- Saudi Aramco blames the global energy crisis on a lack of investment in fossil fuels, and warned that oil production capacity might be wiped out once economies rebound.
- Amin Nasser, the head of Saudi state oil giant Aramco, explained that Europe's plans to cap energy bills for consumers and tax energy companies were not long-term or helpful solutions for the global energy crisis, spurred mainly by underinvestment in hydrocarbons.
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Aramco has been investing to raise the Kingdom’s oil capacity to 13 million barrels a day by 2027, but Nasser said globally investments in hydrocarbons were still “too little, too late, too short term”. He added that continued underinvestment in hydrocarbons at a time when alternatives to fossil fuels were still not readily available was the root cause of the problem.