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Saudi letter concerning oil and gas has panicky tone
Toronto Sun ^ | Jan. 11/14 | Ezra Levant

Posted on 01/12/2014 6:00:03 AM PST by Dartman

Saudi Arabia has noticed Canada’s booming oil and gas industry — and they don’t like what they see.

You could even say they’re scared.

That’s the panicky message in a 14-page memo written to Saudi Arabia’s energy ministry by Prince Al-Waleed bin Talal, an influential member of the Saudi royal family.

He desperately warns them that Saudi Arabia’s energy dominance is at risk, including from oil and gas developments in western democracies.

And he mentions Canada by name.

Al-Waleed isn’t just another pundit or oil-rich Arab sheikh. He’s an international tycoon who has built a vast empire of holdings, including large stakes in Twitter, Four Seasons hotels and other prestigious western companies.

But he’s also a prince. And when he speaks to the western media he often uses the word “we.” As in, he speaks for more than just himself, if not quite for the Saudi king.

Which is why his memo should be studied closely by Canadian diplomats, oil and gas executives, and CSIS.

Here are some excerpts, translated from the original Arabic:

“In addition to the many discoveries of oil and gas in the U.S., Canada and Australia, there are also great discoveries of shale gas, which will lead to a reduction of consumption of our oil,” Al-Waleed writes.

That’s a clear reference to Alberta’s oilsands, as well as the fracking-led natural gas boom across the west — and possibly one day soon in New Brunswick.

“But I do not see any plan of the state on this matter,” continues Al-Waleed.

“The Ministry of Petroleum and Mineral Resources has a great responsibility to bring these fateful issues to a discussion, debate and internal dialogue, but to this day it has not been done.”

The prince thinks the kingdom is in denial, hoping that fracking and the oilsands — and the competition to OPEC that they represent — will just go away.

For 40 years Saudi Arabia has had the west over a barrel, controlling the price of oil through its market dominance and its use of the OPEC cartel. But oilsands and fracking put that in jeopardy.

As Al-Waleed notes, 92% of Saudi Arabia’s revenues are from oil and gas.

Take that away, and the kingdom — and his family’s luxurious perch — face an existential threat.

Al-Waleed said these technologies aren’t a risk today. But they could be very soon:

“At the moment there are no risks to the Saudi economy as a result of the production of this type of gas. But we were also hoping that your Highness would shed a light and focus on the seriousness of this matter sooner than later, especially since the United States and some Asian countries have made great discoveries in the extraction of shale gas, which inevitably will have an effect on the global oil industry in general and Saudi Arabia in particular.”

Al-Waleed mentions Canadian energy again. Along with the words “the threat.”

“We believe that the threat is inevitably coming from shale gas, which (its production) is increased at high rates in the U.S. and Canada ... For us the issue is clear and it requires swift actions.”

What swift actions would those be?

Saudi Arabia already pumps millions of dollars into Canadian mosques, ensuring that Canadian imams preach the extremist Wahhabi interpretation of Islam favoured by the likes of Osama bin Laden.

Saudi Arabia has a vigourous presence in Ottawa, not just through their embassy but through a phalanx of government relations consultants.

And, of course, in countries like Syria, Saudi Arabia pursues its interests by funding armed jihadists.

So what might Saudi Arabia’s “swift actions” include in Canada?

Hopefully not eco-terrorism.

But given the panicky tone of this high-ranking Saudi prince, and his dictatorship’s penchant for buying influence, it’s probably worth asking Canadian environmental lobbyists if they receive any funding from OPEC to fight Canadian oil and gas.

Perhaps it’s a question Foreign Minister John Baird might put to Al-Waleed or the Saudi ambassador.


TOPICS: Australia/New Zealand; Business/Economy; Canada; Foreign Affairs
KEYWORDS: alberta; australia; canada; energy; fracking; letter; newbrunswick; oil; opec; panicky; princealwaleed; saudi; saudiarabia; venezuela
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Saudi Arabia already pumps millions of dollars into Canadian mosques, ensuring that Canadian imams preach the extremist Wahhabi interpretation of Islam favoured by the likes of Osama bin Laden.

We know who are friends are.

1 posted on 01/12/2014 6:00:03 AM PST by Dartman
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To: Squawk 8888

ping


2 posted on 01/12/2014 6:01:25 AM PST by Dartman (CDN PM Stephen Harper may not be perfect, but we don't have to be ashamed or embarassed of him.)
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To: Dartman

I’m convince we have the resources to use oil and especially natural gas as an economic weapon to eliminate OPEC’s influence and deny Russia the income to rearm and rebuild their military. The icing on the cake is the restriction of funding for terrorism.

