Saudi Arabia is blessed with energy from various sources, whether it's fossil in oil and gas, or renewables, wind and solar, that are extremely competitive.
If oil prices will go too high, it will slow down the world economy and would trigger a global recession.
Physical infrastructure remains important (particularly in developing nations), but concurrently investing in the development of a knowledge-based economy is essential to sustaining healthy economic growth and creating well-paying jobs in a highly competitive, ideas-driven global economy.
The development of oil and gas resources depends more on capital than labour, and exporting oil and gas neither generates maximum returns from these precious resources nor creates large numbers of jobs within the local economy. As a result, the benefits are typically not shared broadly across society.
It would be a mistake to believe that environmental protection and economic growth are mutually exclusive.
We absolutely want to harness nuclear energy for peaceful purposes. There should be no doubt about Saudi Arabian intentions. Whatever we do is going to be under strict compliance with international agreements.
