Sultan Al-Jaber, CEO of Abu Dhabi National Oil Company, who will lead international climate talks later this year, told power players in the energy industry on Monday that the world must cut emissions by 7% every year and reduce methane must eliminate all U.S. emissions, strong comments for an oil executive.
But speaking at SeraWeek in Houston, Al-Jaber did not directly address emissions from transportation. Destination of most crude oil. In many countries, including the United States, emissions from transportation are the largest contributors to climate change.
Al-Jaber separates electricity, cement. Steel and aluminum as cleaning targets, but not trucks, cars, trains and aircraft. He called for far more investment to accelerate the transition to clean industries.
“According to the IEA, in 2022, the world will invest $1.4 trillion in the energy transition,” he said. “We need more than three times that amount.”
Every year, nations gather at the COP to discuss how the Paris Agreement goals of limiting global warming to just 2.7 degrees Fahrenheit by 2050 can be achieved through international cooperation.
Click here to get the Fox News app
The 28th International Conference of the Parties or COP28 will be held in Dubai from 30 November to 12 December. As president, al-Jaber will influence how much pressure is exerted on those most responsible for climate change, coal and oil. and gas companies and countries that produce the fuel.
Al-Jaber is the UAE’s Minister of Industry and Advanced Technology, who also serves as the chairman of renewable energy company Masdar.
CeraVic attracts high-level oil and gas executives each year and is hosted by S&P Global.
This year COP28 will be held in the United Arab Emirates, which has drawn criticism given the country’s high level of crude production. Abu Dhabi National Oil Company pumps around 4 million barrels of crude oil a day and plans to expand to 5 million barrels per day.
Associated Press climate and environment coverage is supported by a number of private foundations. See more about AP’s climate initiative. AP is solely responsible for all content.
We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.