But who'd listen to him?

Energy CEO hits energy ignorance driving current policy.

President and CEO of Saudi Aramco, Amin Nasser said historians will eventually realize that 'warning signs in global energy policies were flashing red for almost a decade'

Addressing the Schlumberger Digital Forum 2022 in Switzerland, Aramco CEO Amin Nasser said a lower energy supply is being met by increased energy demand, causing a price surge at a time when neither energy companies nor consumers are in a position to pay more.

"This week, autumn begins and the global energy crisis promises a colder, harder winter, particularly in Europe," the CEO opened his remarks, noting "the response" to the crisis has left him with "little hope of ending the crisis anytime soon."

When historians reflect on this crisis, they will see that the warning signs in global energy policies were flashing red for almost a decade," Nasser said.

"In fact, oil and gas investments crashed by more than 50% between 2014 and last year, from $700 billion to a little over $300 billion. The increases this year are too little, too late, too short-term," he added.

"Because when you shame oil and gas investors, dismantle oil- and coal-fired power plants, fail to diversify energy supplies (especially gas), oppose LNG receiving terminals, and reject nuclear power, your transition plan had better be right," Nasser argued.

"Instead, as this crisis has shown, the plan was just a chain of sandcastles that waves of reality have washed away. And billions around the world now face the energy access and cost of living consequences that are likely to be severe and prolonged."

These plans are also missing "the real causes of this state of energy insecurity," Nasser said, such as "under-investment in oil and gas; alternatives not ready; and no back-up plan."

"Meanwhile, oil inventories are low, and effective global spare capacity is now about 1.5% of global demand," he added. "And diverting attention from the real causes by questioning our industry’s morality does nothing to solve the problem."

"Meanwhile, oil inventories are low, and effective global spare capacity is now about 1.5% of global demand," he added. "And diverting attention from the real causes by questioning our industry’s morality does nothing to solve the problem."

We’re in a strange world where policymakers lap up the “wisdom” of a man like BlackRock’s Larry Fink, who’s never produced anything of value in his life, or sit spellbound at the feet of an autistic Swedish teenager as she dispenses guidance on how to run the world, but refuse to listen to the people who actually know something about the subject.

Don’t like ARAMCO, and think that its expertise in energy production is tainted? How about the head of the world’s largest automaker, Toyota, who has warned repeatedly that the world isn’t close to ready to have enough electricity to power huge volumes of cars?

Toyoda isn’t alone in this reality check. Elon Musk recently sounded a similar note. Note well that he also has no “disdain” for EVs. He’s building his empire on EVs, and his Teslas make EVs flashy and desirable. Yet he’s sounding a similar warning to Toyoda’s.