The CEO of Saudi Aramco, Amin Hassan Al-Nasser, emphasized the need to overhaul the current energy transition planning and implement a new global energy model that allows for a balanced space for both traditional and renewable energy sources to grow while focusing on achieving climate goals.
Speaking at the CERAWeek 2025 conference in Houston, Texas, USA, Al-Nasser pointed out that continuing with the current failed plan that solely focuses on renewable and alternative energy growth and unfairly legislatively overlooks traditional energy will require the world to invest an additional $6 to $8 trillion annually. He warned that maintaining the current plan without changes would lead to a dark future.
Regarding the current transition planning, Al-Nasser stated that the biggest misconception is that traditional energy can be quickly phased out, as it still provides over 80% of energy in the US, around 90% in China, and over 70% in the EU. He emphasized that new sources of energy should complement rather than replace traditional sources and that traditional sources have proven their worth over the years and should not be disparaged irrationally.
Regarding the need for a new global energy model, Al-Nasser stressed the importance of three pillars: all sources must play an accelerating role in meeting growing energy demand, the model must serve both advanced and developing nations equally, especially in terms of technology, and there should be a focus on delivering tangible real-world results.
Concerning the importance of reducing emissions, Al-Nasser highlighted the need to prioritize reducing greenhouse gas emissions as a top priority, promote energy efficiency technologies, continue reducing emissions from traditional energy sources, and leverage artificial intelligence for a transformative impact. He emphasized that the future of energy should not only focus on sustainability but also on energy security and affordability for consumers, with energy sources working collectively to achieve practical results.
The CERAWeek conference gathers energy sector leaders, government officials, policy-makers, and CEOs from around the world to exchange views, ideas, and innovative solutions for challenges such as energy security, supplies, climate, technology, and sustainability. With over 10,000 participants from 2050 companies and 80 countries, along with more than 1400 expert speakers, this year’s event focuses on “Moving Forward: Energy Strategies for a Complex World.”
