Oil industry should invest more in alternative fuel: Al-Baker

Oil industry should invest more in alternative fuel: Al-Baker

Qatar Airways Group Chief Executive HE Akbar al-Baker has urged the oil industry to invest more in alternative fuel that will protect the environment.

Participating in a panel session at the World Financial Symposium in Doha, al-Baker said, “What we are asking from the industry (oil and gas) is that they should invest more in alternate fuel that will protect our environment, although we are not the biggest polluter.

“We are the minute polluter – just over 2.6% of the (total) emissions is not a big figure. But we are targeted…the aviation industry is unfairly blamed for global warming. So we now depend on oil companies and we are ready to buy sustainable aviation fuel (SAF), provided it is reasonably priced.

“As I stated, I have no issue in paying a bit more, but I cannot pay four of five times the price of the normal Avgas (aviation gasoline), because it will not be affordable to us. And if we are pushed to do that… you as a passenger are going to pay for it.

“This is because airlines’ operate with very low margin. I don’t think there is any other industry in the world that operates with 4% or 5% margin.

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