Aramco CEO: Renewable energy sources will not soon replace demand for oil and gas

Engineer Amin Nasser, CEO of Saudi Aramco, called for “resetting plans to quickly replace fossil fuels with renewable energy sources,” describing the current timetables for the energy transition as a fantasy.

According to Reuters, Nasser urged, during the CERAWeek energy conference in Houston, to recognize that renewable energy sources will not soon replace the demand for oil and gas, not even by 2030, the target date for reducing global warming.

Al-Nasser said that reducing greenhouse gas emissions from fuel through other carbon capture technologies achieves better results than alternative energy sources.