CONCLUSION: THE CLIMATE HEDGE197
- Jim Krane, “A Refined Approach: Saudi Arabia Moves Beyond Crude,” Energy Policy
82 (2015): 99– 104.
- For more on Saudi- US ties, see Rachel Bronson, “Understanding US- Saudi Relations,”
in Saudi Arabia in the Balance, ed. Paul Aarts and Gerd Nonneman (London: Hurst,
2006), 372– 98; F. Gregory Gause III, “Saudi Arabia in the New Middle East,” Special
Report 63 (New York: Council on Foreign Relations, 2011).
- Jeffrey Goldberg, “The Obama Doctrine,” Atlantic, April 2016, https: //www .theatlantic
. c o m / m a g a z i n e / a r c h i v e / 2 0 1 6 / 0 4 / t h e - o b a m a - d o c t r i n e / 4 7 1 5 2 5 /.
- US Energy Information Administration, “U.S. Field Production of Crude Oil,” https: //
w w w. e i a. g o v / d n a v / p e t / h i s t / L e a f H a n d l e r. a s h x? n=PET&s=MCRFPUS2&f=A.
- Krane, “A Refined Approach.”
- Wael Mahdi, “Aramco Mulls Indian Refinery in Plan to Boost Asia Footprint,” Bloom-
berg, M a r c h 9 , 2 0 1 6 , h t t p s : / / w w w. b l o o m b e r g. c o m / n e w s / a r t i c l e s / 2 0 1 6 - 0 3 - 0 8 / a r a m c o
- m u l l s - i n d i a n - r e fi n e r y - i n - d r i v e - t o - i n c r e a s e - a s i a - f o o t p r i n t.
- Jim Krane, “Climate Change and Fossil Fuel: An Examination of Risks for the Energy
Industry and Producer States,” MRS Energy & Sustainability 4 (2017), https: //doi .org
/ h t t p s : / / d o i. o r g / 1 0. 1 5 5 7 / m r e. 2 0 1 7. 3.
- This material is based on an author discussion with a former Saudi Aramco official
on condition of anonymity, March 24, 2016. For a similar depiction of Saudi deple-
tion strategy, see John V. Mitchell and Paul Stevens, Ending Dependence: Hard Choices
for Oil- Exporting States (London: Chatham House, 2008), 12.
- See Joseph A. Kenny, “Saudi Aramco still aiming for 12 million barrel production
capacity by June 2009,” diplomatic cable, 2009, US Department of State, Dhahran,
via WikiLeaks. Also see Mitchell and Stevens, Ending Dependence.
- “Saudi King Says Keeping Some Oil Finds for Future,” Reuters, April 13, 2008, http:
/ / u k. r e u t e r s. c o m / a r t i c l e / s a u d i - o i l - i d U K L 1 3 9 6 8 7 7 2 0 0 8 0 4 1 3.
- See Kenny, diplomatic cable; James B. Smith, “Reinvigorating an energy dialogue with
Saudi Arabia a key step to a stronger strategic partnership,” diplomatic cable, Octo-
ber 22, 2009, US Department of State, Riyadh, via WikiLeaks.
- Naimi said in March 2016 that the world would not be able to stop extracting fossil
fuels in the next fifty years. Grant Smith, “Saudi Arabia’s Oil Chief Prepares for a
World After Fossil Fuels,” Bloomberg, March 17, 2016, http: //www .bloomberg .com
/ n e w s / a r t i c l e s / 2 0 1 6 - 0 3 - 1 7 / sa u d i - a r a b i a - s - o i l - c h i e f - p r e pares - for - a - world - after - fossil
- Peter Waldman, “Saudi Arabia’s Plan to Extend the Age of Oil,” Bloomberg, April 12,
2 0 1 5 , h t t p : / / w w w. b l o o m b e r g. c o m / n e w s / a r t i c l e s / 2 0 1 5 - 0 4 - 1 2 / s a u d i - a r a b i a - s - p l a n - t o
- e x t e n d - t h e - a g e - o f - o i l.
- Smith was reporting his conversation with then deputy oil minister Prince Abdulaziz
bin Salman al- Saud. James B. Smith, “What concerns Saudi Arabia about the future
of energy and climate change,” diplomatic cable, US Department of State, Riyadh,
v i a W i k i L e a k s , h t t p s : / / w i k i l e a k s. o r g / p l u s d / c a b l e s / 1 0 R I Y A D H 2 1 3 _ a. h t m l.
- Mohammad S. Masnadi, Hassan M. El- Houjeiri, Dominik Schunack, et al., “Well-
to- Refinery Emissions and Net- Energy Analysis of China’s Crude- Oil Supply,” Nature
Energy 3, no. 3 (2018): 220.
