Alt Energy Not the Answer, Says Saudi Oil Minister

[Javaman]

http://www.forbes.com/2009/02/11/ali-ibrahim-al-naimi-saudi-arabia-oil_0211_saudi_arabia.html

Al-Naimi cautions that green boosterism could inhibit vital oil investment.
HOUSTON--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."

Yahoo! BuzzThat's because meeting global energy needs requires constant investment on a scale unmatchable by economically uncompetitive sources like solar, wind and biofuels.

"Scale is important in the global system. The massive scale of the global energy system makes rapid change costly and impractical," al-Naimi said.

[Tandalayo_Scheisskopf]

1. Sure, Al. Sure.

Of course, we all know you have only our best interests at heart. You are the eyes of altruism.

[Donnachaidh]

2. awwww -- somebody needs a waaahhhhmbulance.

"Promoting alternatives could chill investment in the oil sector,"

Uhh, yeah. Makes you crap your shorts, don't it? :rofl:

[phantom power]

3. Sounds a bit like a threat to me.

Nice store you have here. It sure would be a shame if something was to happen to it.

[47of74]

4. I'd say to Al-Naimi to go pound sand if he doesn't like it

There's a new sheriff in DC now, and he wasn't born with the Saudi's you know what in his mouth, unlike the last guy.

[TygrBright]

5. ::snork:: "Additional henhouse security not the answer to chicken losses, says fox" n/t