Saudi Arabian oil minister Ali al-Naimi says the United States is naive to think it could become independent from Middle East oil.

Al-Naimi told an audience in Washington Tuesday that he welcomes an increase in U.S. oil and gas production as good for the U.S. economy and world oil supplies.

But he said the idea of energy independence is naive and simplistic, because he said global energy markets are interconnected.

Since the 1973 Middle East oil embargo, many Americans, including President … [Read More]

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Source: VOA News: Economy and Finance