Saudi Arabia To Focus On Non-fossil Fuels

Prince Turki Al Faisal Al Saud, one of Saudi Arabia’s top spokesmen, has confirmed that Saudi Arabia has plans to generate 100% of its power from renewable sources, and low carbon forms of energy.

Oil is more precious for us underground than as a fuel source. If we can get to the point where we can replace fossil fuels and use oil to produce other products that are useful, that would be very good for the world. I wish that may be in my lifetime, but I don't think it will be.

Meanwhile, in the United States, "production of oil is on pace to rise 7 percent this year to a daily average of 10.9 million barrels. The Energy Department forecasts that production will continue its rise and average 11.4 million barrels per day in 2013." The CIA predicts Saudi Arabia will produce 11.6 million barrels per day in 2013, followed by the U.S. with 10.9 million and Russia in third place with 10.3 million.