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Oil-rich Saudi prince sees fracking as a danger to his country
The Daily Caller ^ | 7/29/2013

Posted on 07/29/2013 5:36:46 PM PDT by markomalley

Prince Alwaleed bin Talal says the Gulf Arab Kingdom needs to reduce its reliance on crude oil, because fracking technology under development in other nations will result in less dependency on obtaining energy resources in his homeland.

Global demand for Saudi oil will experience further decline as the U.S. and other nations, including Great Britain and Canada, begin to find their own oil elsewhere.

Bin Talal, who is worth the U.S. equivalent of $20 billion, published an open letter to his government on Twitter, aimed to get the attention of his country’s oil minister, Ali al Naimi, Sky News reports.

He wrote the letter out of concern that the demand for oil from the Organisation of the Petroleum Exporting Countries (OPEC) is “in continuous decline,” and referred to the dangerous nature of Saudi Arabia’s dependence on the exportation of oil.

He also cited financial statistics, showing how much dependence his kingdom has on the oil industry.

“Our country is facing a threat with the continuation of its near-complete reliance on oil, especially as 92 percent of the budget for this year depends on oil,” he said.

Dan Kish, the vice president of the Institute for Energy Research, cited the prince’s reason for this fear as an economic concern, as well as the power of manipulation that “less reliable” countries exert over other nations when they have a monopoly on certain products.

“If we looked at energy as a weak spot, as a potential threat to national security and a reliance on others, this changes that,” he told The Daily Caller. “Many people find it liberating in a lot of ways.”

The technologies of fracking and horizontal drilling, which the U.S. and Canada did not have access to a few years ago, are allowing them to find energy at home, saving money, and keeping them more independent.

Kish also says there is a link between energy consumption and economic success, citing historical examples to explain national economic booms which occurred among countries consuming the highest amounts of energy, while also stressing that the costs of fracking are going down.

“Shale energy has been a game changer for economic growth,” Stephanie Catarino Wissman, executive director of the Associated Petroleum Industries of Pennsylvania, told TheDC. “Hydraulic fracturing provided $62 billion in additional government revenue in 2012 and will provide more than $111 billion in 2020. 1.7 million jobs are currently supported by unconventional oil and natural gas activity, and that number grows to some 2.5 million jobs in 2015, 3 million jobs in 2020, and 3.5 million jobs in 2035.”

If the U.S. continues with these practices, we may never need to obtain oil from the Middle East again, she said, adding, “With the right policies in place, America could meet 100 percent of its liquid fuel needs through safe, reliable North American sources by 2024.”

Kish stated that whenever a nation is dependent on another for an energy source, they are somewhat under the heel of that nation — something that plays a significant role in their economy.

On finding an energy source at home, Kish said, “That’s independence, that’s liberty.”


TOPICS: Business/Economy; Extended News; Government
KEYWORDS: arabia; carbontax; energy; fracking; kenyanbornmuzzie; oil; opec; saudiarabia

1 posted on 07/29/2013 5:36:46 PM PDT by markomalley
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To: markomalley

No crap, Sherlock!


2 posted on 07/29/2013 5:37:58 PM PDT by jdsteel (Give me freedom, not more government.)
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To: markomalley

One trick camel.


3 posted on 07/29/2013 5:38:43 PM PDT by NowApproachingMidnight (Civilizations die from suicide, not murder.)
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To: markomalley

Be a shame for all the ME countries to revert to third world crapholes. Without a revenue stream it would take the moslems about 2 minutes.


4 posted on 07/29/2013 5:39:40 PM PDT by bigheadfred (INFIDEL)
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To: markomalley
Boo f'n Hoo
5 posted on 07/29/2013 5:40:03 PM PDT by tomkat
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To: markomalley

Oh well...


6 posted on 07/29/2013 5:40:30 PM PDT by Dallas59 (Obama: The first "White Black" President.)
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To: markomalley

Which is why the left is so against fracking. It is the Marxist/Islamist alliance at play...


7 posted on 07/29/2013 5:41:36 PM PDT by piytar (The predator-class is furious that their prey are shooting back.)
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To: markomalley

Get ready to see paid off US politicians do all they can do to stop it.


