For oil colossus Saudi Arabia, a shift to renewable energy is as much about preserving its international influence and maximising its revenues as saving the planet.
The world's leading oil exporter and custodian of more than 260 billion recoverable barrels -- around a fifth of the world's stock -- Saudi Arabia has long held sway over markets and governments with its ability to add or subtract crude at a turn of the spigots.
It has repeatedly said the world will for decades to come need the fossil fuels that in the short term are by far the most profitable.
No comments:
Post a Comment