Aramco CEO says reaching net-zero may cost $200 trillion

The transition to renewables is incredibly expensive and reaching net zero could cost up to $200 trillion, according to Saudi Aramco President & CEO Amin H. Nasser.
'Reality has revealed a transition plan that's been oversold and under-delivered for large parts of the world, especially Asia,' he said in a video address to Energy Asia 2025 in Kuala Lumpur.
'We were told it would be rapid, painless, and inevitably mean the collapse of conventional energy. Yet oil demand still exceeds 100 million barrels per day, with no sign of collapsing. Why?' he said.
Public doubts are growing as fairytale fantasies meet reality on the ground, Nasser said, adding renewables, while important and growing, are far from ready to shoulder the burden intended and the risk that exists.
(Editing by Anoop Menon) (anoop.menon@lseg.com)

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