Global energy transition might take 30 years, Saudi finance minister says

While the global economy faces a "very difficult six months", Mohammed al-Jadaan said, the outlook for Gulf Arab oil producers was "very good" and would possibly remain so for the next six years.

"The thinking about energy and renewables and climate change.. now became more realistic that actually transition will take not only a year, not 10 years, possibly 30 years," Jadaan said.He was speaking at Saudi Arabia's investment forum FII, a showcase for the crown prince's drive to diversify the economy and attract foreign capital.

The Future Investment Initiative forum, which began on Tuesday, is expected to hold an auction of 1 million tonnes of carbon credits. Ahead of the event, Saudi wealth fund PIF announced the establishment of theSaudi Arabia and fellow Gulf Arab states have sought to bolster their green credentials. Riyadh last year said the kingdom aims to reach net zero emissions of greenhouse gases, mostly produced by burning fossil fuels, by 2060.

We will still using fossil fuels by 2100 😆

This terrorist ignores how fast -and far- western nations can go, if they are pushed. He forgot the great energy crisis of the '80s, and that except a few yachts and new buildings, Saudi Arabia has not much profited: no own technology, no own security, the position of a pariah...

Or longer

The “alternative” power products all use petroleum products to mine them, create them, transport them and operate them. The disposable of the “green” product at their end of use will be what destroys the planet.

the planet will not survive another 30 years of burning fossil fuels! not at the rate that we are going. we have to accept the fact that we are going to have to change the way we live and go through some energy crisis while we switch to renewables, or we are all going to die

15 years, maximum.

They just try to resist! Its so funny!

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi energy minister says countries should not misuse oil stocksSaudi Arabia's energy minister Prince Abdulaziz bin Salman said on Tuesday some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply. 😅😅🤣🤣🤣🤣🤣😆 Saudi is still a terrorist fanatic country and the families of September11 do not forget. when those are out no more job for him
Source: Reuters - 🏆 2. / 97 Read more »

Saudi Aramco’s CEO: Realignment is happening in oil market with Russian discountsAmin H. Nasser, CEO of Saudi Aramco, said on Wednesday, “realignment is happening in the oil market with Russian discounts.” Additional quotes “There
Source: FXStreetNews - 🏆 14. / 72 Read more »