Amin Nasser, chief executive officer of Saudi Aramco, speaks at the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Monday, March 18, 2024.
HOUSTON — Saudi Aramco CEO Amin Nasser said Monday that the energy transition is failing and policymakers should give up 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 energy conference in Houston, Texas.
The Paris-based International Energy Agency forecast last year that peak oil, gas and coal demand would come in 2030.
Nasser suggested that the IEA is focusing on demand in the U.S. and Europe and needs to focus on the developing world as well.
Persons:
Amin Nasser, Nasser
Organizations:
P Global, International Energy Agency
Locations:
Saudi Aramco, Houston , Texas, HOUSTON, Paris, U.S, Europe