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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: Fee

YES!!!! You are very correct the money connection between al Saud and D.C. is not fiction. And sadly, we are getting deeper under the bed covers with the people who want to dominate or simply kill us.


61 posted on 07/29/2013 8:41:40 AM PDT by Texaspeptoman (Even cannibals get fed-up with people sometimes...!)
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To: Kenton

PLus they are funding all the mosques that are being built in the US.
They long since bought and paid for many of our politicians. Clinton won’t reveal his donors..wonder why?


62 posted on 07/29/2013 8:42:58 AM PDT by Oldexpat
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To: dfwgator

Apartheid whites were viewed as being pro-Western civilization, by themselves and their enemies, whether that perception was accurate or not.

Their enemies were in general anti-WC, and have now chosen to ally themselves with Islam and Islamists, who really are anti-WC. Being opposed to Western Civ is a much more core issue with feminists than supporting individual women actually being brutalized in non-western or (especially) anti-western societies.


63 posted on 07/29/2013 8:44:24 AM PDT by Sherman Logan
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To: jimfree

Oh geez.....a towelhead who gets it! Got to put the kibosh on ol’ Prince Alwaleed Skyhook.

Have the Israeli government officially thank him for his valuable support of the Jewish state through his many dealings with Mossad!


64 posted on 07/29/2013 8:46:32 AM PDT by elcid1970 ("The Second Amendment is more important than Islam.")
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To: SampleMan

As El Rushbo says, “Show me the solar-powered Boeing 747’s!”


65 posted on 07/29/2013 8:48:07 AM PDT by elcid1970 ("The Second Amendment is more important than Islam.")
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To: The_Victor

My first thought.


66 posted on 07/29/2013 8:48:47 AM PDT by Eagles6 (Valley Forge Redux)
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To: sauropod

It ain’t 90%.


67 posted on 07/29/2013 8:55:14 AM PDT by Carry_Okie (Islam offers choices: convert, submit, or die.)
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To: SeekAndFind

Frack you, Saudi!


68 posted on 07/29/2013 8:58:38 AM PDT by bk1000 (A clear conscience is a sure sign of a poor memory)
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To: SeekAndFind

If they can get their Muslim buddy Obama to shut fracking down using the EPA, then they don’t have a problem.


69 posted on 07/29/2013 9:00:06 AM PDT by ThePatriotsFlag ( EVERY DIME Obama Spends is given to him by the Republicans in the House.)
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To: SeekAndFind
Fracking Is Going To Crush The Saudi Economy

Couldn't happen to a more deserving bunch!

70 posted on 07/29/2013 9:00:19 AM PDT by JimRed (Excise the cancer before it kills us; feed &water the Tree of Liberty! TERM LIMITS, NOW & FOREVER!)
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To: SeekAndFind

Frack Em


71 posted on 07/29/2013 9:05:42 AM PDT by Old Yeller (Goodbye America. Glad the majority of my years were spent during the good days.)
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To: SeekAndFind

Hey Saudi! You’re FRACKED!

BWAhahahaha


72 posted on 07/29/2013 9:05:47 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

Had we fought the War On Terror “militarily” to begin with, we wouldn’t be hearing anything from these saudi sheetheads as they would no longer be available for comment. And their oil would be ours.


73 posted on 07/29/2013 9:08:22 AM PDT by onedoug
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To: Carry_Okie

The Saudi’s and the Rockefellers are bedmates.


74 posted on 07/29/2013 9:12:03 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: E. Pluribus Unum
If fracking is prohibited, Texas, Oklahoma, and Louisiana will nullify these laws on the state level. North Dakota as well, and maybe West Virginia and Kentucky. Then the next question arises: if Obama pushes the issue, will the state governors blink as Orval Faubus, Ross Barnett, and George Wallace did when Eisenhower and Kennedy did when they used the Army and federalized National Guard to enforce school integration? Will the Army rank and file obey orders to shut down the oil and natural gas fields? Back in the 1950s and 1960s, they did. Even General Edwin Walker, who was pro-segregation, enforced the law at Central High School in Little Rock. But we are in a different era now. We are not in the immediate afterglow of World War II or in the middle of a Cold War.
75 posted on 07/29/2013 9:13:15 AM PDT by Wallace T.
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To: Fee

Hate to tell you this, but the Jews do not control the Democrats. If they did, we would not be broke.


76 posted on 07/29/2013 9:18:30 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: SampleMan

Sand-Nazi’s going to compete with the Chinese in industry...

Getting popcorn...


77 posted on 07/29/2013 9:19:50 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: marron

Good point.


78 posted on 07/29/2013 9:21:12 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: rightwingintelligentsia

And let’s not forget the funding for the construction of the many mosques in the US.


79 posted on 07/29/2013 9:31:02 AM PDT by 353FMG ( I do not say whether I am serious or sarcastic -- I respect FReepers too much.)
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To: SeekAndFind

Eat sand there a hole


80 posted on 07/29/2013 9:33:37 AM PDT by Joe Boucher ((FUBO) ( Hey Rubio, eat pooh pal))
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