Oil, Gas Investments Must Rise to $523 Billion a Year, Says IEF
- Riyadh-based think tank echoes Saudi Aramco’s call this week
- Lack of investment will cause economic unrest, says the IEF
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The Riyadh-based International Energy Forum has called on companies to raise investment in oil and natural-gas production to $523 billion a year by the end of this decade to prevent a surge in energy prices and economic unrest.
The think tank’s comments echo those of Saudi Aramco, whose chief executive officer on Monday said there could be “chaos” unless governments stopped discouraging investment in fossil fuels.