and resource stewards like Saudi Aramco, the Kingdom's oil enterprise, are expending funds to make additional supplies available. "Last year, Saudi Aramco completed the largest capital program in company history at a cost exceeding $100 billion and spanning mega-projects in oil, gas, natural gas liquids, refining and petrochemicals. The oil and gas components of this project slate have enabled the Kingdom to raise its maximum sustainable crude oil production capacity to 12.5 million barrels per day. That's a capability unmatched in the industry. More importantly, that's good news for energy security. "Turning from the adequacy criterion to the sustainability factor, petroleum continues to pass the smart energy test. Aided by science and technology advances, producers are stewarding these supplies so that strides are being made in such areas as better recovery, less invasive practices, emissions reduction, and improved fuel efficiency. "The cornerstone of smart energy is R&D; the same is true for oil. Making the footprint of petroleum operations and products lighter is a major industry thrust. Just as we are investing in supplies, we are also allocating massive investments toward improving petroleum's sustainability - a broad umbrella that encompasses efficiency, affordability, safety and environmental protection. Some of the most significant environmental innovation is aligned with petroleum's leading use in transportation. "In Saudi Arabia's case, we are focusing on cleaner-burning fuel formulations and clean-engine technologies. On a domestic level, we are implementing a plan to reduce the sulfur content of various grades of fuel used in the Kingdom. "Complementing innovation, knowledge leadership is an emerging energy sustainability focus. Think-tanks like King Abdullah Petroleum Studies and Research Center, whose mission is global energy and environmental research and policy studies, are contributing useful perspectives and insights to global energy tracking. "Having shown how petroleum checks off those smart energy boxes, I have one more strategy to define in the Kingdom's smart-energy approach: the development of alternative energies. --More
