Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Prince Alwaleed sees shale threat to Saudi economy
MarketWatch ^ | July 29, 2013 | By Summer Said

Posted on 07/29/2013 6:29:56 AM PDT by Oldeconomybuyer

Saudi Arabian billionaire Prince Alwaleed bin Talal has warned that the kingdom's petroleum-dependent economy is increasingly vulnerable as rising production of U.S. shale oil and gas decreases global demand for crude from members of the Organization of the Petroleum Exporting Countries.

In an open letter dated May 13 addressed to Saudi Oil Minister Ali al-Naimi and several other ministers, said the kingdom won't be able to fulfill its plan to increase its crude production capacity to 15 million barrels because of the shale threat.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Politics/Elections
KEYWORDS: alwaleedbintalal; bintalal; energy; fracking; oil; opec; princealwaleed; saudiarabia
Navigation: use the links below to view more comments.
first 1-2021-4041-44 next last

1 posted on 07/29/2013 6:29:56 AM PDT by Oldeconomybuyer
[ Post Reply | Private Reply | View Replies]

To: Oldeconomybuyer

What a potential tragedy.


2 posted on 07/29/2013 6:31:06 AM PDT by Colonel Kangaroo
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Aside from oil, they’ve got nothing. If the price of oil drops, you’ll see a decline in global terrorism. And that’s a good thing!


3 posted on 07/29/2013 6:32:35 AM PDT by Cowboy Bob (Democrats: Robbing Peter to buy Paul's vote.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

ha ha

We won’t be hostage to Saudi oil interests any more, they can go back to whatever it was they were up to before we made them rich


4 posted on 07/29/2013 6:32:51 AM PDT by yldstrk (My heroes have always been cowboys)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer
Well, boohoo. Did they think the Oil riches would last forever?
The economic decline is taking a bigger bite out of the Saudi oil business than a little bit of healthy competition.
The Saudis should have saved for a rainy day and made contingency plans a long time ago.

5 posted on 07/29/2013 6:37:10 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

And the Saudi’s thrall in the White House knows what he must do.


6 posted on 07/29/2013 6:37:39 AM PDT by Chewbarkah
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer
F U Alwaleed bin Talal
7 posted on 07/29/2013 6:38:10 AM PDT by ßuddaßudd (>> F U B O << "What the hell kind of country is this if I can only hate a man if he's white?")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Someday a researcher will come up with some new form of energy that will render crude oil useful only for petrochemicals. The ME will dry up and blow away.

I hope that that researcher turns out to be a Jewish scientist.


8 posted on 07/29/2013 6:38:27 AM PDT by Bobalu (It is not obama we are fighting, it is the media.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

The Saudi’s assessment, is the same as obama’s that’s why he opposes any form of oil production in the U.S.


9 posted on 07/29/2013 6:38:34 AM PDT by PoloSec ( Believe the Gospel: how that Christ died for our sins, was buried and rose again)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

He’s just figuring this out now? Lucky thing he’s a prince because otherwise things might go badly for him in life.


10 posted on 07/29/2013 6:38:43 AM PDT by vbmoneyspender
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

11 posted on 07/29/2013 6:39:24 AM PDT by rochester_veteran (All that is necessary for the triumph of evil is for good men to do nothing.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Since the prince was the Illegal’s prime sponsor and supporter at Harvard Law and appears to have done a very good job of protecting him from serious criticism from Fox News, being one of the major share holders ion News Corp., it’s clear the Illegal is doing all he can to repay him by sabotaging our domestic energy industry. Ain’t it a hoot how Fox never manages to make the connection between the Illegal’s “energy policy” and the prince?


12 posted on 07/29/2013 6:41:26 AM PDT by libstripper (A)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Just who do ya think is FUNDING all the anti-fracking BS, anyway????

$audi money$, that’$ who!


13 posted on 07/29/2013 6:45:22 AM PDT by Flintlock ("The redcoats are coming" -- TO SEIZE OUR GUNS!!--Paul Revere)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cowboy Bob
Aside from oil, they’ve got nothing. If the price of oil drops, you’ll see a decline in global terrorism. And that’s a good thing!

The Russians, who depend on NG and oil for much of their foreign exchange, will also be un-pleased.

14 posted on 07/29/2013 6:47:27 AM PDT by PapaBear3625 (You don't notice it's a police state until the police come for you.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: PapaBear3625

I know! The ruble fluctuates dramatically with the price of oil.


15 posted on 07/29/2013 6:51:42 AM PDT by Cowboy Bob (Democrats: Robbing Peter to buy Paul's vote.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Oldeconomybuyer

So......who is funding the anti-fracking mob?


16 posted on 07/29/2013 6:57:24 AM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer
Who do you think is paying for all the anti-fracking propaganda and hiring all the activists.
17 posted on 07/29/2013 6:59:21 AM PDT by mountainlion (Live well for those that did not make it back.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BitWielder1

The Saudis have been, at least officially, preparing for a post-petroleum economy for about forty years. The time horizon was probably well into this century before they would actually have to work for a living. Regardless of what the U.S. does, they will sitting on a lake of black gold for a hundred years. At least with the U.S. as a customer, they might be somewhat constrained. Now they will sell to India, Pakistan, China and Europe. It will be interesting to see how long it takes before Mecca is under Chinese control.


18 posted on 07/29/2013 6:59:52 AM PDT by Lonesome in Massachussets (Doing the same thing and expecting different results is called software engineering.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Oldeconomybuyer

What would be nice in the meantime, is if the underground formations that Israel is drilling for, come in huge. This would change the complexion of the ME substantially! The Saudis can return to their ‘ships of the desert’ caravans and their moon god.


19 posted on 07/29/2013 7:12:39 AM PDT by A Formerly Proud Canadian (I once was lost but now I'm found; blind but now I see.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

If the US built the Keystone pipeline to bring not only Canadian, but North Dakota crude to US refineries and opened up drilling in areas currently blocked because of pandering to the environmental whackos, the US could not only be oil self sufficient, but a significant exporter. This would cause world oil prices to tumble and leave the Saudis with nothing more to export than radical Islam and bring an economic boom to the US. Of course with our Muslim in Chief president pandering to every whacko group this won’t happen.


20 posted on 07/29/2013 7:12:42 AM PDT by The Great RJ (construction)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-44 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson