<p>Saudi Crown Prince Mohammed bin Salman warned Saturday that "unrealistic policies" to curb emissions could fuel inflation, as he chaired a summit bringing together Arab leaders and US President Joe Biden.</p>.<p>The kingdom is the world's largest crude exporter, but Prince Mohammed, the de facto ruler, has tried to make environmentally friendly policies a centrepiece of his reform agenda.</p>.<p>Last year, Saudi Arabia pledged ahead of the COP26 climate change summit to achieve net zero carbon emissions by 2060, sparking scepticism from environmental campaigners.</p>.<p>"Adopting unrealistic policies to reduce emissions by excluding major sources of energy will lead in the coming years to unprecedented inflation and a rise in energy prices, while increasing unemployment and exacerbating serious social and security problems," Prince Mohammed said.</p>.<p>Energy policy has been a key component of Biden's first Middle East tour as President.</p>.<p>Washington wants Riyadh to open the oil floodgates to bring down soaring gasoline prices, which threaten Democratic chances in November mid-term elections in the United States.</p>.<p>After meeting with Saudi leaders Friday, Biden said he was "doing all I can" to increase the oil supply but added that concrete results would not be seen "for another couple weeks".</p>.<p>Prince Mohammed said Saturday the kingdom would "play its role in this field", reiterating a pledge made in May to ramp up daily oil production capacity by more than one million barrels to exceed 13 million barrels by 2027.</p>.<p>With increasing urgency to limit global warming, experts warn of the need to reduce fossil fuel use.</p>.<p>Saudi officials dispute that their policies are in conflict.</p>.<p>"We will continue to advocate increased capacity. We will also continue to advocate... reducing emissions," Saudi Economy Minister Faisal Al-Ibrahim said at the World Economic Forum in Davos in May.</p>.<p>"These two points do not contradict each other. The last thing we want is focusing on climate change without focusing on energy security."</p>
<p>Saudi Crown Prince Mohammed bin Salman warned Saturday that "unrealistic policies" to curb emissions could fuel inflation, as he chaired a summit bringing together Arab leaders and US President Joe Biden.</p>.<p>The kingdom is the world's largest crude exporter, but Prince Mohammed, the de facto ruler, has tried to make environmentally friendly policies a centrepiece of his reform agenda.</p>.<p>Last year, Saudi Arabia pledged ahead of the COP26 climate change summit to achieve net zero carbon emissions by 2060, sparking scepticism from environmental campaigners.</p>.<p>"Adopting unrealistic policies to reduce emissions by excluding major sources of energy will lead in the coming years to unprecedented inflation and a rise in energy prices, while increasing unemployment and exacerbating serious social and security problems," Prince Mohammed said.</p>.<p>Energy policy has been a key component of Biden's first Middle East tour as President.</p>.<p>Washington wants Riyadh to open the oil floodgates to bring down soaring gasoline prices, which threaten Democratic chances in November mid-term elections in the United States.</p>.<p>After meeting with Saudi leaders Friday, Biden said he was "doing all I can" to increase the oil supply but added that concrete results would not be seen "for another couple weeks".</p>.<p>Prince Mohammed said Saturday the kingdom would "play its role in this field", reiterating a pledge made in May to ramp up daily oil production capacity by more than one million barrels to exceed 13 million barrels by 2027.</p>.<p>With increasing urgency to limit global warming, experts warn of the need to reduce fossil fuel use.</p>.<p>Saudi officials dispute that their policies are in conflict.</p>.<p>"We will continue to advocate increased capacity. We will also continue to advocate... reducing emissions," Saudi Economy Minister Faisal Al-Ibrahim said at the World Economic Forum in Davos in May.</p>.<p>"These two points do not contradict each other. The last thing we want is focusing on climate change without focusing on energy security."</p>