VIDEO: Aramco president and CEO Amin Nasser speaks at CERAWeek
“All energy sources will be needed to support a successful transition, but our industry must play its part, too.”
Oil and gas demand has surged back as economies recover.
If alternative energy sources could have shouldered the burden, they would have. Furthermore, mixed signals have only added to the chaos.
For example, as oil and gas investments are discouraged, demands are being placed on our industry to increase production. This is not only a direct threat to economic prosperity, energy security, and a sure path to unaffordable energy supply.
It compromises climate protection progress every passing day. The transition process is still being dominated by narrow groupthink.
In the meantime, many energy companies and energy professionals are, at best, politely ignored.
So let me be clear today. All energy sources will be needed to support a successful transition, but our industry must play its part, too.
That means listening hard to legitimate concerns, including about our industry, particularly by young people when they talk of a climate emergency.
It means talking freely about scenarios and the role of electric vehicles, wind, and solar in a sustainable energy future. And it means intensifying and accelerating the reduction in greenhouse gas emissions from oil and gas as an urgent and strategic priority.
So today, I call for a purpose-built global energy transition forum. It has to allow open debate with all stakeholders and all viewpoints at the table, and it has to bridge the gap between idealism and pragmatism without compromising our climate goals.
We just need an objective and resilient transition plan to guide our collective efforts.