President of Ghadan Foundation for Risk Management: Dependence on oil alone threatens the future of countries

Dr. Abbas Radhi, President of the Ghadan Risk Management Foundation, stressed that the issue of energy is no longer seen as a commodity to be bought and sold, but has turned into a strategic issue linked to politics, economy, society and the environment, pointing out that excessive dependence on oil and gas turns it from a national resource to a threat to development, as is the case in Iraq.

Radi stressed that oil and gas has become a political commodity first, then social and economic, with the need to recognize its environmental and technological implications. He explained that the lack of planning leads to the neglect of other economic resources, which reinforces dependence on oil resources and increases risks.

He pointed out that the Baghdad International Energy Forum discussed the importance of employing modern technology in the extraction and refining of oil and gas, and linking this to the social and environmental implications, stressing that dealing with energy must be done according to a comprehensive approach to risk management that balances between benefiting from its economic returns and avoiding its negative effects on the environment and society.