Saudi Aramco President & CEO Amin Nasser speaks during the CERAWeek oil summit in Houston, Texas.Mark Felix/Getty

This story was originally published by the Guardian and is reproduced here as part of the Climate Desk collaboration.

The bosses of the world’s leading oil and gas companies have poured scorn on efforts to move away from fossil fuels, complaining that a “visibly failing” transition to clean energy was being pushed forward at an “unrealistic pace.”

The oil executives, gathered at the industry’s annual Cera Week conference in Houston, Texas, have taken turns this week to denounce calls for a rapid phase-out of fossil fuels, despite widespread acknowledgment within the industry, as well as scientists and governments, of the need to radically reduce planet-heating emissions to avoid the worst effects of the climate crisis.

“We should abandon the fantasy of phasing out oil and gas, and instead invest in them adequately,” said Amin Nasser, chief executive of Saudi Aramco, the world’s largest oil company, to applause in the room.

Nasser dismissed projections by the International Energy Agency (IEA) that global demand for oil and gas will peak by 2030, claiming that rising energy costs mean that people will require “the importance of oil and gas security” rather than shift to renewables.

“In fact, in the real world, the current transition strategy........

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