Saudi Aramco CEO says energy transition is failing and the world should stop using oil

Saudi Aramco CEO says energy transition is failing, world should abandon 'fantasy' of phasing out oil. Alternative energy sources have been unable to displace hydrocarbons at scale, CEO says. World investing more than $9.5 trillion in alternative energy, he says.

Saudi Aramco CEO says energy transition is failing, world should abandon 'fantasy' of phasing out oil. Alternative energy sources have been unable to displace hydrocarbons at scale, CEO says. World investing more than $9.5 trillion in alternative energy, he says.

Is Saudi Aramco cooling on crude oil? Don't bet on it? Don’t bet on that. Saudi Arabia's biggest oil exporter in the world is expected to be a major oil producer in the Middle East. The world's largest oil company, Saudi Arabia, has a history of over-capacity in oil.