OPEC Secretary-General Haitham Al-Ghais stressed "the need to achieve a fair and sustainable energy transition to ensure that no person, country or industry is left behind." Explaining that "the oil industry alone will account for 29 percent of global energy needs by 2045, while the total global investment requirements amount to $ 12.1 trillion between now and by that period, i.e. more than $ 500 billion annually."
Not enough investment is being made in all forms of energy, putting the sustainability of the global energy system at stake. "We need a long-term investment-friendly climate that serves both the producer and the consumer, helping to correct the chronic underinvestment," he said."
Source: (CNBC Arabic Website, Edited)
