Oil and gas players seem to be forgetting the end goal of energy transition
It seems disingenuous for them to call for more financing without recognising the financial benefits they have accrued over the last few decades while polluting the environment
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“HALF-BAKED alternatives”. That is how the president and chief executive officer of the world’s biggest oil and gas company described some of the cleaner energy sources that could potentially replace conventional fossil fuels.
In his address at the recent Singapore International Energy Week (SIEW), a five-day conference focusing on how the energy sector can gradually transition to be less carbon-intensive, Saudi Aramco’s Amin Nasser pointed out that the cost of replacing fossil fuels with renewables is simply too costly – and therefore, unrealistic.
Instead, he argued, there should be continued investment in these “crucial conventional sources” for emerging markets.
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