Arab Press

بالشعب و للشعب
Monday, Sep 01, 2025

Energy alternatives are not ready to shoulder the heavy burden of global demand, Aramco CEO says 

Energy alternatives are not ready to shoulder the heavy burden of global demand, Aramco CEO says 

Energy transition policies and goals have created a dangerous path for global demand, as alternatives are not in position to supply the entire world, the CEO of Aramco has warned.
During the Saudi Capital Market Forum held in Riyadh, Amin Nasser, CEO and president of Saudi Aramco, gave a speech warning capital markets of the ripple created in global energy supply due to unrealistic energy transition plans.

“Popular energy transition narratives paint a picture of a utopian world where alternatives are ready to replace oil and gas overnight. They assume the massive global energy system in many developing countries can be transformed instantly,” he said.

“Alternatives are not ready to shoulder the heavy burden of global demand. From my perspective, for a less risky global energy transition, everyone including capital markets must take a more realistic view of how the energy transition will unfold,” Nasser added.

He explained that investments in oil and gas have fallen drastically as upstream investments in 2022 were at $400 billion half of the peak in 2014. He further added that the reason was due to pressure caused by “flawed arguments and assumptions.”

“We should be concerned that continuing to impose energy transition plans will lead to unintended consequences, that include but are not limited to, compromising affordability, creating energy insecurity, and bringing back people to burn more coal and more animal waste. Something that is already happening,” he added.

Nasser stated that finding the right balance is the main challenge for global capital markets, by financing new energy sources while continuing to support conventional energy and its decarbonization.

He further added that the current imbalance is leading to a dangerous path, as emerging markets are already struggling with high energy costs.

In 2022, the world committed $1.1 trillion toward the global energy transition. However, investment in two main areas, carbon capture storage and clean hydrogen, amounted to less than one percent of the total investment, he explained.

“Capital markets have an obvious opportunity to concurrently address the trilemma of energy affordability, energy security, and sustainability by restoring investment in vital conventional energy sources, increasing investment in technology that reduces the carbon footprint of oil and gas, and investing in new energy sources including renewables and green and blue hydrogen,” he concluded.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
×