Pres. Ali urges nations to shelve energy transition, opt for energy balance

May 05, 2026 News

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…at Texas Energy Conference

(Kaieteur News) – President Irfaan Ali on Monday lobbied nations to consider a new term, “energy balance” instead of “energy transition”- a strategy geared towards striking a balance that creates a “win-win” scenario for investors, the planet and humanity.

Presenting this vision to the Offshore Technology Conference (OTC) at the Houston, Texas Conference- Ali prefaced his argument on the world’s increasing demand for energy.

“The global energy challenge is not only about transition. It is about volume and sufficiency. The world does not simply need cleaner energy. It needs significantly more energy.”

Ali told the world’s largest offshore energy technology event that the global energy demand has accelerated at a pace which supply has struggled to match. To this end, the president urged, “This reality must shape how we think about the energy transition. The global response to rising demand and climate concerns has been the acceleration of energy transition. Over the past three decades, the growth of renewable energy has been remarkable.”

Between 2013 and 2024, Ali explained that global renewable energy electricity generation increased by nearly 69 per cent. “Solar energy expanded 15-fold. Wind energy increased almost four-fold.  Hydropower grew by more than 55% and nuclear energy increased by approximately 5.3 per cent,” according to the president.

Despite the scaling up in the use of renewable energy for power generation, Ali told the conference that fossil fuel continues to dominate the global energy system. In fact, he noted that as of 2024, fossil fuels accounted for more than 80 per cent of the global energy mix.

“This is not a contradiction. It is a reflection of the scale of global energy demand. The world is not replacing one energy system with another in a linear fashion. It is building a new system while continuing to rely on the existing system to meet the majority of its energy needs,” Ali explained.

He was keen to note that although coal is the most carbon-intensive fuel, it has seen significant growth in electricity generation, increasing by more than 70% over the past decade. Natural gas is also expanding, with electricity generation increasing by 26.6%, playing a critical role in balancing the intermittency of renewable energy, providing flexible and reliable power when solar and wind generation fluctuate, according to the president.  Meanwhile, he also highlighted that oil, by contrast, has seen a steady decline in its role in electricity generation.

The president therefore suggested, “The energy transition is not a simple substitution of fossil fuels with renewables. It is a complex configuration of the entire energy system. Renewables are expanding, but they are not yet sufficient to meet demand.” At the same time, he said that fossil fuel plays an integral role in meeting baseload demand and supporting industrial revolution. 

Moreover, he pointed to the energy transition outlook which stated that achieving a pathway consistent with limiting global warming below 2°C will require annual global energy investment of approximately US$4.3 trillion between 2025 and 2060.

With access to finance still a hurdle in this process, Ali argued that another factor to be taken into consideration is the availability of minerals.

Against this backdrop the head of state said proceeding responsibly with improved technology, stronger governance, and fairer distribution of benefits, can build an energy balance that is both sustainable and just.

“And I want to introduce this word, energy balance. I think we should all focus now on this new term, instead of energy transition, energy balance. How do we achieve energy balance to create a win-win scenario for investors, the planet, and humanity? And surely, that should be the shared and common objective of all nations, all governments, and all peoples,” Ali said.

The president shared Guyana’s experience in defining its energy strategy.

He told conference delegates, “We have rejected the false choice between economic development and environmental stewardship. We have also rejected the notion that the energy transition could be pursued through a single pathway. Instead, we have adopted a deliberate and integrated dual-track approach.”

He noted that the country is extracting the full value of its hydrocarbon resources while simultaneously building renewable and low-carbon systems.

Ali highlighted that over the past five years, Guyana moved from policy to execution with the gas-to-energy project “a cornerstone of this effort”.

Investments are also being made to upgrade the national grid to supply affordable electricity, improved generation and reliability and significantly reduced carbon emissions.

Ali noted that the country has also deployed solar farms, while advancing hydropower development and investing in wind energy.

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• energy balance, energy transition, Offshore Technology Conference, Texas Energy Conference

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