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Climate warning

Aramco Oil CEO: ”We should abandon the fantasy of phasing out oil and gas”

The CEO and President of Saudi Aramco Oil, Amin Nasser, says the world should abandon the ”fantasy” of phasing out fossil fuels.

And this is not the only bizarre claim Mr. Nasser has made during the annual fossil fuel lobby conference CERAWeek in Houston, Texas. He also said that the world should stop investing in wind and solar.

"We should phase in new energy sources and technologies when they are genuinely ready, economically competitive and with the right infrastructure," Nasser said.

Well, the person living in a fantasy is actually Mr Nasser himself. Just look at his company´s own numbers. Aramco Oil’s profits fell 24.7% last year due to lower oil prices and volumes.

And just a few months ago, the Saudi energy ministry instructed the Saudi majority-owned Aramco to stop plans to increase its maximum crude production capacity from 12 million barrels per day to 13 million barrels per day by 2027. Why? Because lack of demand.

This is at the same time as there is a record build out of renewable energy globally.
I’m pretty sure Amin Nasser is also aware that renewable energy sources are cheaper than fossil fuels in most parts of the world already today, and that these clean energy sources would be even more competitive if the world’s governments stopped subsidizing fossil fuels with $7 trillion per year.

Amin Nasser, CEO and President of Saudi Aramco Oil.
Amin Nasser, CEO and President of Saudi Aramco Oil.

For more bizarre quotes and Big Oil storytelling, read this story:



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  • johnte ndeto

    3 w

    Transitioning away from fossil fuels is crucial for combating climate change, and renewable energy sources like wind and solar play a vital role in this transition.

    2
    • mary Mwihaki

      3 w

      We can't give up on this green and clean energy is what we want

      5
      • johnte ndeto

        3 w

        @mary_dosarah clean and renewable energy all the way

        1
      • Patrick Kiash

        3 w

        I detest his thought, they sound more like mockery. He seems like he doesn't see beyond the reality of fog, unfortunately though.

        1
        • Sarah Chabane

          3 w

          New oil villain unlocked! 🦹‍♂️

          5
          • dickson mutai

            3 w

            He overlooks both economic trends and environmental imperatives. Their declining profits and the halt in production capacity expansion highlight the shifting dynamics in the energy sector, driven by factors such as lower demand and the rise of renewables

            4
            • Munene Mugambi

              3 w

              Maybe they should be the one's telling this to themselves and their fellow executives. It is time for them to abandon the fantasy of fossil fuels being an important cog in our new world, the time for fossil fuels was during the industrial revolution and that period is over, it is time they get out of their cocoon and realise we have a new harsh reality on our hands.

              4
              • Joseph Githinji

                3 w

                This sounds absurd, reliance to fossil fuels must be a thing of the past. Anyone who thinks otherwise shouldn't be given the world's attention, it is time for renewable energy.

                6
                • Munene Mugambi

                  3 w

                  @joseph_githinji The bad thing is, such people already have a platform and many people do indeed take their words as gospel. Their minions are everywhere hanging onto every word such people say and it really endangers the needs to phase out fuel when you have such strong opposition.

                  4
                  • johnte ndeto

                    3 w

                    @joseph_githinji why can't this companies transit into clean energy and still make their margins

                    1
                  • Rukia Ahmed Abdi

                    3 w

                    With all the realities of climate change,it's unthinkable for anyone to claim that facing out fossil fuels is a fantasy. Come on @Amin Nasser

                    6
                    • Andy Middleton

                      3 w

                      Thank you for bringing this idiot to our attention. Obviously people like this are literally insane but unfortunately they are in powerful positions. We need to try to change that as soon as possible

                      6
                      • johnte ndeto

                        3 w

                        @andy_middleton indeed they're idiots very insensitive to climate change

                        1
                      • George Kariuki

                        3 w

                        Amin Nasser is out of touch with reality! Oil demand is dropping, renewables are getting cheaper, and yet he wants us to keep relying on fossil fuels?

                        5
                        • Elizabeth Gathigia

                          4 w

                          This is absurd, no! We can not give up in this fight, Phasing out fossil fuel must go on!!

                          12
                          • walter lungayi

                            4 w

                            The CEO's stance is heartbreaking as it undermines efforts towards sustainable energy transition. Embracing renewable alternatives is important in combating climate change and ensuring a greener future for generations to come.

                            11
                            • Elizabeth Gathigia

                              4 w

                              @walter_lungayi Fossil fuel must be phased out completely, green and clean energy is the future we all want

                              9
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