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Al-Naimi hails OPEC's 17 years achievements 4 Riyadh
Riyadh, Saudi Arabia, November 14, 2007, SPA - Commenting on claims
that some states intend to file lawsuits against OPEC, Al-Naimi affirmed that OPEC
is able to respond to any lawsuits, considering that as a right to any state, and
pointing out that the Kingdom has no problem in the policies relating to optimal
use of energy and preservation of environment to be pursued by the European Union
countries.
He added," We support these policies as the Ministry of Petroleum and Saudi Aramco
follow up and participate in many researches in the area of alternative energy and
we will seek opportunities for investment anywhere in the world."
Minister Al-Naimi noted that the effect will be limited with regard to the use of
alternative energy, adding, " Developing countries have been rapidly growing as
their growth rate ranges between 9 and to 10 percent. They need fossil fuels and
they will continue dependence on it as a major source for these states. These developments
are not considered threats to dispensing with fossil fuels".
The Minister of Petroleum
and Mineral Resources pointed out that there have been
plans in the Kingdom for years to diversify the economic base and to reduce dependence
on oil fully as a major source of income, saying that this does not mean that oil
is not exploited now as a strong source of income.
He welcomed Canada's accession into OPEC if it wishes, stressing that there is nothing
to prevent this.
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