In a speech at the Middle East and North Africa energy conference in London yesterday, Al-Naimi — who once called renewable energy a “nightmare” — hailed energy efficiency and solar as important investments, global warming “real” and “pressing,” and explained that drilling for oil “does not create many jobs.”
“We know that pumping oil out of the ground does not create many jobs. It does not foster an entrepreneurial spirit, nor does it sharpen critical faculties.”
In the U.S., which is definitely not the Saudi Arabia of oil (that would be Saudi Arabia), there is a major industry campaign underway to convince Americans that drilling for fossil fuels will create over a million jobs in the country. However, assuming we drill virtually everywhere possible in America, credible analysis puts the real figure at a small fraction of that claim.
Even the Saudis, who pump out 12% of the world’s oil, understand that simply drilling for more oil isn’t a long-term economic strategy. More
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