Saudi Aramco CEO Advocates for Balanced Energy Transition, Citing Over-Reliance on Renewables as a Path to Dystopia

At CERAWeek 2025 in Houston, Texas, Saudi Aramco CEO Amin Nasser called for a balanced energy transition, criticizing the current approach for overemphasizing renewables and unfairly restricting traditional energy. He warned that continuing this path would require an additional $6-8 trillion in annual investment, leading to a "dystopian" future. Nasser noted that fossil fuels still account for over 80% of energy in the U.S., nearly 90% in China, and over 70% in the EU. He argued that renewables complement, rather than replace, traditional sources, and cannot meet rising global energy demand alone. Nasser proposed a new model emphasizing collaboration between all energy sources, inclusive policies for developed and developing nations, and reducing emissions through advanced technologies like AI, while prioritizing energy security and affordability.