Saudi Gazette report

HOUSTON — Saudi Aramco President and CEO Amin Nasser has called for a shift in global energy transition planning, advocating for a balanced energy model that allows both traditional and renewable energy sources to grow while achieving climate goals.

Speaking at the CERAWeek 2025 conference in Houston, Texas, Nasser criticized the current energy transition approach, describing it as a failure due to its excessive focus on renewables and unfair treatment of traditional energy.

He warned that if the world continues on this trajectory, it will require an additional $6 to $8 trillion in annual investment, creating what he called a fast track to a dark future.

Nasser said the biggest illusion about the transition is that it is possible to dispense with traditional energy, pointing out that fossil fuels still account for over 80 percent of energy in the United States, nearly 90 percent in China, and more than 70 percent in the European Union.

He emphasized that new energy sources do not replace traditional ones but rather complement them.

He argued that renewables alone cannot meet the rising global energy demand, while traditional sources, which have proven their reliability over the years, are being unfairly sidelined.

He described this as a fast track to dystopia, a bleak future full of suffering.

Nasser outlined the need for a new global energy model based on three key principles. The first is the need for all energy sources, both traditional and alternative, to work together to meet growing energy demand in a balanced and integrated manner. He urged policymakers to ease regulatory restrictions and create incentives for unbiased financing of traditional energy investments to ensure stability in global energy markets.

The second principle emphasizes the importance of making energy transition policies inclusive of both developed and developing countries.

He stressed that developing nations should not be left behind in technological advancements and should have access to the resources needed for sustainable energy development.

The third principle focuses on delivering real climate results by continuing to reduce greenhouse gas emissions through advanced energy efficiency technologies and sustainable innovations.

He highlighted artificial intelligence as a key enabler in optimizing energy efficiency and reducing emissions.

He said it is crucial to remain committed to global climate ambitions while ensuring energy security and affordability for all.

Nasser reaffirmed that energy security and affordable energy access must be prioritized alongside sustainability goals.

He stressed that all energy sources should work collectively to ensure a reliable and practical transition toward a more sustainable energy future.

CERAWeek 2025, an annual gathering of global energy leaders, government officials, and experts, features more than 1,400 speakers discussing challenges related to energy security, climate policies, technology, and sustainability. This year’s theme is Moving Forward: Energy Strategies for a Complex World.