PRINCE ALWALEED: Fracking Is Going To Crush The Saudi Economy If Nothing Is Done
http://www.freerepublic.com/focus/news/3048566/posts
Saudi Arabias only avoided budget deficits in 2010 and 2011 because of higher-than-forecast oil prices and output. In 2011, Saudi Arabia announced two fiscal packages totalling 480 billion riyals (Dh470.1bn), or near 25 per cent of GDP at 2011 prices, Ms Sen points out, putting a heavy burden on its oil sector.
The growth of both US and Iraqi production, at least on paper, threatens the kingdoms share of the market just as its own rising domestic consumption reduces its exports, said Ms Sen. Even if the question of how to accommodate Iraq was avoided at the Vienna meeting, it cannot be kept under wraps for much longer.
probably the reason why Saudi is financing AQ in Iraq and Syria and environmentalist in the US