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Asia Today ISSN 1861-4604 Saturday, March 17, 2018


Saudi Oil Minister: US Energy Independence is Naive

He said global energy markets are interconnected

Share on Facebook April 30, 2013, Reporter : Big News Network, Reader : 473



Saudi Arabian oil minister Ali al-Naimi says the United States is naive to think it could become independent from Middle East oil.

Al-Naimi told an audience in Washington Tuesday that he welcomes an increase in U.S. oil and gas production as good for the U.S. economy and world oil supplies.

But he said the idea of energy independence is naive and simplistic, because he said global energy markets are interconnected.

Since the 1973 Middle East oil embargo, many Americans, including President Barack Obama and his predecessors, have said the United States must stop depending on foreign oil. They say energy independence is crucial for U.S. national security.

Saudi Arabia is the world's largest oil producer and exporter. Its oil reserves are the second largest in the world >more...

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