OPEC leaders rejected the IEA's plan to achieve clean green energy by 2050. According to the coalition, halting investments in the oil and gas industry will ultimately harm the global economy.
But if the world follows the agenda of the IEA, which includes termination of investments in new oil fields to achieve zero carbon emissions by 2050, oil prices will skyrocket to $ 200.
"The transition to clean energy is dangerous," said Saad Sherida al-Kaabi, the current Minister of Energy of Qatar. Saad Sherida Al-Kaabi. "If you deprive the industry of new investments, you will get a global jump in prices," he added.
It is unsurprising that large oil producers disagree on possible restrictions in the oil industry. Prince Abdulaziz bin Salman, Saudi Arabia's energy minister, even said that such a move will not help get rid of climate change. And when asked about the Kingdom's plan on oil production, he said that an increase may be observed in the coming months.
As for Qatar, local reports say it wants to move forward with a $ 29 billion liquefied natural gas expansion. And by the end of this year, it will finalize its decision on whether it will open partnership with international companies.
