Saudi crown prince says unrealistic energy policies will lead to inflation

Saudi Arabia's Crown Prince Mohammed bin Salman, addressing a US-Arab summit, said on Saturday that unified efforts were required to support the global economy and that unrealistic policies regarding energy sources would only lead to inflation.

"Adopting unrealistic policies to reduce emissions by excluding main sources of energy will lead in coming years to unprecedented inflation and an increase in energy prices and rising unemployment and a worsening of serious social and security problems," he said.

The leader of the world's top oil exporter said Covid-19 and the geopolitical situation necessitated more joint efforts to support the global economy and that environmental challenges required a "realistic and responsible" approach to gradually transition to sustainable energy sources.

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