We could set off a downward spiral in oil prices.


3 posted on 01/12/2014 6:05:50 AM PST by meatloaf (Impeach Obama. That's my New Year's resolution.)
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To: Dartman

Poosy.

They can sell plenty of their oil to China


4 posted on 01/12/2014 6:10:14 AM PST by Vendome (Don't take life so seriously-you won't live through it anyway-Enjoy Yourself ala Louis Prima)
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To: Dartman

Even though they may lose their dominance over oil/gas...the Moslems have been very smart to start using Sharia Banking as a holding ground element...it might not be as lucrative as oil - but it could sustain these evil empires and allow them to survive and continue their jihad into Western nations...


5 posted on 01/12/2014 6:12:18 AM PST by BCW (Salva reipublicae)
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To: Dartman

May they encounter the same level of warmth and sensitivity that they have shown the West.


6 posted on 01/12/2014 6:12:38 AM PST by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: Dartman
Take that away, and the kingdom — and his family’s luxurious perch — face an existential threat.

We should have nuked these goat-humping a-holes after 9-11 but if they have to die a slow death or be overthrown and hung up on lamp posts by the slaves they import from other countries to scrub their toilets, I guess I'll have to settle for that.

7 posted on 01/12/2014 6:14:11 AM PST by Sirius Lee (All that is required for evil to advance is for government to do "something")
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To: Dartman

Yeah, and the Sauds are NOT our friends...


8 posted on 01/12/2014 6:15:28 AM PST by GOPJ ("Remember who the real enemy is... ")
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To: Dartman

“We know who are friends are.”

There is no such thing. There is not one Muslim country
or single Muslim alive that is an ally of America. Islam
is right up there with Obama and his fellow communists as
the biggest enemies to this country. They are probably
planning another 911 type event right now and Obama and Kerry
are surfing YouTube right now for a video to blame it on.


9 posted on 01/12/2014 6:18:12 AM PST by Slambat
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To: meatloaf

I don’t want to see too much of a downward spiral...

The good prices right now keep American oil companies searching for and pumping oil and natural gas right here in the good ‘ole USA... spiraling down too much would kill the goose that laid the golden egg.


10 posted on 01/12/2014 6:19:17 AM PST by Alas Babylon!
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To: Vendome

You are right. The Chinese could occupy the mid-east to protect their new ‘investment.’


11 posted on 01/12/2014 6:19:30 AM PST by DIRTYSECRET (urope. Why do they put up with this.)
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To: Vendome

That is correct.

The problem the man sees is that the non oil 8% of the economy does not grow. That is, he fears that the coming decline will not be mitigated by growth in other areas of the Saudi economy. His message is to his countrymen to develop other economic assets


12 posted on 01/12/2014 6:21:55 AM PST by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: Dartman

let Em Pound Sand! ! ! ! ! !


13 posted on 01/12/2014 6:22:03 AM PST by DeaconRed (GOD: Please send us one more Ronald Reagan. Soon. Thanks Deacon Red. PS It ain't Christie. . .)
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To: Dartman

Back in the old days, when new oil threatened old the Sauds used to cut the price. With all the new sources and methods I’ve been waiting for the cartel to do the old thing.


14 posted on 01/12/2014 6:22:55 AM PST by TalBlack
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To: Dartman

They can plant KUDZU. . . . .


15 posted on 01/12/2014 6:23:17 AM PST by DeaconRed (GOD: Please send us one more Ronald Reagan. Soon. Thanks Deacon Red. PS It ain't Christie. . .)
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To: Dartman
It's more than just shale oil and gas in North America that threatens the Saudi oil-based economy. Don't forget the following:

1. Iran (and by proxy Iraq) is trying to negotiate an end its enmity with the Western world. If they succeed, that could open up gigantic oil and natural gas fields with the help of Western petroleum companies that are way under-exploited in Iran and Iraq--and these are potentially much bigger than found along the south shore of the Persian Gulf.

2. China is finally starting to open up the natural gas and oil fields in Xinjiang Autonomous Region, another place where it is way under-exploited until now.

3. Japan is looking at "mining" methane hydrates from the ocean floor off the coast of Japan (there is a lot of methane hydrates in the shallow ocean near Japan). If they succeed, that could mean Japan could convert all its power plants to use clean burning compressed natural gas processed from methane hydrates, and that could mean a lot less crude oil sales from the OPEC countries.

4. There is now very serious research into molten-salt reactor (MSR) nuclear reactors that use thorium-232 dissolved in molten fluoride salts as fuel. That could mean a very safe form of nuclear power with a fuel supply lasting thousands of years.

