Saudi Arabia Position Paper

Overview: It is almost impossible to find any synthetic item where petroleum has not had any part in the process of its manufacture. From the moment we wake in the morning to the moment we go to sleep, oil controls our lives. Its influence reaches far into politics, international affairs, global economics, human rights and the environmental health of our planet. Also the myth of peak oil is a scam as it is evident that the fossil fuels worldwide are not going to end any soon. Also fossil fuels will continue to be a major part of the energy sectors for years to come and would be crucial for the developing as well as the developed nations. As of 2030, The Kingdom of Saudi Arabia has 79.76 billion barrels of proven oil reserves. Saudi Arabia continues to be a major proponent in the OPEC and it continues to dominate the OPEC proceedings. The Kingdom of Saudi Arabia had faced some minor problems related to the oil eating microbes in the Arab war which destroyed the oil fields of Ghawar, Shaybah and Berri but after a few years time The Kingdom of Saudi Arabia has made a comeback and it would soon be able to produce enough oil to meet the increasing demand. The Kingdom of Saudi Arabias stand: With almost 10% of the worlds known oil reserves The Kingdom of Saudi Arabia is one of the worlds leading producer and exporter of oil. Its policies on the production and export of oil and petroleum products have a tremendous impact on the global energy market, as well as the global economy. Mindful of their responsibility, The Kingdom of Saudi Arabia has remained committed to ensuring stability of oil supplies and prices. With proven oil reserves of 79.76 Billion barrel, Saudi Arabia will continue to be a major force in the oil market. The Kingdom is committed to providing a stable, reliable and secure supply of crude oil at reasonable prices that benefit both consumers and producers. The Kingdom has long held the view that unstable energy markets or unrealistically low or high oil prices harm both producers and consumers. The Kingdoms assures continued supply of oil. He emphasized that oil prices are determined by the market, not a single country, power or cartel. I can tell you that The Kingdom of Saudi Arabia is committed to ensuring stable supplies of energy. The Kingdom of Saudi Arabia is committed to working with the world, and with its partners in OPEC, to make sure that there is balance between supply and demand. The Kingdom of Saudi Arabia does not view oil as a weapon. We have always said that regardless of the cause of the shortage, OPEC and Saudi Arabia will do their utmost to make up for the shortage.

Solutions:
1. Using latest technologies like fracking to increase oil extraction. 2. Using new sources of energy namely Methane Hydrate.