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One of the goals of the energy policy in Saudi Arabia is and still, to harness the natural resources owned by the Kingdom to meet the needs of the Saudi citizen. In order to achieve this goal, Saudi Arabia has had to maintain a balance between getting a good return from the oil, gas, and their products, and between ensuring the continuation of an affordable price of the energy to the consumer to be used at homes and commercial and industrial establishments.
Will the support for the price of gasoline be raised ? Question arises of urgency after we hearing that the period of support is nearing to complete . Currently, petrol is sold at a price in the UK are among the lowest in the world, even compared to other GCC countries, richer and less populated and smaller geographical area. There is no doubt that there are indications that there is waste in the use of gasoline, and even cases of smuggled across borders in order to take advantage of the price difference. The point here is that we first have to deal with the waste, and abuse.
Last week, I received with pleasure the invitation to give a lecture at the King Abdullah Petroleum Studies and Research Center. This is my second visit to this center, which is the first and largest independent research center set up in the kingdom. The center does not conduct researches in the field of energy at the level of the Kingdom of Saudi Arabia only, but at the level of the entire world. As the kingdom is an active member in the international community, it is vital to have a global vision on many economic and geo-strategy issues.