Aramco CEO show his opinion on energy replacement

Aramco CEO show his opinion on energy replacement. The boss of the world’s biggest oil producer has called time on the energy transition, saying it’s time for policymakers to focus on affordability and lowering emissions instead of phasing out oil and gas entirely. Speaking in Houston at the CERAWeek conference, Aramco’s CEO Amin H. Nasser said consumers need immediate access to affordable energy without disrupting their daily routines. But according to Nasser—who took on the top job at the oil giant in 2015—these demands are at odds with the current priorities of governments attempting to turn their nations towards greener alternatives. The current transition strategy is visibly failing on most fronts,” Nasser said. “The first is that, despite the world investing more than $9.5 trillion on energy transition over the past two decades, alternatives have been unable to displace hydrocarbons at scale. “Today, wind and solar combined, supply under 4% of world energy. Meanwhile, the total penetration of EVs is less than 3%. Three to 4% is not nothing, and we welcome the progress in both renewables and EVs. But 3% to 4% is not everything either.”