Aramco will compete with EVs and Hybrid cars: Saudi Energy Minister
Saudi Energy Minister Al-Falih discusses OPEC oil production with Bloomberg’s Annmarie Hordern at the COP23 climate change talks in Bonn.
“Without oil, the world wouldn’t enjoy the lifestyle people have today and life wouldn’t be nearly as developed,” said Al-Falih.
“It is cost-effective and saudi continues to invest heavily in it, and we all have a collective responsibility towards climate change, but let’s not forget that if it wasn’t for oil, people would still be using coal, and bio waste for fuel, which is a lot more damaging to the environment,” Al-Falih added.
He said Saudi Aramco is aiming to reduce emissions using better technology to have a more efficient fuel system, and we want to compete alongside electric vehicles and Hybrid cars so that we are able to accommodate 9 billion people in a couple of decades who would need transport.
“We want to be part of the solution,” he said