8 posted on 07/29/2013 5:42:07 PM PDT by MNDude (The system worked!)
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To: markomalley

Hey, Olliweed, go frac yoursself.


9 posted on 07/29/2013 5:42:52 PM PDT by stboz
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To: markomalley

Maybe they can become a vacation hotspot. I’m sure global tourists won’t mind all the Shariah law stuff.


10 posted on 07/29/2013 5:44:35 PM PDT by RC one
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To: markomalley

Awww.., too bad that you and OPEC are going to get FRACKED.


11 posted on 07/29/2013 5:46:22 PM PDT by SandRat (Duty - Honor - Country! What else needs said?)
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To: jdsteel

Frack Baby Frack!


12 posted on 07/29/2013 5:47:11 PM PDT by zencycler
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To: markomalley
Expect Saudi money to be flowing freely to anti-fracking politicians.
13 posted on 07/29/2013 5:47:13 PM PDT by KarlInOhio (This message has been recorded but not approved by Obama's StasiNet. Read it at your peril.)
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To: markomalley

This is the real source of the anti Fracking groups.

That and it will destabilize the Middle East if we stop buying their oil.


14 posted on 07/29/2013 5:50:41 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: KarlInOhio
Expect Saudi money to be flowing freely to anti-fracking politicians.

I'm sure it has been all along, KarlInOhio.

15 posted on 07/29/2013 5:52:15 PM PDT by Standing Wolf
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To: markomalley

not necessarily if it brings the price down, demand may go up.


16 posted on 07/29/2013 5:57:33 PM PDT by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: markomalley

While were at it, how about build enough nuke and coal plants to take the base load and only use natural gas to cover peak load.


17 posted on 07/29/2013 5:59:01 PM PDT by matt04
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To: bigheadfred

I won’t shed a tear if they go back to roving tribes eating the nearest camel to drop dead and fighting over damp spots in the sand.


18 posted on 07/29/2013 5:59:51 PM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: markomalley

“Bin Talal, who is worth the U.S. equivalent of $20 billion, published an open letter to his government on Twitter, aimed to get the attention of his country’s oil minister, Ali al Naimi....”

He had to use Twitter, because it’s almost impossible for multi-billionaire princes to get anyone’s attention otherwise.


19 posted on 07/29/2013 6:04:47 PM PDT by USFRIENDINVICTORIA
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To: markomalley
That's why the Saudis installed Ubama as our pResident.

Ubama and his EPA will find a way to shut it all down.

20 posted on 07/29/2013 6:10:28 PM PDT by E. Pluribus Unum (Who knew that one day professional wrestling would be less fake than professional journalism?)
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To: RC one
I’m sure global tourists won’t mind all the Shariah law stuff.

Or the rape taxis.

21 posted on 07/29/2013 6:11:29 PM PDT by E. Pluribus Unum (Who knew that one day professional wrestling would be less fake than professional journalism?)
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To: jdsteel

Let them eat their oil. The way they have treated us, the danger to they country they fund and the cost to the American taxer never concerned them before.


22 posted on 07/29/2013 6:18:58 PM PDT by edcoil (Something wonderful is going to happen today!)
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To: markomalley; All

NOTE that Alwaleed bin Talal is part owner of Fox News Channel (its parent NewsCorp).....I sense that Fox News eventually will start attacking Fracking...like the rest of the Liberal Globalist Media

Wonder how much $$$ Fox News part owner will dump into the EcoWhacko movement....just as main owner Rupert Murdoch has been funding campaign events for Hillary Clinton


23 posted on 07/29/2013 6:24:36 PM PDT by SeminoleCounty (Difference between George Zimmerman and Al Sharpton is that Sharpton woulda let honky family burn)
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To: markomalley

Of course he does. That’s why Hollywood uberlefty Matt Damon had to make a UAE-funded movie about how “bad” fracking is.


24 posted on 07/29/2013 6:31:31 PM PDT by ReformationFan
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To: markomalley

The Prince sees “Fracking”as a “Danger”to his country?When are these Stupid,A$$H*LES going to wake up and see OBAMA as a”Danger”to this country??????????????????


