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OPEC Sees Oil and Electrification as an Inseparable Duo for the Future of Global Energy Supply
In the current debate about the future energy supply, electrification is often portrayed as the big opponent of oil. The increasing pressure to reduce CO2 emissions and make the energy supply more sustainable has led many to view the use of oil as obsolete. But Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), disagrees with this simplistic view and emphasizes the indispensable role that oil and its derivatives play in the global energy landscape.
A general view of the Vienna headquarters of the Organization of the Petroleum Exporting Countries (OPEC). / Picture: © Wikimedia Commons / DALIBRI / CC BY-SA (https://creativecommons.org/licenses/by-sa/3.0)
In a recent statement published on the OPEC website, Al Ghais addresses the widespread myths that characterize the relationship between electrification and oil. It is wrong to believe that these two forms of energy are in a zero-sum game, where the gain of one means the loss of the other. Instead, they should be seen as complementary parts of a diverse energy mix that is necessary to…
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