Aramco CEO-End To War In Ukraine Would Not Solve Energy Crisis

Comments from Aramco CEO Amin H Nasser hitting wires. Lambasts nation state gov'ts for perceived 'misunderstanding' of global energy markets. Goes on to criticise windfall taxes and caps on household energy bills.

• Nasser: Increases in oil and gas investments this year are 'too little, too late, too short-term'.
• Nasser: Response to global energy crisis so far shows deep misunderstanding of how we got there.
• Nasser: Even if the conflict in Ukraine ended today, the energy crisis would not end.
• Nasser: The real causes of energy insecurity are underinvestment in O&G, no ready alternatives, and no back-up plan.
• Nasser: Capping energy bills might help consumers in the short-term, but is not a long-term solution.
• Nasser: Even with strong economic headwinds, global oil demand is still fairly healthy today.
• Nasser: Taxing companies when you want them to increase production is not helpful.
• Nasser: When the global economy recovers we can expect demand to rebound further, eliminating the little spare oil production capacity out there.