JEDDAH — Amos Hochstein, special envoy and coordinator for International Energy Affairs for the US Department of State, expressed high hopes for the Saudi government's Vision 2030 on his recent visit to Jeddah. He said he feels pleased and encouraged by the articulation of a powerful vision by the Saudi government. Hochstein stressed that moving any country away from reliance on a primary income source is extremely important and Vision 2030 is an opportunity which can be capitalized on. "With the kind of dedication we have seen the Saudi government put behind this vision, I think we can see real results through the creation of businesses and most importantly in hiring and training of young Saudis," he said. The visit was primarily to meet and exchange views with Eng. Khaled Bin Abdulaziz Al-Faleh, newly appointed minister of Energy, Industry and Mineral Resources, to hold talks on the expanded nature of the energy ministry, and discuss the conditions of the oil markets and how reduced oil prices will affect the two countries and the rest of the world. "Saudi Arabia and the US, being two of the world's largest oil producers, not only share a concern for the global oil market but also hold different views and share responsibilities toward development of the market," Hochstein told Saudi Gazette. Hochstein also held detailed talks with the Saudi minister regarding reforms articulated in the Saudi government's plans for the electricity market. The US envoy stressed the importance of alternative sources of energy for creation of jobs, adding that there is an untapped potential of entrepreneurship skills and creativity among Saudi youth that can be encouraged. He explained that the focus is not just on moving revenues from the energy sector to others, but rather to transform its nature. "Today if we talk about the energy sector in Saudi Arabia, it means oil. What is exciting about the potential is moving toward an integration of renewable energy," he said, adding that it is a misconception that oil-producing countries cannot generate energy using renewable sources. "For any country, especially Saudi Arabia, renewable energy will help produce more jobs and attract more skilled labor than oil industry, generate higher revenues and improve air quality, supporting global collaboration on climate change," stated the envoy. Despite an impressive natural potential for solar and wind power, and a threefold expected increase in local energy consumption in the next few years, Saudi Arabia still lacks a competitive renewable energy sector at present and Vision 2030 aims to utilize this untapped energy. "In my opinion, if the Saudi government creates the regulatory environment and investment climate for utilization of wind and solar energy, the private sector in Saudi Arabia and all over the world will rush to invest," Hochstein said. Currently, Saudi companies are doing impressive work in the renewable energy sector outside Saudi Arabia and Vision 2030 will allow these companies to make similar investments here. "We've always had very close relations with the Saudi government and we will continue to work together in the future. The renewable energy sector in the US is one of the best in the world and our companies would be the best form of collaboration in this sector. I'm extremely optimistic that American companies would invest in Saudi Arabia once the sector is available for this."
