ABU DHABI -- Saudi Arabia has been preparing for the prospect of a
peak in global oil demand.
Officials said Riyad has been discussing options ahead of forecasts that
demand for crude oil would peak over the next decade, a development expected
to harm the kingdom's energy industry.
They said the Saudi government has
been drafting options, mostly in the area of industrial diversification.
Also In This Edition
"This is an alarm that we need to take more seriously," Saudi negotiator
Mohammed Al Sabban said.
In an address on Feb. 15 to the Jedda Economic Forum, Sabban, who
represents Saudi Arabia in global climate talks, said Riyad was working to
diversify into alternative energy sources, particularly solar power.
He warned that a long-term decline in world oil demand would harm the Gulf
Cooperation Council state.