Skip to comments.Saudi prince...Fracking could put OPEC out of Business
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 ...
“Saudi prince...Fracking could put OPEC out of Business”
Be still my beating heart!
In order to diversify out of oil, they have to teach Saudis to do something for themselves.
Who do you think is funding the anti-fracking groups?
Youbetchurass, ol' Prince boy.
Which is why their bought and paid for President Obama (paid for his college and God only knows what else) opposes fracking.
They are going to diversify and start selling sand.
meantime they support the Muslim Brotherhood.
Yeah, but in the meantime the Muzzie, uh, fracking, if you get my drift, is putting Western Civilization out of business.
“Saudi prince...Fracking could put OPEC out of Business”
Let’s git ‘er done.
Uhhhh, you got two billion customers in China and India. You’ll be fine.
I hope this does not get pulled, but frack you, Saudi Arabia.
We can only hope.
So the Saudi prince will be funding the left.
And what happens to the price on the vertical side when the demand curve shifts left?
Allahu Akbar! if that’s the case.
Think they'll be good sports about it when their investment doesn't pay off?
He’s paying off just fine...except that the Saudis are worried about his backing of the MB and Morsi in Egypt.
It won’t put them out of business. It will just lower their profit margin.
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.
one thing that hasn’t been discussed is how this is going to drive the price of oil down, down, down.
Our purchased politicians won’t let anything upset the status quo apple cart. Wouldn’t want the Saudi-wahabis to be inconvenienced.
This administration has been financed by and is owned by two factions: the domestic Communists and the Muslim Brotherhood.
The one owns our domestic policy; the other our foreign policy.
For the one, it has been an effort of a lifetime, culminating in the dream of absolute power. For the other, it has been both a commercial venture...and a serious religious undertaking.
How may these factions be expected to react when, as and if, it appears that they will lose their power in 2016?
Sand art is always an option.
That’s the idea, Big Guy....
OH NOS....They getting into the FRACKING business....
Too bad they don't have the water to go with it.
“.....how this is going to drive the price of oil down, down, down.”
Perhaps down some, but unless we get the Left the ‘H’ out of our government AT ALL LEVELS, they will still maintain their assault on fossil fuels, and cause grief to the refineries, or something in the process to artificially inflate the prices. Anything they do to the oil companies WILL BE passed on to we the consumers.
The only way to ever see sanity restored is to make the Left irrelevant as they are trying to make America today.
There’s always tourism.
“Which is why their bought and paid for President Obama (paid for his college and God only knows what else) opposes fracking.”
This is where someone should post the picture of Bammy bowing.
To fracking bad King Saudi
Great idea, my thought would be to tow in icebergs to be used to grow cranberries in bogs. That would work out well there.
King Saudi ? there’s hope in renewable fuels such as solar and wind as we are told by the liberal progressives.
Not to mention LENR.
for example: Brillouin
how is this going to drive the price of oil down?....the law of supply & demand always works...it worked @ the end of Bush’s presidency, when we just started drilling again.
those rug heads better start salting their profits away; stop snow skiin’ in that mammoth double wide monstrosity in the desert, for one thing
Like maybe get jobs...at McDonalds.
The Democrats didn’t have in place then what they have now.
NOW they have the WH, Still have the Senate, and you might as well say they have the House with the complicit RINO population inhabiting that arena. They call the shots with their control over the Leftist entrenched bureaucracies such as the EPA, Dept. of Energy, Resources, etc.
As I said the prices will go down, but not by much as they will throw every obstacle possible in the way to prevent the U.S. from becoming fossil energy affluent.
Of course it can - why do you think liberals are screaming themselves red in the face that it is pollutinggroundwaterccausingearthquakespoisoningfarmsmakinglandslides?
The day we no longer need the towelhead’s oil will be the greatest day in my lifetime. Then we can finally drop the pretense of backing Arab terrorists against Israel.
well, we shall see what happens to gas prices, when we have no where to accomodate more supply
That’s what will bring the prices down somewhat, but it will be sold, already being sold, and exported overseas. Oil Industry is a World industry, not just an American entity.
there’s going to be a glut of oil all over the world....that’s just the point. frackin’ is happnin’ everywhere. a few years ago, they said they are going to be able to get it out of the ground in North Dakota for $16 a barrell, and that’s probably more expensive than other places with cheaper labor.
You have a good point, but my point is, and has been history tells us the Leftists will put every effort towards denying our Nation cheap fossil energy, and unless the World much less the U.S. awakens, and removes the Leftists, and their perspectives, their laws, from influence we will never see anything less than artificial pricing of our energy. They will control us by their influence, or by their dictate should we fail to remove them from influence.
Can’t happen soon enough!!!
They can go back to tents and screwing camels!!
>>>The country that could put OPEC out of business is Russia. Russian geologists know there are HUGE reserves of oil and natural gas waiting to be tapped in eastern Siberia, and once those come online in the next 15-20 years, that will officially be the end of OPEC. And Russia will then wield the world’s most powerful economic weapon: the ability to use oil and natural gas exports as an instrument of diplomacy.<<<
Don’t worry! Green peace is already there to save the bears.
BTW, Siberia was never competitive with Arab lands in terms of costs of production. That is why low oil prices were a death sentence for Russian energy businesses.
Just browse YouTube to look how they are living and working in Siberia.
There was a reason why they’ve used this location as a penal colony for centuries.
They have to pay truck driver some $20,000 a week just to keep one there in Eastern Siberia.
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.