Saudi Arabia raises US investments on Trump energy policy

Saudi Arabia may raise US investments on Trump energy policy. Saudi energy minister Khalid al-Falih says Trump has policies which are good for the oil industry. Saudi Arabia may increase its oil investments in the United States due to a more fossil fuel-oriented energy policy by the US administration of President Donald Trump, the kingdom’s energy minister told the BBC in an interview. “President Trump has policies which are good for the oil industry and I think we have to acknowledge it,” Minister of Energy, Industry and Mineral Resources Khalid al-Falih told the BBC.

Saudi Minister of Energy, Industrial and Mineral Resources Khalid al-Falih
Saudi Minister of Energy, Industrial and Mineral Resources Khalid al-Falih

 

Asked whether there is a worry about Trump’s promise to pursue energy independence, Falih said: “We have no problem with the growth of American indigenous oil supply. I have said it repeatedly as long as they grow in line with global energy demand, we welcome them,” Falih said. “We had billions of dollars invested in refining and distribution in the United States and we may be increasing that investment on the back of pro-industry, pro-oil and gas policies of the Trump administration in the US.”