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Energy Investing
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Aramco chief says industry’s energy transition strategy is ‘deeply flawed’ and stresses need for fossil fuels"Nasser warns of social unrest and rampant inflation if fossil fuels are ditched too quickly." "Saudi Aramco chief executive Amin Nasser said the world needs the right execution strategy when it comes to the energy transition, with fossil fuels expected to play a key role for a much longer time. Nasser, while speaking at the 23rd World Petroleum Congress in Houston termed the existing energy transition strategy for the industry as “deeply flawed”, and said it's worrying that people believe the right strategy is under way. “Energy security, economic development and affordability imperatives are clearly not receiving enough attention,” Nasser noted. He said that unless the glaring gaps are filled in the ongoing energy transition strategy, “the chaos in the industry will only intensify". Nasser said that new and existing energy sources, including oil and gas, will both need to operate in parallel for a: |
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