Posted on 07/30/2013 4:31:51 PM PDT by raptor22
Energy: A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed in the U.S. and spreading around the world. OPEC is now caught between Riyadh and a hard place.
Indicative of the panic rippling through the Organization of Petroleum Exporting Countries over the U.S.-led fracking boom, billionaire Saudi Prince Alwaleed bin Talal says his Gulf Arab kingdom needs to reduce its reliance on crude oil and diversify its revenues, lest the era of gold-plated toilets come to an end.
In an open letter to his country's oil minister Ali al-Naimi and other government heads, published on Sunday via his Twitter account, Prince Alwaleed said demand for oil from OPEC member states was "in continuous decline" as a result of the technology that has unleashed vast deposits of oil and natural gas worldwide.
In a report earlier this month, OPEC forecast demand for its oil in 2014 would average 29.61 million barrels per day (bpd), down 250,000 bpd from 2013. It cited rising non-OPEC supply, especially from the U.S.
(Excerpt) Read more at news.investors.com ...
The muslim oil barons have started hiring Hollywood actors such as Matt Damon and Krasinski.
They already own Obama and The Sierra Club.
Only right wing NeoCons want the US trroops out of the Middle East.
If you follow the money, that worked for a while.
Abu Dhabi’s UAE but it’s close enough...
He is probably funding all the nutcakes that are trying to stop it. How satisfying would that be to produce so much energy here we no longer had to have anything to do with those people. They have no other source of wealth. They produce nothing that isn’t sucked out of the ground. They don’t create anything. They have not diversified. Ending the transfer of our wealth to their pockets would be so gratifying.
Who do you think funds the anti-fracking whackos?
I'm serious. Gasland was funded by Venezuelan interests, and Promised Land was funded (at least in part) by a company wholly funded by the United Arab Emirates.
I love the threat of it affecting their revenues. It means they will have less money to fund global terrorism and be late in meeting their immediate objectives.
Watch them put more pressure on their point man in our White House.
Must be that sense of public service and concern for the environment.
Thanks raptor22.
Add Soros and Petrobras to the funders. We even loaned them money to do deep drilling off brazil.
Well, it’s hard to argue he isn’t their point man, because he probably shares a lot of the beliefs of the Saudi People. Anotherwords, it’s hard to make the case he is their point man, because they don’t even have to pressure this idiot.
He stopped the pipeline on his own. I’ll bet he’d stop shale too if hey could come up with a way to do it.
He just wants to take this nation down, and I think the Saudis are smart enough to know that if you tank the Western powers, their wealthy become essentially less, and also rather pointless.
What’s the point of having all that wealth, if there isn’t a thriving economy to purchase things from? What car do you buy if nobody is making them? What Casino do you hang out in, if there are no longer any beautiful people.
I know this sounds trite, but without the little people, the rich are no longer rich. What do you invest in if the West collapses? Where do you play if chaos rains down?
People are messing with fire here. Handled wrong, this could be a global meltdown, a real calamity.
I think Bush was a much better point man. He only tweaked the edges, but even he failed to grasp the economic dangers he faced. In the end, he damaged everyone.
Obama could end everyone fiscally.
Yep, can you believe that?
We deny drilling rights in the Gulf because those deep wells are dangerous, and off the cost of Brazil the wells are twice as deep, and Obama granted loans.
Are they staying mainly within the Saudi ruling class or something?
Ouch. Thanks for the mention of the disorder and the economic abyss too.
If you could, I would find it interesting if you could expand your comments.
If you’d rather not, I understand. You’ve got me curious now.
Sounds like you have some interesting things to relate.
If I were the Saudi King I'd chill out in a Palace with my 200 concubines and not give a good god damn about anything. ;)
Considering the KGB provided seed money to at least one of the better known environmentalist groups back in the '70s with the express intent of hobbling Western Industry, they would not be the first to use our courts to injure our strength as a nation.
As a rule, things are a lot cleaner now--we haven't had any rivers catch on fire lately--so the better money would be spent bribing the EPA and associated flunkies, and buying 'studies' to provide 'justification' for insane regulation.
The money need not even be spent here in the US, if one considers the "Global Warming" panic and rhetoric which has so severely perfused conventional wisdom, media, and entertainment that it will take the next ice age before people realize it isn't happening.
I wasn't happy about the shift in Libya or Egypt, and frankly, figured Duh-1 had weighed in on the wrong side. Better the devil you know, and as is proving out, there are far worse over there. At least the old regimes were fairly predictable and stable.
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