Things Are Changing
Saudi energy minister pins Aramco’s oil capacity halt on green transition
“Energy security in the 70s, and 80s and 90s was more dependent on oil. Now, you get what happened last year … It was gas. The future problem on energy security, it will not be oil. It will be renewables. And the materials, and the mines,” he stressed, noting that there is still a “huge cushion” of spare capacity available in the event of an emergency shortage. Previously, such supply shocks have struck by way of sanctions or attacks against oil infrastructure worldwide.