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.

Khalid A. Al-Falih

Categorized in : Result Numbers Development Society

It's true that robust governance structures, checks and balances, transparency of markets, directionally leads to... less vulnerability to corruption.

Khalid A. Al-Falih

less true transparency corruption

Resource-rich nations should not ignore efficiency simply because energy is abundant.

Khalid A. Al-Falih

because ignore efficiency energy

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.

Khalid A. Al-Falih

economic growth development important

It would be a mistake to believe that environmental protection and economic growth are mutually exclusive.

Khalid A. Al-Falih

environmental growth mistake believe

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.

Khalid A. Al-Falih

oil energy blessed wind

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.

Khalid A. Al-Falih

peaceful energy doubt want

Our history with Americans goes back over 80 years. They came here, they helped us harness our oil and gas, and we became leaders.

Khalid A. Al-Falih

us back oil history

We have large resources of uranium that we are exploring, and we are extremely encouraged.

Khalid A. Al-Falih

large uranium exploring resources

My role as the energy minister is to implement my government's constructive and responsible role and stabilizing the world's energy markets accordingly, contributing to global economic development.

Khalid A. Al-Falih

government development energy world

If oil prices will go too high, it will slow down the world economy and would trigger a global recession.

Khalid A. Al-Falih

slow down will world

I think that rational people in the world know that oil is a very important commodity for the rest of the world.

Khalid A. Al-Falih

rest think people world

Saudi Arabia is a very responsible country. For decades, we used our oil policy as responsible economic tool and isolated it from politics.

Khalid A. Al-Falih

economic oil politics country