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Commodities Briefing - Categorized | Energy, Market Pulse, Oil, People more

Alt energy not the answer, says Saudi oil minister

Posted on 12 February 2009

From Forbes: Saudi Arabia’s oil minister, Ali Ibrahim al-Naimi, in a speech Tuesday night issued a warning against overzealous boosterism of non-fossil fuel energy sources in a time when oil prices have become “unsustainably” low.

“Promoting alternatives could chill investment in the oil sector,” he said, in a dinner address to the CERAWeek energy conference in Houston. “It would be a nightmare if alternatives don’t meet expectations.”…. Full Article: Source


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