VIDEO: Aramco CEO Amin Nasser speaks about the energy transition at World Petroleum Congress
Amin Nasser says current approach to energy transition makes poor assumptions about renewables scalability and doesn’t pay enough attention to the economic development, especially in the developing world.
The world needs to strengthen its plan for the energy transition to ensure it proceeds smoothly and acknowledge that petroleum will be a crucial part of the global economy’s energy mix for decades to come, Saudi Aramco president and CEO Amin Nasser said at the 23rd World Petroleum Congress in Houston on Monday.
The current approach to the energy transition mistakenly assumes that renewables, such as wind and solar, will be able to scale up quickly, and that commercially viable alternatives to conventional fuels will arrive soon. It also fails to pay enough attention to energy security, economic development, and affordability issues, especially in the developing world, he said.