Saudis come to Calgary warning of the consequences of ditching oil
CBC As hundreds of oil and gas executives and government representatives descend on Calgary for the World Petroleum Congress, a delegation from Saudi Arabia is warning of the consequences of ditching oil and preaching the need for a more realistic energy transition and more investment in oil and gas.
The country has the largest delegation at the conference of any country or company, led by Energy Minister Abdulaziz bin Salman Al Saud, who told the crowd of delegates that the sector can't solely focus on climate change.
"If we really want to be faithful to the idea that we will be transitioning, we have to also make sure that transitioning happens whereby you end up attending to energy security, ensuring that energy is still affordable, and does not act as an impediment to economic prosperity and growth," he saidwhile onstage.
"And if you don't do all of the above, I'm sorry, but I don't think you could attend to climate change issues."
Net zero?
The pitch by the Saudi delegation runs somewhat counter to the net-zero theme of this year's World Petroleum Congress, though it's shared by many in attendance. Alberta Premier Danielle Smith made similar comments this week, along with the head of ExxonMobil, one of the world's largest publicly traded international oil and gas companies.
