Fears about energy security, and last year’s oil price spike, have sparked a serious push for renewable energy in the United States, the world’s largest oil consumer.

The trend is apparently making the world’s largest oil producer, Saudi Arabia, nervous.

Speaking at a major energy conference earlier this month, Ali Al-Naimi, the Saudi oil minister, offered an impassioned defense of oil, which he called “an enabler of progress and prosperity.” He cautioned that the current economic crisis — and the uncertainties over future oil consumption — could force producers to trim their supplies, and hence could cause a new price shock.

Mr. Naimi also offered his strongest public criticism against the drive for alternative fuels — which he referred to as “supplemental” energy — and the inconsistent policies of consuming countries. Although he never once mentioned either the United States or President Obama by name, these were clearly his targets.

But as I listened to the speech carefully again this week, it also struck me as one of the most important discourses on the economics of petroleum made by a senior oil official in recent times.

A video of the session is available here — though it takes a while to get through other speakers. (The relevant parts start around the ninth minute and last about 20 minutes.)

Mr. Al-Naimi, without doubt the most influential spokesman for the petroleum industry, began his address by praising the virtues of oil, the mainstay of the Saudi economy for 60 years.

“Oil is expected to retain its leading position as the world’s largest single source of energy,” Mr Al-Naimi said.