Speaking during the opening of the Egypt Petroleum Show Exhibition and Conference (EGYPS) 2023 on Sunday, the Secretary General of OPEC, Haitham Al Ghais, cautioned climate change enthusiasts to look at the big picture.
“It is imperative that all parties involved in the ongoing climate negotiations pause for a moment; look at the big picture,” Al-Ghais, stated, adding all parties should “work towards an energy transition that is orderly, inclusive and helps ensure energy security for all.”
The OPEC chief went on to say that the oil industry had been “plagued by several years of chronic underinvestment.” According to him, the industry needs $500 billion of investment annually until 2045, to get back on track.