25 posted on 07/29/2013 6:33:46 PM PDT by bandleader
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To: markomalley

oops , the world found out ,if you fire an arrow into the air and where it lands there’s oil ,D’oh


26 posted on 07/29/2013 6:45:02 PM PDT by molson209
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To: markomalley

“....America could meet 100 percent of its liquid fuel needs through safe, reliable North American sources by 2024.....”

Sure, but not with democrats in power.


27 posted on 07/29/2013 6:45:27 PM PDT by Gator113
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To: markomalley

Don’t worry, Prince Alwaleed - Obama would never let that happen.


28 posted on 07/29/2013 7:06:46 PM PDT by PGR88
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To: redgolum
That and it will destabilize the Middle East if we stop buying their oil.

Don't take this personal Redgolum, but Isn't "destablized Middle East" an oximoron like Jumbo Shrimp or Military Intelligence?

How much more fubar'd could it get, I hate to get all Ron Paul on this topic, but I have had enough, support Israel and leave everything else including the embassy's, it is all way to dysfunctional...

29 posted on 07/29/2013 7:07:09 PM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....th)
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To: redgolum
That and it will destabilize the Middle East if we stop buying their oil.

And it will put a lot of local strip clubs out of business, since many of them rely on Saudi customers.

30 posted on 07/29/2013 7:08:23 PM PDT by dfwgator
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To: markomalley

McStain sabotages fracking in 3, 2, 1....


31 posted on 07/29/2013 7:20:07 PM PDT by LyinLibs (If victims of islam were more "islamophobic," maybe they'd still be alive.)
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To: markomalley

And this is exactly why 0bama is against it. It isn’t the ‘Green energy’ tribe he’s concerned with; it’s the Saudi’s that he is beholden to.


32 posted on 07/29/2013 7:24:07 PM PDT by SueRae (It isn't over. In God We Trust.)
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To: markomalley

I’m sure that sand has some value.


33 posted on 07/29/2013 7:39:35 PM PDT by Mark (Obama is more confused than a hungry baby in a topless bar)
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To: markomalley












34 posted on 07/29/2013 7:53:50 PM PDT by LyinLibs (If victims of islam were more "islamophobic," maybe they'd still be alive.)
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To: markomalley

For those who want to see a short 6 minute video showing how horizontal drilling and fracking is done Northern Gas and Oil has done a great video.

This includes a piece on how groundwater contamination is avoided:

http://www.northernoil.com/drilling-video

Knowledge is power, keep the link and pass it on.


35 posted on 07/29/2013 8:20:10 PM PDT by Balding_Eagle (When America falls, darkness will cover the face of the earth for a thousand years.)
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To: markomalley
Then why isn't Saudi Arabia applying fracking to their own oilfields? This could revive supposedly "tapped out" oilfields and tremendously extend the life of oilfields all over Saudi Arabia.

I also think that Saudi Arabia fears that Iran could get on the fracking bandwagon and suddenly open up so much oil and natural gas in that country the Iranians could vastly exceed Saudi oil output for many decades in the future.

36 posted on 07/29/2013 8:43:02 PM PDT by RayChuang88 (FairTax: America's economic cure)
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To: taildragger

As their societies continue to implode, they will lash out in even more violent ways.

If they have no hope, there is no reason for say, Iran, not to start a theater wide war. Or send guys Bio or Chem weapons into the major cities.

They aren’t even that crazy yet.


37 posted on 07/30/2013 4:19:33 AM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: bigheadfred

mebee they won’t be able to cool their huge snow skiing facilities in the middle of the dessert to the needed temperature.....


38 posted on 07/30/2013 5:49:42 AM PDT by stickywillie (how come there are no father-in-law jokes?)
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To: markomalley

The link below will take Freepers to the many excellent articles on Fracking and how/why the enviro whackos, Opecker Thug supporters and rats worse fear is the coming of fracking here and around the world.

http://www.freerepublic.com/tag/fracking/index


39 posted on 07/31/2013 8:11:20 AM PDT by Grampa Dave (Having a discussion with liberals is like shearing pigs. Lots of squealing & little fleece!)
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