Since U.S. unconventional oil and gas production has grown in the past four years, one of the biggest benefits cited by its proponents has been the ability to make the country “energy independent” by stopping its “dependence on foreign oil.”

These statements have usually implied that the country’s current energy policy funds the interests of our enemies. This would seemingly include Saudi Arabia, the world’s largest producer of crude oil, but Ali al-Naimi, the country’s minister of petroleum and mineral resources, says this outlook is misguided.

“I believe this talk of [the U.S.] ending reliance [on foreign crude] is a naïve and rather simplistic view. It seems to conflate, on the one hand, U.S. foreign policy, and on the other, U.S. energy policy. Talk of energy independence fails to recognize the interconnected nature of global energy markets,” he said while speaking recently at the Center for Strategic and International Studies (CSIS) in Washington D.C.

He noted that if you combine crude and liquids exports, the U.S. is the third-largest exporter behind only Saudi Arabia and Russia. This status is a result of the aforementioned huge production increases brought about by unconventional technology that has helped unlock such plays as the Bakken, Eagle Ford and Marcellus.

While this change in production is likely to cost Saudi Arabia market share in the U.S., al-Naimi said that he doesn’t view this new production as a negative for Saudi Arabia. “New commercial reserves of shale oil or tight oil are transforming the energy industry in America … I welcome these new supplies into the global oil market. I hope these additional resources will add depth and bring increased stability to global oil markets. These reserves will lead the U.S. into a much deeper engagement in world energy markets and this is good news.”

He added that there is no such thing as “energy independence” since all countries are part of a global market. “No country is truly energy independent. I do not go along with the opinion that increasing U.S. liquid production means the United States could and should detach itself from international affairs.”

In fact, al-Naimi said that the question that should be asked is not whether the U.S. can be energy independent, but how much of its oil and natural gas supplies it will be prepared to export in the future.

Furthermore, he contended that Saudi Arabia should not be looked at as an opponent or enemy that other countries need to distance from, as the country has consistently worked to fill in any supply shortfalls in times of crisis such as hurricanes and other geopolitical incidents in order to ensure a strong global economy.

“Since 2009, Saudi Arabia has carried a spare capacity of between 2.5 million and 3 million barrels (bbl.) per day … Only Saudi Arabia has the capacity and ability to take such steps,” al-Niami said. As further proof of the country’s interest in a global well-being over its short-term gains, he cited his call last year for lower crude prices, which he believed were not truly reflective of existing supply-and-demand fundamentals. “The objective of Saudi Arabia’s oil policy is not high prices at any cost.”

Increased crude and liquids production also helps support job creation, economic progress, manufacturing, transportation and innovation. “Fossil fuels are our most enduring energy source. They’re the driving force of economic development in the U.S., Saudi Arabia and for much of the developed and developing world,” he said while noting that these fuels have helped the U.S. become the leading global power and allowed Saudi Arabia entry into the G-20 nations.

In short, fossil fuels are not just the fuel of the past, but also of the future with the U.S. having a renewed faith in their longevity. Alternative fuels will have a place in the energy mix, but fossil fuels will continue to dominate due to their lower costs, strong reliability and effectiveness, according to al-Naimi.

The one big obstacle to overcome will be the negative side effects, such as emissions, but he remains confident that these negatives can be diminished as more resources are put toward that goal. Just as technology has furthered the lifecyle for fossil fuels, it can help it become cleaner. “Have faith in technology. This oil and gas business will be with us for many, many years.”

He noted in that in just four years, the world outlook on energy has undergone a 180-degree reversal from thinking there was peak oil to the current age of plenty. “At least this time the prophets are backed up by evidence.”

Shortly before al-Naimi’s speech at CSIS, Saudi Arabia’s Prince Turki Al-Faisal seemed to indicate while speaking at Harvard University that his country was going to further increase its production when he was quoted as saying it would increase production capacity to 15 million bbl. per day by 2020.

However, al-Naimi clarified this comment by saying the country had no plans to increase capacity to this level. “I don’t know what he meant by 15 million bbl. per day. He may have been thinking about our ability to do that. In other words, not that we are going to [increase production capacity to this level], but that we have the capability to [do so].”

Additional production form around the world makes it very unlikely and unnecessary to increase production capacity to this level, he continued. Current capacity out of Saudi Arabia is 12. 5 million bbl. per day, but the country is only producing approximately 9 million bbl. per day.

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