IEW 2024: According to India, Guyana, Qatar, and OPEC, the world needs fossil fuels and an orderly transition to energy.

India, whose need for oil is expected to surpass China's in the near future, The Organization of the Petroleum Exporting Countries (OPEC), Qatar, the nation making a major gas bet, and Guyana, the youngest oil producer in the world, all blasted doubters and emphasized that the world will still require fossil fuels even as it moves toward renewable energy.

Although these nations unanimously agreed that there should be several routes for the energy transition, they also demanded that fossil fuel investments be kept up.

Speaking during a panel discussion during India Energy Week (IEW) 2024 themed "Ensuring energy security for nations and industry in a VUCA world," Minister of Petroleum and Natural Gas Hardeep Singh Puri stated that the last two to three years had been turbulent.

However, a lot of the energy-related problems we encountered were self-inflicted. As a result, the shift to renewable energy accelerated while investments in fossil fuels decreased. It's not as though the Earth is lacking in energy. The problem is that it isn't being made accessible. VUCA stands for ambiguity, complexity, volatility, and uncertainty.