Aramco President and CEO Amin Nasser has called for a fundamental shift in global energy transition planning, advocating for a more balanced approach that allows both traditional and renewable energy sources to grow while maintaining a focus on climate goals, reported SPA.

Speaking at the CERAWeek 2025 conference in Houston, Texas, Nasser pointed out that the current strategy—prioritizing renewable and alternative energy while imposing restrictive regulations on traditional energy—has proven ineffective.

He argued that if this approach continues, the world will need to invest an additional $6 to $8 trillion annually. 

He cautioned that the current path could lead to a bleak future without change.

"The biggest illusion about the energy transition is the belief that traditional energy can be phased out overnight," Nasser said. "Traditional sources still supply over 80% of the energy in the US, about 90% in China, and more than 70% in the EU. New energy sources do not replace traditional ones; they complement them. New energy sources cannot even meet the growth in demand. Effective traditional energy sources are being discarded in irrational ways. This is a fast track to dystopia—a future marked by crisis and hardship."

CERAWeek, an annual gathering of energy leaders, government officials, and industry executives, serves as a platform for discussions on energy security, supply, climate policy, technology, and sustainability.

This year's conference, "Moving Ahead: Energy Strategies for a Complex World," has attracted over 10,000 participants from over 2,050 companies and 80 countries, with more than 1,400 expert speakers.