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The attack on the Saudi oilfield shows that the world needs to switch to renewable energy: Helen Clark



Last week's attacks on Saudi Arabian oil facilities and the subsequent rise in crude oil prices show that the world is no longer dependent on oil, a former head of state CNBC said Wednesday. Oil production was halted after attacks that were likely to end Use of drones that had hit production sites in Abqaiq and Khurais. Houthi rebels from Yemen have taken the responsibility, although the question of who carried out the strikes remains unanswered.

Is not it interesting that we draw so much (oil) from the most unstable region in the world?

The two international benchmark Brent Crude and US Crude rose more than 1

5% on Monday, despite withdrawing from Hochs following assurances from Riyadh. During the morning trade in Asia on Thursday, Brent and WTI were both slightly higher.

"It's another signal of how the world needs to go beyond oil," said Helen Clark, a former New Zealand Prime Minister, about the price of volatility. She spoke with CNBC's "Street Signs" at the BNP Paribas Sustainable Future Forum in Singapore.

"Is not it interesting that we draw so much (oil) from the most unstable region in the world?" She asked. "That's not sustainable either."

Renewable energy becomes & # 39; irresistible & # 39;

This attitude was confirmed by Mark Lewis, global head of sustainability research at BNP Paribas Asset Management.

The economics of the global energy system is "Lewis told CNBC's" Squawk Box ":" We talk a lot about the environmental dimension, which is the most important dimension for me … about the future of the global energy system, "he said. [19659009] "But I think the oil price rise this week has, short-lived, underscored yet another dimension of this debate: renewable energy is low – cost-effective and long-term stable," he said.

While the economics of "are improving enormously Lewis admitted that there are still barriers to using renewable energy, but said that these are technological and political rather than economic barriers.

"You can not fight the economy forever," he said. "And I think the profitability of renewable energy is now irresistible."


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