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Alerts Saudi Energy Minister Abdulaziz bin Salman Al-Saud speaks at a conference in Riyadh on January 27, 2021. Photo: Fayez Nuraldine/AFP (Getty Images) Oil-producing heavyweights like Russia and Saudi Arabia will not go quietly into the night. This week, ministers from those and other countries slammed the latest report from the International Energy Agencycalling for all new oil and gas development to stop by next year, using some pretty heated (and funny) rhetoric. Advertisement The “euphoria” around the transition to clean energy is “dangerous,” Qatar’s Energy Minister Saad Sherida Al Kaabi said during remarks at the St. Petersburg International Economic Forum in Russia on Thursday. Others, like Russian Deputy Prime Minister Alexander Novak, painted a doomsday scenario of unstable oil markets if the world followed the IEA roadmap. Without investments in new oil and gas exploration, he said, “the price for oil will go to, what, $200? Gas prices will skyrocket.”

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