Oman warns that crude oil prices could rise to $ 200 a barrel

Oman’s energy minister said it was “very easy” to sit in your comfort zone and talk about efficiency and solar and renewable energy. Photo AFP
  • Oman’s energy minister says “one-sided advice” is not important.
  • The IAA has called for a halt to new investments in oil, gas and coal to control global warming.
  • The head of the EPRDF urged the countries of the Middle East and North Africa to develop renewable energy in May.

PARIS – Oil producer Oman has criticized the need to halt new fossil fuel projects to combat climate change.

In May, the II called for a halt to new oil, gas, and coal mining investments to increase the risk of global warming.

But Oman’s energy minister, Mohammed al-Rumi, said such “one-sided recommendations” were not necessary.

“Encouraging us not to invest in new fuels … I think that’s very dangerous,” he said at a conference on energy transfer in the Middle East and North Africa.

Al-Rumhi said: “If we suddenly stop investing in the fossil fuels industry, we will see” energy “and energy prices” higher “and in a short period of time we can see 100 or 200 barrels.

Crude oil prices have recently fluctuated by $ 70 per barrel.

“It’s very easy to sit in your comfort zone and talk about efficiency and the sun and renewables … and then we forget that one-third of the world’s population is suffering from energy shortages,” al-Rumi said.

The criticism appears to be aimed at the Middle East and North Africa region, which has called on AEPR leader Fatih Bureau to increase renewable energy.

“Bitter truth” is being faced by Middle Eastern energy producers, he said. By 2050, it is determined to reach 70% of the world’s net zero carbon emissions.

“This will have implications for oil demand and therefore for investment,” he said.

Leave a Comment