Fossil fuel leaders have welcomed a paradigm shift in the narrative regarding the energy transition.
Speaking to CNBC on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), OPEC Secretary-General Haitham Al Ghais said there has been a “big shift” in the way industry leaders and policymakers are now talking about meeting rising global energy demand.
“Three years ago, it was all about energy transition. Energy transition, climate change [and] get rid of fossil fuels. Today, it’s about [how] we have to have a balanced approach,” Al Ghais told CNBC’s Dan Murphy in an exclusive interview.
“So, it’s a very different tone, which … I must say, sounds like music to my ears because this is what OPEC’s been advocating for the last two, three, four years actually,” Al Ghais said Tuesday.
His comments were echoed by several industry players at the UAE’s annual oil summit, with many championing the concept of “energy addition” to secure supply and accommodate new demands from sectors like artificial intelligence.
