Prince Sultan said "The Kingdom's petroleum policy takes into account the interests of both exporting and consuming countries. We always work for the stability of the market and the balance of supply and demand and continuity of oil supplies safely to the consumers, but no country, what ever its productive capacity, can alone determine the price of petroleum because there are uncontrollable factors. The Kingdom of Saudi Arabia has been hosting the general secretariat of the International Energy Forum, which aims at building confidence and exchanging data between the producing and consuming countries as well as promoting a better understanding for the problems of energy that have an international impact. The Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz announced at OPEC summit held in Saudi Arabia in 2007 the establishment of a program for financing scientific researches pertaining to energy and environment and climate changes. The Kingdom has announced contribution of $300 million to the program. These Saudi policies and efforts confirm a sincere Saudi willingness in the stability of the prices in a manner that preserves the interests of the producers and consumers as well as the continuity of the world economic growth, notably in the developing countries in a manner that realizes the welfare of the world's nations." Q: Saudi Arabia owns a huge wealth due to the hike of oil prices, are there any benefits from this economic boom as the case was in the seventies? A: We, in the Kingdom go in line with 5-year development plans that aim at steady and balanced development. The Saudi economy witnessed within the last three decades a remarkable positive and comprehensive transformation. That goes back to the huge investments being carried out by the state in the installations, the material and social infrastructures and industrial utilities. The state has invested great resources in setting up industrial cities, and extended loans and grants for supporting the manufacturing industries, agricultural and housing projects. The 8th development plan which ends in 2010 focuses on the development of the non-petroleum economic sectors as well as improving the services and the operational capabilities in addition to rationalization, development of educational services, sciences and technology, giving attention to the data system and supporting the scientific research by focusing on the knowledge economies.--MORE www.spa.gov.sa/562205