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Saudi turns to alternatives to prop up oil power

Wed, 02/16/2011 - 4:27pm
Reuters

DUBAI/KHOBAR, Saudi Arabia (Reuters) - For oil colossus Saudi Arabia, a shift to renewable energy is as much about preserving its international influence and maximizing its revenues as saving the planet.

The world's leading oil exporter and custodian of more than 260 billion recoverable barrels -- around a fifth of the world's stock -- Saudi Arabia has long held sway over markets and governments with its ability to add or subtract crude at a turn of the spigots.

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