Saudi Oil Min.: Biggest Threat to Supply is Dearth of Investments



The biggest danger to satisfying global energy needs is a lack of investment, Saudi Arabian Oil Minister Ali Naimi told reporters at the 11th International Energy Forum.

Naimi followed the statement by saying that there are currently enough reserves to meet the world's energy demands for the next 50 years.

Also, Naimi said Saudi Arabia is in negotiations that would allow for more joint ventures with foreign oil companies. He offered no details about the potential join ventures.

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