CALGARY: The CEOs of top Saudi Arabian and US oil producers Aramco and ExxonMobil on Monday (Sept 18) pushed back against forecasts that oil demand wi...
Prince Abdulaziz speaks with Helima Croft of RBC Capital Markets during the World Petroleum Congress in Calgary on Monday. – ReuterspicThe CEOs of top Saudi Arabian and US oil producers Aramco and ExxonMobil on Monday pushed back against forecasts that oil demand will peak, and said the transition to cleaner energy to fight climate change would require continuing investment in conventional oil and gas.
“This notion is wilting under scrutiny because it is mostly being driven by policies, rather than the proven combination of markets, competitive economics and technology,“ Nasser said. “Now that the evidence is clearer than ever that demand for fossils will peak this decade, major oil producers will do anything to delay that transition,” said Julia Levin, associate director of national climate at Environmental Defence Canada.
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