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 ...
Brings a tear to my eye.
that’s just what I was going to say. Alwaleed needs to write some more big checks to the Sierra Club and Greenpeace.
Quoting the prince, “The third page calls on the government to decrease its dependence on oil and start investing in alternative energy sources like solar.”
Sounds like prince alwaleed caught something from a goat that has scrambled his brain.
Shale is a threat but we have not yet seen the decline curves in shale. Once drilling stops, the decline looks like 35% per year. Decline rates on individual wells confirms this as does modeling cut-off of drilling.
it is okay with the NOW crew to treat your family however you want if you are not white
Just threaten Obama with a leak of receipts for his tuition bills. That should do it.
This has win-win written all over it for the U.S. We become oil independent, we pull all of our bases out of the middle east and reposition where our new National Interests lie. I suggest Asia and believe it or not somewhere close to the Arctic circle. Perhaps more bases in Alaska. We sell these clowns more and more planes and tanks as they will invariably look to blow one another up because we are no longer there to hold them back from doing it.
Good! Let the bastards drink their oil!
ince they were the Illegal’s supporters and sponsors at Harvard Law, that’s also where the Illegal’s opposition to fracking is coming from.
It is not fiction. Every major ivy league school in US has a well funded and very large ME Study Center funded by Gulf and Saudi Arabia. Every American gov official and elected official have an opportunity to become a member of a Arab sovereign investment fund making lucrative salaries for very little work. Ever since 1967 Arabs strategists always wondered how Jews only 3 percent of US population can sway the US to be pro Israel even though the Arabs offer greater strategic advantage and resources during Cold War. Eventually the Arabs figured it out, money and lawyers. Jews used it effectively in US politics now the Arabs have also mastered the process. Today as we speak, Arabs are about 3 percent of US population. In future they will outnumber American Jews. In the meantime they are able to match Jewish money and influence, but in the future they will have the ability to outvote the Jews in the US. It will be interesting to see how the Dems will handle these two important members of their political coalition. More important how the Jews will handle a Dem party that will become more and more pro Arab and anti Israel. Last DNC Convention Israel was booed by delegates. DNC chair ignored the voice vote and proclaimed the pro Israel platform passed. In ten years, the pro Israel platform will be ripped from the DNC and a new one asking the US to help the Arabs to drive the Jews into the sea.
That’s right Alwaleed you dirty diaperhead.
But don’t worry, I’m sure Obamatollah will sabotage our fracking industry.
Environmental groups go around the world attacking oil projects, any country you can think of, and file suits in courts all over the world trying to shut off their financing.
But they never go after OPEC projects.
At a certain point it becomes clear that they only go after non-OPEC oil.
Zactly. Anyone with "billionaire" in front of his name will get no sympathy from me. He goes on to say that Fracking will crush the Saudi economy, but his personal economy will be unfazed. Boo-hoo.
Good luck exporting that solar energy. The most amazing discoveries in solar energy would only provide profit until everyone else reverse engineered the discover (about 15 minutes).
If NOW was about women’s rights and opportunity they would, but they aren’t, so they don’t.
The biggest challenge retired politicians have is laundering their money back into daylight. Hence, their foundations, speaking tours, multi-million dollar advances for books no one reads, retainers from companies they do no work for.
When a guy who has never had a normal paycheck leaves office and has millions, or hundreds of millions in the bank that we know of, you see he has special accounting challenges normal people don't have.
Really? See post 9.
Now you know why the "Bower in Chief" curtsys to the Saudis.
From his lips to God’s ears...
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