PRINCE ALWALEED: Fracking Is Going To Crush The Saudi Economy If Nothing Is Done

Business Insider ^ | 07/29/2013 | Rob Wile

[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.

[Texaspeptoman]

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.

[Oldexpat]

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?

[Sherman Logan]

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.

[elcid1970]

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!

[elcid1970]

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

[Eagles6]

My first thought.

[Carry_Okie]

It ain’t 90%.

[bk1000]

Frack you, Saudi!

[ThePatriotsFlag]

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

[JimRed]

Fracking Is Going To Crush The Saudi Economy

Couldn't happen to a more deserving bunch!

[Old Yeller]

Frack Em

[American in Israel]

Hey Saudi! You’re FRACKED!

BWAhahahaha

[onedoug]

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.

[American in Israel]

The Saudi’s and the Rockefellers are bedmates.

[Wallace T.]

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.

[American in Israel]

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

[American in Israel]

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

Getting popcorn...

[American in Israel]

Good point.

[353FMG]

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

[Joe Boucher]

Eat sand there a hole