Oil Industry Execs Claim , Rapid Transition to Clean Energy , Has Dire Consequences.<br />'The Guardian' reports that oil industry leaders <br />have blamed the rapid transition <br />to clean energy for recent market volatility. .<br />At an industry gathering in Houston, <br />the world's largest oil companies claimed <br />a poorly-managed transition could lead to , “insecurity, rampant inflation and social unrest.”.<br />Saudi Aramco, the largest global oil producer, <br />ExxonMobil and Chevron all reportedly called <br />the current shift toward clean energy , "deeply flawed.".<br />Amin Nasser, Saudi Aramco's CEO, told the World <br />Petroleum Congress in Houston, Texas, that a rapid <br />shift to cleaner fuels could lead to uncontrolled inflation. .<br />I understand that publicly <br />admitting that oil and gas <br />will play an essential and <br />significant role during the <br />transition and beyond <br />will be hard for some. , Amin Nasser, Saudi Aramco's CEO, via 'The Guardian'.<br />But admitting this reality will <br />be far easier than dealing with <br />energy insecurity, rampant inflation <br />and social unrest as the prices <br />become intolerably high, and seeing <br />net-zero commitments by <br />countries start to unravel, Amin Nasser, Saudi Aramco's CEO, via 'The Guardian'.<br />The world is facing an ever more <br />chaotic energy transition centered <br />on highly unrealistic scenarios <br />and assumptions about <br />the future of energy, Amin Nasser, Saudi Aramco's CEO, via 'The Guardian'.<br />'The Guardian' reports that Saudi Aramco <br />has the highest carbon dioxide emissions <br />of any company, producing almost 60 million tons <br />of CO2 emissions between the 1960s and 2017. .<br />Chevron reportedly comes in second <br />with over 43 million tons of CO2 <br />produced over the same period. .<br />Chevron CEO Mike Wirth told the industry conference that oil continues , "to play a central role in meeting the world’s energy needs, <br />and we play an essential role in delivering them in <br />a lower carbon way. Our products make the world run.”.<br />Chevron CEO Mike Wirth told the industry conference that oil continues , "to play a central role in meeting the world’s energy needs, <br />and we play an essential role in delivering them in <br />a lower carbon way. Our products make the world run.”