Saudi Aramco CEO: ‘The Energy Transition Is Failing. Policymakers Should Abandon the Fantasy of Phasing Out Oil and Gas’

by Paul Serran at

The climate alarmist cult is in planetary disarray, with their once-unquestionable ‘scientific theories’ and ‘environmental policies’ getting rejected at a rapid pace in many parts of the world.

European farmers and Canadian Provincial Premiers and conservatives everywhere in the western world are getting increasingly vocal about the shortcomings of the so-called ‘Green New Deal’.

In this context, it’s reassuring to see some measure of pushback from people who have real skin in the game, like Big Oil moguls.

The world’s biggest oil producer is the Saudi company Aramco. Its CEO, Amin Nasser, just came out yesterday (18) and said that the energy transition envisioned by the ‘global warming’ crowd is failing.

He went ahead and in a rare show of honesty, advised that policymakers should abandon the ‘fantasy’ (ouch!) of phasing out oil and gas, as he is sure demand for fossil fuels is expected to continue to grow in the coming years.

CNBC reported:

“’In the real world, the current transition strategy is visibly failing on most fronts as it collides with five hard realities’, Nasser said during a panel interview at the CERAWeek by S&P Global energy conference in Houston, Texas.

‘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’, the CEO said to applause from the audience.”

Nasser said oil and gas demand is unlikely to peak in 2030 or any time soon, and pointed out that these projections only account for the demand in the U.S. and Europe – but needs to focus on the developing world as well.