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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    OPEC Secretary General: Oil is the backbone of life and calls to abandon it are unrealistic

    Rocky
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    OPEC Secretary General: Oil is the backbone of life and calls to abandon it are unrealistic Empty OPEC Secretary General: Oil is the backbone of life and calls to abandon it are unrealistic

    Post by Rocky Mon Mar 25, 2024 6:24 am

    OPEC Secretary General: Oil is the backbone of life and calls to abandon it are unrealistic

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    Secretary General of the Organization of Petroleum Exporting Countries (OPEC)



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    Economy News - follow up
    Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, said that the calls to abandon oil are “wrong and unrealistic,” stressing that oil is without exaggeration the backbone of modern life, as it constitutes about 31 percent of the global energy mix.
    In an interview with Kuwait News Agency (KUNA) on Sunday, Al-Ghais expected that oil would continue to play an important and vital role in global energy markets for years and decades to come, saying that "dispensing with it is not an easy matter."
    He pointed out the extreme importance of oil in the lives of all people, without exception, as oil and its derivatives are used in many vital daily activities carried out by people regardless of their places, nationalities, jobs, and interests, most notably transportation, travel, energy generation, industry, and others.
    He explained that the factors of the abundance of oil, the ease of extracting, refining and transporting it, and its availability at reasonable prices have crystallized the important role of oil since its discovery several decades ago, until it has become a major element on which the global economy is based and has become an integral part of our daily lives on which we depend because its supplies are guaranteed and its production continues.
    He said: "There have been many voices in recent years calling for the abandonment of oil under the pretext of preserving the environment, warning of the grave dangers that the world could suffer if oil production stops or its use is halted."
    Al-Ghais stated that responding to calls to abandon oil comes as part of OPEC's ongoing awareness efforts, which also include producing graphic materials and publications in different languages, with the aim of raising the level of awareness and understanding around the world about the importance of oil and the seriousness of these demands and calls.
    Regarding the most prominent sectors that will be affected by the disappearance of oil, Al-Ghais said that the impact will extend to include means of transportation, whether air, sea or land, emergency vehicles such as ambulances, food production, packaging and storage, in addition to medicines, hospital equipment and medical supplies.
    He added that the negative impact of the disappearance of oil will affect renewable energy sources such as the manufacture of wind turbines and solar panels because their production is linked to petroleum products and lithium-ion batteries for electric cars, in addition to the inability to produce hygiene materials such as soap and toothpaste.
    Al-Ghais stressed that the disappearance of oil will have catastrophic repercussions, such as millions losing their jobs, curbing industrial production in the world, and global economic growth. It will also exacerbate the crisis of energy poverty in many countries around the world at a time when millions lack the most basic electrical needs, such as lighting.
    He added: "Approximately 23 billion people suffer from the lack of suitable equipment and fuel for cooking, all of which are important things in people's lives that oil provides as a source of energy."
    He called for encouraging, investing in and developing the oil industry, while paying attention to environmental standards, stressing that this is OPEC's message to the world.


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