Photo: bloomberg.com
Head of Saudi Aramco Amin Hassan an-Nasser
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Energy insecurity, rampant inflation and social unrest await countries in the event of a rapid phase-out of oil and gas.
Rising inflation, social unrest, chaos threaten the world due to the rapid rejection of oil and gas and a lack of investment in these areas. This was stated by the head of the oil company Saudi Aramco Amin Hassan al-Nasser, speaking at the World Petroleum Congress in Houston, writes Financial Times.
He called “deeply mistaken” the notion that humanity can switch to cleaner fuels “almost overnight.”
“I understand that publicly recognizing that oil and gas will play an important and significant role in and beyond the transition period will be difficult for some. But accepting this reality will be much easier than dealing with energy insecurity, runaway inflation and social riots, “- said the head of the world’s largest oil producer.
He pointed out that fuel prices are becoming “unacceptably high” and the global coalition to reduce emissions has begun to disintegrate. This, in turn, will entail a slowdown in the energy transition.
Gas station networks with the worst fuel quality named – media
Earlier it was reported that a number of car manufacturers stop producing gasoline cars… Many global automakers have decided not to abandon gasoline cars because of the high cost of modernization of production.
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