He’s self-interested, and the enemy, but he’s not wrong.
The prince said Saudi Arabia had announced raising its production capacity to 13 million barrels per day by 2027 from a nameplate capacity of 12 million now and after that the Kingdom will not have any more capability to increase production.
He was addressing a U.S.-Arab summit in Jeddah attended by President Joe Biden, who is eager to see Saudi Arabia and its OPEC partners pump more oil to help bring down the high cost of gasoline and ease the highest U.S. inflation in four decades.
Adopting unrealistic policies to reduce emissions by excluding main sources of energy will lead in coming years to unprecedented inflation and an increase in energy prices, and rising unemployment and a worsening of serious social and security problems, Prince Mohammed said.
The fact that the Euros have to crawl to Germany and that Biden has to come crawling to the Saudis shows that they’re unrealistic.
Environmentalists love to talk about sustainability. If green energy policies and programs were sustainable, the countries and political movements, leftist ones usually, that adopted them, wouldn’t be in this mess.
It’s precisely because they’re unrealistic that the countries that try to go green become even more dependent on what they call fossil fuels and on foreign nations, some of them quite hostile to the United States.