Saudi Aramco President and CEO Khalid Al-Falih told the World Energy Congress in Montreal that the growth of renewable energy sources would be "slow and uneven" and that traditional fossil fuels would remain the predominant energy source for the next 40 years, the Montreal Gazette reported. Al-Falih was quoted as saying: "The world will continue to rely on traditional fossil fuels for most of its energy needs for the coming decades. These energy sources - namely coal, oil and natural gas - are expected to account for about four out of every five units of energy that mankind will consume for the foreseeable future." Al Falih said Saudi Arabia has oil reserves enough to last for 80 years of sustained production and that the country planned to increase its current reserves of 260 billion barrels by 40 percent, Arab News reported.
Xinhua News Agency quoted Royal Dutch Shell CEO Peter Voser as saying: "Worldwide, there's now enough technically recoverable gas in the ground for 250 years ... at current production rates." Voser said Royal Dutch Shell has taken measures to protect groundwater during hydraulic fracturing to recover gas from shale. He said: "But let's also remember that energy is the lifeblood of civilization. Whether we like it or not, producing energy ... and delivering it to billions of customers around the world comes with certain risks."
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