At a recent energy conference in Texas, Saudi Aramco's CEO Amin Nasser expressed skepticism about the swift transition to renewable energy, sparking a debate on the future of fossil fuels.
Max Bearak and Brad Plumer report for The New York Times.
In short:
- Amin Nasser, CEO of Saudi Aramco, argues against the feasibility of quickly phasing out oil and gas, suggesting the energy transition is failing.
- The International Energy Agency and other experts predict a peak in oil and gas demand by 2030, contrasting with the industry's investment in fossil fuel development.
- The debate highlights differing views on energy's future, with significant implications for climate change and global energy policies.
Key quote:
"We should abandon the fantasy of phasing out oil and gas."
— Amin Nasser, CEO of Saudi Aramco
Why this matters:
Advocates for phasing out fossil fuels emphasize the need to address climate change and the long-term environmental and health costs associated with fossil fuel use. They advocate for increased investment in renewable energy research and development, policies to support the transition, and the adoption of energy efficiency measures to reduce overall demand.
How utilities’ fossil fuel investments are driving up rates for the most vulnerable.
