Saudi Aramco Chief Says Europe’s Plans on Energy Crisis Are Not Helpful

THE GUARDIAN: Amin Nasser says plans to cap bills and tax energy companies are not long-term solutions

Saudi Aramco’s Amin Nasser said the root cause of the energy crisis had come from underinvestment in fossil fuels. Photograph: Ahmed Yosri/Reuters
The chief executive of Saudi Aramco has said European governments’ efforts to tackle the energy crisis are “not helpful”.

Amin Nasser, who leads the world’s largest oil exporter, said plans to cap consumer bills and tax energy companies were not long-term solutions to the global crisis.

Nasser told a forum in Switzerland: “Freezing or capping energy bills might help consumers in the short term, but it does not address the real causes and is not the long-term solution.

“And taxing companies when you want them to increase production is clearly not helpful.” » | Alex Lawson, Energy correspondent | Tuesday, September 20, 2022