border organizations. From my perspective, I believe we can do this at a minimum cost and for a maximum benefit, but only if we work together as producers and consumers, engaging not only the energy industry but also other institutions and organizations. One promising method of reducing greenhouse gas emissions is through the technology of carbon capture and storage-a technology which is gradually gaining in importance and significance. Besides other benefits, it is expected that this technology could lead to reductions in carbon emissions of at least 20 percent-a major achievement by any measure. But even though it is clear that carbon capture and sequestration is a major environmental tool, there has been some resistance to this technology, stemming largely from environmental lobbyists who assume that it is being promoted by the petroleum and coal industries. Pushback is also coming from other special interest groups, as well as some countries which are promoting other sources of energy such as nuclear. This is very damaging, and in my view, extremely shortsighted. Rather than pursuing narrowly defined interests and parochial concerns, I believe we have to work together on the basis of an objective and holistic approach if we are to achieve four universal goals: a clean environment, sufficient supplies of clean energy, sustained economic growth, and an improvement in living standards for the Earth's inhabitants. That's a tall order, and one which we will only be able to fill through collective and collaborative effort. At this point, ladies and gentlemen, I would like to talk about Saudi Arabia's approach to these pressing challenges, and to the crucial relations between energy, economic growth, human prosperity and the environment. --More
