Solar To Not Eclipse Oil For Decades To Come: Naimi

Saudi Arabia is committed to investing in solar energy and other renewables in preparation for the end of the fossil fuel era, says Oil Minister Ali Naimi. But it is too early to phase out “bad” fossil fuels, which will be needed for decades to come. The answer is in developing technology to develop fossil fuels more cleanly until such time as renewables can take over.

“Fossil fuels, I know they are bad…” he told the Unesco Business and Climate Summit in Paris on 21 May. The world must not be complacent. There are around two million people without access to electricity and 15 million more with access to unreliable energy. “Our challenge is to make this energy affordable, reliable and climate friendly,” says Mr Naimi, making a point of saying that his experience in the energy world spans 60 years. (CONTINUED - 946 WORDS)

DATA INSIDE THIS ARTICLE

table Saudi Arabia Official Crude & Oil Products Output, Trade & Balance (‘000 B/D)