Gulf states push for net zero but warn ‘we can’t just switch off the tap’

Gulf states push for net zero but warn ‘we can’t just switch off the tap’

The next time Saudi Arabia’s energy minister goes shopping for a car, one thing is clear — it “certainly” won’t be electric.

The Gulf state is the world’s largest exporter of crude oil and “as a minister of energy in Saudi Arabia, I have to be faithful to my beliefs”, said Prince Abdulaziz bin Salman at a green energy conference in Riyadh. He added one caveat. “However, the country will be manufacturing electrical cars . . . you have to keep your options open.”

Prince Abdulaziz’s answer makes clear the ambivalence of oil-rich Gulf exporters, some of the world’s largest emitters of greenhouse gases, as they pledge to cut their emissions. Ahead of COP26 in Glasgow, both Saudi Arabia and the United Arab Emirates committed to reaching net zero by 2060 and 2050, respectively.

The desert states, themselves highly exposed to the impact of global warming, are investing billions into solar, wind and hydrogen power in an effort to become world leaders in clean energy. But they also insist that they need to pump more oil to keep their economies afloat and have the financial resources to invest in new energies.

“They’re telling us, ‘We need to fight climate change, but we want oil and gas to remain