one which ensures we will be able to meet growing global demand for energy in the decades ahead-- then we must recognize the central role that petroleum will continue to play and make our investment decisions accordingly. Fifth, it is essential for the world and its people to have a clean environment and to reduce harmful emissions while at the same time sustaining economic growth and human health and prosperity. There is no doubt that fossil fuels will be a major source of energy for many decades to come, which means our challenge is how to make them cleaner and to lighten the environmental footprint of their production and their consumption. We believe that technology can and should play an important role in meeting this challenge. In this regard, Saudi Arabia is very active at national and international levels, and on many fronts. For example, just two months ago the Custodian of the two Holy Mosques, King Abdullah announced an initiative to allocate $300 million to finance research in energy and environment especially climate change. In addition , one of the major focus areas for the Kingdom's newly created science and research university, the King Abdullah University for Science and Technology, is the development of new technologies related to energy and the environment. Furthermore, this year we will establish in Riyadh the Center for Petroleum Research and Studies, which also will deal with environmental issues. Finally, we continue to cooperate with many international research institutions, energy companies, universities and governments on the related issues of technology, energy and environment. We believe that these efforts will bear fruit in the coming years in reducing harmful emissions, in protecting the global environment, and in ensuring continued human prosperity and well-being. Thank you for your attention, and now I would be happy to entertain your questions."
