Could you encapsulate for us where you think the world oil markets could be expected to move over the next six to twelve months? Well, I think you will see more stabilization of the oil market at current levels. Stabilizing at around about the levels we’re seeing now? That means we are probably not going to see last year’s peaks again. Well, I think the fundamentals point toward more stabilization with high stock levels. How much of a concern are current security developments in the Middle East? Ar eyou worried about the latest developments? No, I think the security situation is quite satisfactory. Significant measures have already been established to respond to any specific threat. Our facilities are secure and we have the capability to further secure our vital facilities. The World Economic Forum this year has mentioned climate change and global warming to an extent never before seen. What is Saudi Arabia’s long-term view on how is it going to manage its oil reserves given that the rest of the world is going to be aiming to consume less … The issue of climate change is a global issue and we all need to work together on coming up with pragmatic and practical solutions that will allow us to enjoy the bounty of plentiful oil and at the same time protect the environment. Have we yet reached the stage where the fact that we are still burning oil in cars, airplanes and power stations is looking foolish? I mean, we should be looking at maintaining our reserves for chemical feedstock, and other things like that, shouldn’t we? I think the market forces and technology will determine that. Liquid fuel continues to be the fuel of choice. It is safely transported, it is efficient, it is cost-effective and there is much research on cleaner fuel. Let’s enjoy this plentiful resource, use it wisely and protect the environment but not overly tax the world’s economic growth by panicking. I think we need to work together toward promoting alternative fuel that can come in as complementary. The world needs all the energy that we can get with the potential economic growth that we can see.

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