The interior of Saudi Prince Alwaleed bin Talal's private Boeing 747 airplane.
Cry me a river.
Posted on 07/29/2013 7:39:10 AM PDT by SeekAndFind
Billionaire Saudi Prince Alwaleed bin Talal has warned shale oil and gas development poses a threat to the kingdom's economy, the Wall Street Journal's Summer Said reports. In an open letter to Saudi oil minister Ali al Naimi [in Arabic], Alwaleed also warns the kingdom must diversify its revenue streams in the face of flagging oil demand.
A source translated the key portion of the note:
With all due respect to your Highness’ viewpoint about shale gas and that it poses no danger on Saudi economy at ‘the present time’, I was hoping that your Highness would also shed light and focus on the danger of this matter in the ‘not-so-distant future’, especially that America and some Asian countries made big discoveries in shale gas extraction which will affect the oil industry around the world in general and Saudi Arabia in particular...
He also sent us the following summary of the letter's salient parts:
The third page calls on the government to decrease its dependence on oil and start investing in alternative energy sources like solar.
The fourth page is to the deputy oil minister after he told BBC that Saudi is not concerned about shale gas at the present time. Alwaleed says shale gas may not be a concern in the present, but it should be worrying for the future of Saudi energy exports.
The fifth page is similar to the fourth. His handwritten comment asks if indeed 92% of Saudi revenue is from oil and that we should pay more attention and shale gas and other energy developments around the world.
(Excerpt) Read more at businessinsider.com ...
The interior of Saudi Prince Alwaleed bin Talal's private Boeing 747 airplane.
Cry me a river.
With a conservative (or, at least, non-socialist) Presdient and a compliant Congress, we could put the Saudis back to the 8th century, where they belong.
LOL. If you only knew.
Well, with the Bamster in office through 2016, they have three years of breathing room in which to formulate a plan to get another muzzie symp into office.
The Bushes were real cozy with the House of Saud, as well.
After generations of $100,000 parties with whores in high class hotels across Europe, and driving sterling silver Rolls-Royce’s they suddenly think, hey, perhaps we should invest in our country and infrastructure?
A little late... We used your oil to build our nation. Thanks
Pull the plug on the prince!
I think a close inspection of the donor lists, and the sources of grant money to key members will be part of the answer to the question.
Another part of the answer is that the apartheid-era South Africans did not have people who in the West who would slice your throat in the middle of a public street for daring to criticize apartheid.
EXACTLY! Follow the money. The only people benefitting monetarily from our EPA strangling our energy industry are Muslim Radicals.
They stopped coal to gasoline in the late 70s, but I’m afraid the cat is out of the bag on shale oil and gas fracking.
correct assessment.
No, it's not. See the link at post 24.
Just dam up the river that AllTheWeed is crying, and they could have electricity for 100 years.
And he recommends investing in alternative energy? Really?! I don’t think he’s been paying close attention to what’s been going on here.
The first step would be to ban all travel to the USA from approx. 15 mid-east and South Asian countries
The next step is to develop North American shale and oil to the fullest extent possible
Given that, the war on terror will be distant memory.
They see what the excess sweet crude out of ND has done to the economies of Nigeria other producers of that type of crude. They know they are next. It is smart for them to diversify. That is why the United Arab Emirate's built Dubai into the middle east playground that is has become today.
No biggie, Obama is doing everything in his power to crush the oil business in the U.S.
They don’t have much to worry about when we have a tyrant hell bent on destroying our livelyhood.
Guess it sucks to be them.
I’ll tell you what will be hardest hit...strip clubs....Saudi businessmen make a beeline for them whenever they land in a non-muslim country.
Saudi money has funded terrorism, islamism and mosque building around the world. Without oil, their only other exportable resource is sand.
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