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Saudi prince...Fracking could put OPEC out of Business
Examiner,com ^
| July 29th, 2013
| Steven H Ahle
Posted on 09/14/2013 6:44:29 PM PDT by Red Statements
Prince Alwaleed bin Talal said that fracking in the US has lessened demand for their oil, and that they need to begin to find other income sources. In a letter to oil minister, Ali al Naimi and other top government officials, Alwaleed said that fracking was responsible for the declining demand for oil from OPEC.
Alwaleed recommends that the oil rich country, should diversify immediately before the impact gets to be out of hand. He says that the Saudi's dependence on oil income is, "a truth that has really become a source of worry for many".
(Excerpt) Read more at examiner.com ...
TOPICS: Issues
KEYWORDS: alwaleedbintalal; bhoenergy; blogpimp; carbontax; drilling; energy; energyindependence; fracking; houseofsaud; hydrocarbons; kenyanbornmuzzie; methane; naturalgas; oil; opec; petroleum; royals; saudiarabia; talal
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To: Red Statements
“Saudi prince...Fracking could put OPEC out of Business”
Be still my beating heart!
2
posted on
09/14/2013 6:48:29 PM PDT
by
Mastador1
(I'll take a bad dog over a good politician any day!)
To: Red Statements
Funny thing is, they have so many foreign workers with so much knowledge that if the oil work dries up they will leave and drain the country of its ability to produce anything.
In order to diversify out of oil, they have to teach Saudis to do something for themselves.
To: Red Statements
Who do you think is funding the anti-fracking groups?
4
posted on
09/14/2013 6:51:03 PM PDT
by
PAR35
To: Red Statements
Fracking could put OPEC out of BusinessYoubetchurass, ol' Prince boy.
5
posted on
09/14/2013 6:53:42 PM PDT
by
stboz
To: Red Statements
Which is why their bought and paid for President Obama (paid for his college and God only knows what else) opposes fracking.
6
posted on
09/14/2013 6:53:48 PM PDT
by
RoosterRedux
(The only true wisdom is in knowing you know nothing -- Socrates)
To: Red Statements
They are going to diversify and start selling sand.
meantime they support the Muslim Brotherhood.
7
posted on
09/14/2013 6:54:31 PM PDT
by
Venturer
( cowardice posturing as tolerance =political correctness)
To: Red Statements; a fool in paradise
Yeah, but in the meantime the Muzzie, uh, fracking, if you get my drift, is putting Western Civilization out of business.
8
posted on
09/14/2013 6:57:20 PM PDT
by
Revolting cat!
(Bad things are wrong! Ice cream is delicious!)
To: Red Statements
“Saudi prince...Fracking could put OPEC out of Business”
Let’s git ‘er done.
9
posted on
09/14/2013 6:58:12 PM PDT
by
rockinqsranch
(Dems, Libs, Socialists, call 'em what you will. They ALL have fairies livin' in their trees.)
To: Mastador1
Uhhhh, you got two billion customers in China and India. You’ll be fine.
10
posted on
09/14/2013 6:58:22 PM PDT
by
Vendome
(Don't take life so seriously, you won't live through it anyway)
To: Red Statements
I hope this does not get pulled, but frack you, Saudi Arabia.
To: Red Statements
“Saudi prince...Fracking could put OPEC out of Business”
We can only hope.
12
posted on
09/14/2013 6:59:22 PM PDT
by
Parmy
To: Red Statements
So the Saudi prince will be funding the left.
13
posted on
09/14/2013 6:59:45 PM PDT
by
bmwcyle
(People who do not study history are destine to believe really ignorant statements.)
To: Red Statements
And what happens to the price on the vertical side when the demand curve shifts left?
14
posted on
09/14/2013 7:01:49 PM PDT
by
navyblue
(<u>)
To: Red Statements; All
Allahu Akbar! if that’s the case.
15
posted on
09/14/2013 7:03:36 PM PDT
by
x1stcav
("The past is a foreign country: they do things differently there.")
To: RoosterRedux
Which is why their bought and paid for President Obama (paid for his college and God only knows what else) opposes fracking. Think they'll be good sports about it when their investment doesn't pay off?
16
posted on
09/14/2013 7:05:16 PM PDT
by
MulberryDraw
(That which cannot be paid, won't be paid.)
To: MulberryDraw
He’s paying off just fine...except that the Saudis are worried about his backing of the MB and Morsi in Egypt.
17
posted on
09/14/2013 7:06:50 PM PDT
by
RoosterRedux
(The only true wisdom is in knowing you know nothing -- Socrates)
To: RoosterRedux
It won’t put them out of business. It will just lower their profit margin.
18
posted on
09/14/2013 7:09:49 PM PDT
by
jimpick
To: Red Statements
Ya think?? That’s why the Obama Administration is so against fracking. They are using the EPA as a weapon to destroy our energy independence. Shutting down coal mines and putting millions out of work. Shutting down refineries, and not allowing new ones to be built. Dithering for years over the Keystone Pipeline, which should have been completed by now. The Saudis own Obama. They paid big money to put him where he is right now, and he owes them his soul.
19
posted on
09/14/2013 7:10:21 PM PDT
by
jespasinthru
(Proud member of the Vast Right-Wing Conspiracy.)
To: rockinqsranch
one thing that hasn’t been discussed is how this is going to drive the price of oil down, down, down.
.
.
.
20
posted on
09/14/2013 7:13:59 PM PDT
by
stickywillie
(how come there are no father-in-law jokes?)
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