Saudi Oil Minister Warns Against Moving Quickly to Alternative Energies

In a speech in Houston on Tuesday, Saudi Arabia Oil Minister Ali al-Naimi expressed concern that too much emphasis on alternative energies would mean lack of funding for oil investments.

1 minute read

February 12, 2009, 2:00 PM PST

By Tim Halbur


"Substituting the current energy infrastructure will be "prohibitive" in the short term and given the massive scale of the global energy system, a rapid change to alternative energy will be "costly and impractical," al-Naimi said yesterday at an energy summit in Houston organized by the Cambridge Energy Research Associates.

"While the push for alternatives is important, we must also be mindful that efforts to rapidly promote alternatives could have a chilling effect on investment in the oil sector," al-Naimi said in a speech on "Achieving Energy Stability in Uncertain Times" on Tuesday, according to Reuters.

"A nightmare scenario would be created if alternative energy supplies fail to meet overly optimistic expectations, while traditional energy suppliers scale back investment" he added."

Wednesday, February 11, 2009 in International Business Times

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1, 2025 - Honolulu Civil Beat

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 9, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Bend, Oregon

Bend, Oregon Zoning Reforms Prioritize Small-Scale Housing

The city altered its zoning code to allow multi-family housing and eliminated parking mandates citywide.

1 hour ago - Strong Towns

Blue and silver Amtrak train with vibrant green and yellow foliage in background.

Amtrak Cutting Jobs, Funding to High-Speed Rail

The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

2 hours ago - Smart Cities Dive

Green Skid Row mural satirizing city limit sign in downtown Los Angeles, California.

LA Denies Basic Services to Unhoused Residents

The city has repeatedly failed to respond to requests for trash pickup at encampment sites, and eliminated a program that provided mobile showers and toilets.

3 hours ago - Los Angeles Public Press