Sunday, January 29

Saudi energy minister says focusing only on renewables a mistake

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RIYADH — The Saudi energy minister said on Sunday that focusing only on renewable power sources was a mistake and that the world may not be able to produce all the energy needed for economic recovery from the coronavirus pandemic.

“The pandemic and the recovery underway have taught us the value of caution,” said Prince Abdulaziz bin Salman during an energy event in Riyadh.

He added that a lack of investments had caused energy prices to rise, but that Saudi Arabia was continuing to invest in production capacity. (Reporting by Aziz El Yaakoubi; Writing by Ahmad Elhamy; Editing by Jan Harvey)