[Rembrandt]

That’s fine and dandy Towelhead. Unfortunately for you and the other sand fleas in the Mideast, almost every other country also has reserves meaning you guys are no longer King Shiite!

[txrefugee]

The happiest day for this country will be when we buy our last barrel of oil from OPEC.

[Cicero]

The article is pretty vague. It's not clear whether there is some evidence of a lot of gas and shale in the area, or whether this is purely wishful thinking.

It "could be twice the size of its conventional gas reserves . . . Minister of Oil Ali al-Naimi said. . . .

“We have rough estimates of 600 trillion cubic feet of unconventional shale gas. The potential is very huge and we plan to exploit it,” he said during a Credit Suisse conference. . . .

In separate comments to The Wall Street Journal, Mr. al-Naimi said he anticipated that the country’s shale-oil reserves could also be exploited, but added that “we have to find them.”

[dila813]

Good bye Peak Oil

[Fractal Trader]

Your thoughts?