Money talks

1 February 2017 By Andy Critchlow

Riyadh may boost its investments in American energy under the new president. An abundance of shale oil and a focus on domestic supply means Saudi Arabian crude is no longer enough to secure U.S. political support in the Middle East. Its cash is still attractive, though.

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Saudi Arabia’s energy minister has said the kingdom may increase its oil investments in the United States due to more favorable fossil-fuel policies expected from the administration of President Donald Trump.

In a video interview with the BBC posted on Feb. 1, Khalid al-Falih said the kingdom shared “huge areas of alignment” on energy issues and dismissed fears over U.S. oil independence.

The kingdom was excluded from a temporary travel ban imposed by the Trump administration on citizens from seven majority Muslim countries entering the United States.

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