Qatari Ambassador to the US Mohammad bin Abdullah Al Rumaihi.
DOHA: Qatari Ambassador to the US Mohammad bin Abdullah Al Rumaihi stressed the important role of Qatar in supporting other economies especially countries with limited energy resources as he spoke at the National Council on US-Arab Relations on Thursday in Washington.
Ambassador Al Rumaihi said Qatar in collaboration with different countries is making huge efforts to develop production capacity in energy sector using latest technology, one of the important ways to keep the economies developing providing them their energy needs. The Ambassador said keeping the prices of oil balanced needs cooperation of both producers and consumers as balanced prices is for the interest of both parties to improve the life of the people and the future of the coming generation.
“Producers and consumers have common interest that’s why we need to work together and invest to face the future challenge,” he said.
He said economy of importing countries will be affected in case oil producers halt the production and that oil prices will never come down again to $15 or $17 per barrel because this will pave way to oil shock.
The ambassador expressed his displeasure of sensitivities against Arab investment in Washington.
He said: “Instead we should work together to ensure the future of international market by developing resources in different parts of the world such as East Africa, South China and the Philippines.”
Speaking about alternative energy, he said this is not the right time to talk about it and that it is still early and impractical. “We have heard people talking about alternative energy since the 80s saying it would replace oil and gas but until now it has not happened.”
The Peninsula
