Saudi prince calls for lower oil prices

President of the Asian Football Confederation, Mohammed Bin Hammam, right, walks besides the president of Kuwait Football Federation Sheikh Talal Al Fahad Al Sabah , left, before a press conference in Kuwait City on Sunday, May 8, 2011. Sheikh Talal Al Fahad Al Sabah has pledged the support of his organization in the Qatari's citizen bid to run against current FIFA president Sepp Blatter for the presidency which will be decided at the FIFA House in Zurich during the 61st FIFA congress. (AP Photo/Gustavo Ferrari)

(CNN) — Saudi Prince Al-Waleed bin Talal said Sunday that he wants oil prices to drop so that the United States and Europe don’t accelerate efforts to wean themselves off his country’s supply.

In an interview broadcast Sunday on “CNN’s Fareed Zakaria GPS,” the grandson of the founding king of modern Saudi Arabia said the oil price should be somewhere between $70 and $80 a barrel, rather than the current level of over $100 a barrel.

“We don’t want the West to go and find alternatives, because, clearly, the higher the price of oil goes, the more they have incentives to go and find alternatives,” said Talal, who is listed by Forbes as the 26th richest man in the world.

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