In Monboit's book "Heat"[1] he makes clear that green energy leads to _more_ consumption because people make the mental fallacy thinking it's 0 impact. Greenwashing leads to increased pollution/emissions. Thusly, Saudi knows that increasing renewables is not a competitor to oil consumption. People will simply consume _both_.
[1] - https://www.goodreads.com/en/book/show/340289