Letter from Saudi Arabia: Don’t mistake Saudi energy policy

The country is not betting against long-term oil demand growth, it is planning for a hydrocarbons-led energy demand boom

It is a truth universally acknowledged that an oil company in possession of a good fortune must be in want of an energy transition strategy. But within that is a lie that is in danger of becoming equally commonplace: that this very strategy means replacing hydrocarbons with renewables.  Saudi Arabia, and its NOC Aramco, stands ready to write a new energy narrative. Aramco CEO Amin Nasser defended the oil industry with pride in Houston earlier in March and countered the prejudices from policymakers over the energy transition. He said at the CERAWeek conference that the current transition strategy overlooks affordability and reliability in supply, paints the industry as the “archenemy” and loo