in France with Macron and Xi. Stupid worthless cunt.

  34. ee on Wed, 8th May 2024 7:16 am 

    Am I the only one who want to shut Anderson Cooper in the face with a shotgun loaded with a slug or BB balls. I must not be the only one.

    https://www.youtube.com/watch?v=mchsOA2RDus

  35. eee on Wed, 8th May 2024 7:20 am 

    I think Anderson Cooper is gay. Maybe I could put the barrel on my shotgun in his ass and and press the trigger.

    https://www.remarms.com/other-products/v3-tac-13

  36. 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 Wed, 8th May 2024 7:21 am 

    supremacist muzzies On This Day…
    May 08, 2016: Mbaale, Uganda
    A young woman is strangled by her husband
    for converting to Christianity: 1 Killed

    ANAL PROLAPSE CAPTURE SHOCK EXTREME BAZZAIRE

  37. eee on Wed, 8th May 2024 7:34 am 

    Kim Jong Un honors North Korean propaganda chief who died at 94

    https://www.youtube.com/watch?v=VnH4d6qUgSg

    Honor propaganda chief, this is fucking funny. They are even not hiding it anymore.

  38. eee on Wed, 8th May 2024 7:40 am 

    The main street medias are almost all own by the Jews. NBC is telling you that the Jews are using the media to manipulate the US population.

    https://www.youtube.com/watch?v=VnH4d6qUgSg

    They are telling you straight to your face that the Jews are up to no good. I think owning the media was part of the protocol of zion.

  39. eee on Wed, 8th May 2024 7:53 am 

    This is fucking bad ass looking shotgun. The designed of the shotgun screams, kill communists with me.

    The perfect communists killing machine below:

    https://www.remarms.com/other-products/v3-tac-13

  40. ee on Wed, 8th May 2024 8:00 am 

    Imagine shooting Madcow in the face with this

    https://www.remarms.com/other-products/v3-tac-13

    Imagine the pleasure and orgasm a man would get from killing that space alien.

    https://www.youtube.com/watch?v=s4A4vtsYTwA

  41. ee on Wed, 8th May 2024 8:04 am 

    Imagine shooting Colbert in the face with this baby:

    https://www.remarms.com/other-products/v3-tac-13

    Imagine the pleasure and orgasm a man would get from killing that space alien.

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

  42. ANAL SHOCK EXTREME CAPTURE PROLAPSE BAZZAIRE elite whitey supertard president greta has grown two ENORMOUS global warming spheres on Wed, 8th May 2024 9:33 am 

    supremacist muzzies On This Day…
    May 08, 2016: Mbaale, Uganda
    A young woman is strangled by her husband
    for converting to Christianity: 1 Killed

  43. ee on Wed, 8th May 2024 10:42 am 

    Don’t worry. I will not shoot you in the face with this.

    https://www.remarms.com/other-products/v3-tac-13

    I was at Canadian Tire shopping for a new car jack.

    I saw these two itme nezt to antoher one:

    https://www.canadiantire.ca/fr/pdp/jeu-de-douilles-mastercraft-122-pc-sae-metrique-crv-fini-acier-noir-0580385p.html?rq=ratchet+set#srp

    https://www.canadiantire.ca/fr/pdp/jeu-de-douilles-mastercraft-233-pc-sae-metrique-placage-nickel-chrome-0589235p.html?rq=ratchet+set#srp

    How many pieces these set have one has 122 and the other one has 233. Again notice the number 22 et 33.

    For some reason earth is my reality and you life belong to me. I can shoot you in the face if I want you, it is not murder, you belong to me and we live in a simulation You exist only for my personal entertainment,

  44. eee on Wed, 8th May 2024 11:38 am 

    Here are my boy training. I am kidding, I am just fucking with you.

    https://www.youtube.com/watch?v=FZsjAjckg9g

  45. eee on Wed, 8th May 2024 12:09 pm 

    This planet earth only exist to serve me and entertainment me. Eternity is a long time, a GOD needs entertainment here and there.

  46. eee on Wed, 8th May 2024 12:39 pm 

    Look a pickup truck and an helicopter in the same frame. I said that I like pickup truck as army vehicles. I was making fantaisie scenarios in my head where I was using helicopter to fire at the top of building where the top administration of governmental agencies most likely have their offices.

    https://www.youtube.com/watch?v=FZsjAjckg9g

    The helicopter are there shoot directly into the offices of high level administrators working for the governmental agencies.

    https://www.youtube.com/watch?v=ER92dbK8Edc

    I told you, I own this fucking planet.

  47. eee on Wed, 8th May 2024 12:49 pm 

    I also wanted to fire directly at appartements buildings where the invaders live. I was planning to use helicopters to fire at condo from the top. I wanted to use air bombing to bomb areas where there is a lof of tall condos together.

    I know how to do war.

  48. eee on Wed, 8th May 2024 12:51 pm 

    The Jews should leave North America while they still can.

  49. eee on Wed, 8th May 2024 1:44 pm 

    0:41 you see the condos behind. We will carpet bomb them from the air. We are going to bomb down your shit C40 cities. During the carpet bombing we will shutdown the water and electricity and kill everyone that try to leave the area. This is where pickup truck with machines guns come handy. I love the C40 cities. So easy to destroy. You should leave now while you still can

    https://www.youtube.com/watch?v=jiFi3kO-oCE

  50. eee on Wed, 8th May 2024 2:10 pm 

    C40 cities. Look at the craned in the back ground build high rise building at 0:43. Perfect targets from the air. Concentrated in a small area. You can do a lot of damage in a short period of time using air bombing. Small area easy to cut off main access roads, so people cannot leave. Perfect death trap.

    https://www.youtube.com/watch?v=JTGaE5GYdDw

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