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PRINCE ALWALEED: Fracking Is Going To Crush The Saudi Economy If Nothing Is Done
Business Insider ^ | 07/29/2013 | Rob Wile

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 ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: alwaleedbintalal; bintalal; economy; energy; energyindependence; fracking; hydrocarbons; islamofascism; methane; oil; opec; petroleum; princealaween; princealwaleed; saudiarabia; shaleoil; sunni; sunnimuslim; sunnimuslims; sunnis
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To: SeekAndFind

The interior of Saudi Prince Alwaleed bin Talal's private Boeing 747 airplane.

Cry me a river.

21 posted on 07/29/2013 7:53:24 AM PDT by shove_it (long ago Orwell and Rand warned us about 0bama's America)
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To: SeekAndFind
Fear not. pResident Hussein Alinsky and his EPA will find a way to put a stop to fracking... in the United States.
22 posted on 07/29/2013 7:54:50 AM PDT by E. Pluribus Unum (Who knew that one day professional wrestling would be less fake than professional journalism?)
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To: SeekAndFind

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.


23 posted on 07/29/2013 7:54:58 AM PDT by TruthShallSetYouFree (July 4, 1776: Declaration of Independence. Nov 6, 2012: Declaration of Dependence. R.I.P. America.)
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To: rightwingintelligentsia
Probably where 90% of the funding for the anti-fracking movement is coming from.

LOL. If you only knew.

24 posted on 07/29/2013 7:55:29 AM PDT by Carry_Okie (Islam offers choices: convert, submit, or die.)
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To: SeekAndFind

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.


25 posted on 07/29/2013 7:55:32 AM PDT by Buckeye Battle Cry (Audentis Fortuna Iuvat)
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To: Buckeye Battle Cry

The Bushes were real cozy with the House of Saud, as well.


26 posted on 07/29/2013 7:56:06 AM PDT by dfwgator
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To: SeekAndFind

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


27 posted on 07/29/2013 7:56:56 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: SeekAndFind

Pull the plug on the prince!


28 posted on 07/29/2013 7:57:00 AM PDT by jimfree (In November 2016 my 13 y/o granddaughter will have more quality exec experience than Barack Obama)
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To: dfwgator
It amazes me the way they treat their women, that the NOW gang hasn’t jumped on the Saudis, like all the liberals did against Apartheid-era South Africa.

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.

29 posted on 07/29/2013 7:57:11 AM PDT by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: rightwingintelligentsia

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.


30 posted on 07/29/2013 7:57:15 AM PDT by noprogs (Borders, Language, Culture)
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To: SeekAndFind
the House of Saud has already gotten its monies worth out of the obozo hussein and the Bush boys. However, a collapsed America will ensure the House of Saud will remain as partners with the world banking cartel.
31 posted on 07/29/2013 7:58:01 AM PDT by drypowder
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To: sauropod; Grampa Dave
Re the Saudis: Probably where 90% of the funding for the anti-fracking movement is coming from

correct assessment.

No, it's not. See the link at post 24.

32 posted on 07/29/2013 7:59:20 AM PDT by Carry_Okie (Islam offers choices: convert, submit, or die.)
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To: SeekAndFind

Just dam up the river that AllTheWeed is crying, and they could have electricity for 100 years.


33 posted on 07/29/2013 8:00:52 AM PDT by Migraine (Diversity is great -- until it happens to YOU..)
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To: SeekAndFind

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.


34 posted on 07/29/2013 8:00:58 AM PDT by Twotone (Marte Et Clypeo)
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To: SeekAndFind

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.


35 posted on 07/29/2013 8:01:49 AM PDT by PGR88
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To: Grampa Dave
It is not just the US fracking they are worried about. The process that was perfected here in ND and Texas is going to be used all over the world. Therefore, bringing oil and natural gas recovery into play that was not economically feasible before in many places.

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.

36 posted on 07/29/2013 8:02:50 AM PDT by woodbutcher1963
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To: dfwgator

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.


37 posted on 07/29/2013 8:03:49 AM PDT by unixfox
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To: SeekAndFind

Guess it sucks to be them.


38 posted on 07/29/2013 8:04:30 AM PDT by 2 Kool 2 Be 4-Gotten
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To: 2 Kool 2 Be 4-Gotten

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.


39 posted on 07/29/2013 8:05:37 AM PDT by dfwgator
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To: SeekAndFind

Saudi money has funded terrorism, islamism and mosque building around the world. Without oil, their only other exportable resource is sand.


40 posted on 07/29/2013 8:06:50 AM PDT by lurk
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