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OPEC’s top official urged countries to invest much more in oil to meet the world’s future energy needs and said climate policies need to be more “balanced and fair.”
“It is imperative that all parties involved in the ongoing climate negotiations pause for a moment; look at the big picture,” Haitham Al-Ghais, secretary-general of the Organization of Petroleum Exporting Countries, said Sunday at an energy conference in Cairo. They must “work towards an energy transition that is orderly, inclusive and helps ensure energy security for all.”
His comments came amid a shift among some Western governments and companies regarding fossil fuels. Prices for oil, natural gas and coal surged after Russia’s invasion of Ukraine last February, pushing energy security to the top of the agenda for many leaders.
