Energy

Saudi Aramco CEO warns of unrest if fossil fuel investment cut too fast

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Amin Nasser, the chief executive of Saudi Aramco, the world’s biggest oil producer, urged global leaders on Monday to continue investing in planet-warming fossil fuels in the years ahead, arguing that the assumption the world could transition to clean energy “overnight” was “deeply flawed.”

Nasser, during remarks at the World Petroleum Congress in Houston, Texas, claimed that transitioning to cleaner fuels too rapidly could prompt uncontrolled inflation and social unrest, and ultimately upend nations’ emissions targets to curb carbon pollution.

“I understand that publicly admitting that oil and gas will play an essential and significant role during the transition and beyond will be hard…



Source cnbc.com

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