Oil is ‘basically irreplaceable,’ OPEC leader tells Davos

DAVOS: Oil is “basically irreplaceable” and will be an essential part of the global energy mix for years to come, Haitham Al-Ghais, secretary general of OPEC, has told the World Economic Forum in Davos.

Speaking to Arab News on the sidelines of the WEF, Al-Ghais said that global leaders are beginning to understand the need for hydrocarbon fuels to power economic growth, even as they transition toward cleaner forms of energy, such as renewables.

The WEF has leaned increasingly toward an environmentalist position in recent years.