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Saudi Aramco CEO says energy transition is failing, world should abandon 'fantasy' of phasing out oilWe spent trillions of dollars and we have nothing to show for it:
By Spencer Kimball, CNBC
HOUSTON โ Saudi Aramco CEO Amin Nasser said Monday that the energy transition is failing and policymakers should abandon the "fantasy" of phasing out oil and gas, as demand for fossil fuels is expected to continue to grow in the coming years.
"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.
Nasser said alternative energy sources have been unable to displace hydrocarbons at scale, despite the world investing more than $9.5 trillion over the past two decades. Wind and solar currently supply less than 4% of the world's energy...This is the graph he was surely thinking of โ the one that shows how irrelevant, inconsequential and trivial the whole "renewable energy transition" has been so far. See that black line...?
Meanwhile, the share of hydrocarbons in the global energy mix has barely fallen in the 21st century from 83% to 80%, Nasser said.
"Your account is permanently in read-only mode, which means you can't post, repost, or like content. You won't be able to create new accounts."
Comment: All these years of struggle for women's rights are being flushed down the toilet in less than a decade. Any government institution that is prioritizing trans rights over women's safety is misogynist to the core.
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