OPEC Boss Says Oil to Remain 'Dominant Energy'


OPEC Secretary General Abdalla El-Badri
(Click to Enlarge)

Fears about the imminent replacement of petroleum with bio-fuels and other alternatives as the main sources of energy in the world have been dismissed by the Secretary General of Organization of Petroleum Exporting Countries (OPEC), Abdalla S. El-Badri.

Speaking at a one-day media workshop in Abuja, tagged "Reporting OPEC", facilitated by the Nigerian National Petroleum Corporation, NNPC in conjunction with OPEC for energy journalists in Nigeria, El-Badri opined that the global debate about seeking alternatives to oil will not yield results because of the strategic importance of oil.

The OPEC Scribe, who has more than 45 years experience in international oil and gas business, argued that the talk about alternative or independent sources of energy is nothing new.

"But I want to tell you that oil will remain the dominant energy for the foreseeable future. I have been hearing this from the United States presidents in the last 30 years; at least I am old enough to track this. There is nothing called independent energy.

"There is no way America will not rely on oil from the Middle East or any other exported oil," El-Badri explained while responding to a question on President Obama's policy of cutting down on America's dependence on imported oil.

The ten-man OPEC team was in Nigeria for a three-day country visit as part of its statutory responsibility to member countries.

BBC Monitoring. Copyright BBC.
 

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Nick Bringola (Dom) | Oct. 25, 2009
What Mr. El-Badri has stated is a half truth at this time. I can see nothing in the near future that can replace the oil demand for the US or around the world. However, that said, let him not forget that there is a an undetermined race to discover alternative fuels for various equipment and processes. Forget Nations Presidents or Dictators. It will be American and Other Collaborative Engineering as well as Individual Ingenuity that are capable of overturning and re-discovering the replacement fuel. I am positive this feat can and will be accomplished. Enjoy the spotlight and the wealth for now.

Boone | Oct. 21, 2009
"Oil will only be a dominant energy for a certain time. I believe the world is changing and this is again in a matter of time; possibly in 20 years from now oil will not be the main source for energy. There are signs of changes coming ahead such as wind energy, oil shale deposits and gas sources."

You do realize don't you that two out of the three energy sources you stated are petroleum? You could put windmills on every corner in the US and in 20 years petroleum products will still be a majority source for energy. Nuclear would be a major help on electrical production but the same greenies that think all this green energy is going to free us oppose nuclear.

Ernie | Oct. 20, 2009
So much talk but still no work in North America. We need to start to really get going soon. Wall Street started this mess and should get other jobs going, while we sit and read how much money they have made back from bailouts.

Dinesh | Oct. 20, 2009
At present "oil" is the dominant energy and this fact is known to the world; therefore, the world is looking forward to cease this dominance by developing alternative sources of energy, which can minimize use of oil as a primary source.

Let's not forget that science and technology have advanced oil as a primary source of energy, and now the world technology is advancing too far to replace this primary source of energy and calling to end the "oilage" by the turn of this century.

The renewable source and other energy producing mineral resources are going to dominate the source of fuel such as lithium, thorium and uranium etc. It's better late than never; the oil producing countries should support developing alternative energy sources for sustainability.

garkasi | Oct. 20, 2009
Oil will only be a dominant energy for a certain time. I believe the world is changing and this is again in a matter of time; possibly in 20 years from now oil will not be the main source for energy. There are signs of changes coming ahead such as wind energy, oil shale deposits and gas sources.

OPEC countries do not like to talk about these changes, but they are coming for sure.


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