In short, Adam Smith's invisible hand is about to do a judo chop on the Saudi economy, no thanks to the Saudis' attempt to keep crude oil price high resulting in alternatives becoming very economically viable.

16 posted on 01/12/2014 6:24:13 AM PST by RayChuang88 (FairTax: America's economic cure)
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To: Dartman

soetoro has received his orders. Look for more obstructionism of American petroleum development from the little islamist.


17 posted on 01/12/2014 6:25:19 AM PST by onedoug
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To: Dartman
Prince Al-Waleed bin Talal is the guy who funded most of the Islamic studies schools at places like Harvard and Georgetown. The professors at such schools spread a peaceful view of Islam and obscure its true nature.

Bin Talal is also the guy who is rumored to have paid for Obama's Harvard education, such as it was.

And on a really sour note, the prince is the third largest stockholder in the Fox News (News Corp) with a 6.6 percent stake. Source

18 posted on 01/12/2014 6:27:47 AM PST by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: Dartman
by Prince Al-Waleed bin Talal, an influential member of the Saudi royal family.

Prince Al-Waleed bin Talal is FAR more than just "influential".

He's the guy who pulled the strings to get Obama into Harvard Law

When this guy calls the White House to express displeasure, does anybody think Obama will not pick up the phone?
19 posted on 01/12/2014 6:29:13 AM PST by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: Slambat
.

 photo Islamic-Jihad--2013-10-07--D_zps90702dea.jpg


.
20 posted on 01/12/2014 6:29:36 AM PST by Patton@Bastogne (Swine Piss be upon the Sodmite Obama, and his Child-Rapist False Prophet Mohammed)
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To: Dartman

the Saudis are not our friends


21 posted on 01/12/2014 6:29:51 AM PST by yldstrk (My heroes have always been cowboys)
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To: RayChuang88

Very insightful and encouraging

I can’t wait for the Adam Smith chop


22 posted on 01/12/2014 6:31:41 AM PST by yldstrk (My heroes have always been cowboys)
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To: Dartman
“We believe that the threat is inevitably coming from shale gas, which (its production) is increased at high rates in the U.S. and Canada ... For us the issue is clear and it requires swift actions.” What swift actions would those be?

Actions = increasing campaign contributions to democrats.

23 posted on 01/12/2014 6:32:04 AM PST by Spirochete (Does the FedGov have the attributes of a legitimate government?)
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To: bert

He will miss being able to buy solid silver automobiles


24 posted on 01/12/2014 6:32:39 AM PST by yldstrk (My heroes have always been cowboys)
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To: Slambat
Didn't think I had to add, (/s), but there it is :)
25 posted on 01/12/2014 6:32:42 AM PST by Dartman (CDN PM Stephen Harper may not be perfect, but we don't have to be ashamed or embarassed of him.)
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To: RoosterRedux

Bump.

That is why conservatives really, really need to continue to develop conservative news sources.

Fox is good, but not great. And the Prince’s holdings are large enough to muffle some news.

We are still far too dependent on a very limited number of news sources.

Keep working on this, please.


26 posted on 01/12/2014 6:33:55 AM PST by Cringing Negativism Network (http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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To: RayChuang88
1. Iran (and by proxy Iraq) is trying to negotiate an end its enmity with the Western world. If they succeed, that could open up gigantic oil and natural gas fields with the help of Western petroleum companies that are way under-exploited in Iran and Iraq--and these are potentially much bigger than found along the south shore of the Persian Gulf.

Which is another reason why Saudi-backed al-Qaeda is in Syria, trying to topple Assad.

A stable Syria could provide a way for Iranian and Iraqi oil and gas to reach a port on the Mediterranean, and thence to Europe.

27 posted on 01/12/2014 6:35:15 AM PST by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: Dartman

It is probably very ture that if Saudi Oil becomes less profitable their entire economy will collapse and the Saudi Shieks will lose power.

This would let the Muslim Brotherhood take power - which would be very very bad...

But they have ONLY HAD 50 YEARS OF OBSCENE WEALTH to do something about it... They could have developed their countries far beyond anything they have done


28 posted on 01/12/2014 6:36:55 AM PST by Mr. K (If you like your constitution, you can keep it...Period.)
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To: DIRTYSECRET

The Chinese are going frack-happy on their own. Within ten years, they may be energy self-sufficient, thanks to US technology and American contractors.


29 posted on 01/12/2014 6:38:44 AM PST by pingman (In the Land of the Perpetually Outraged, truth is the enemy.)
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To: RayChuang88

The more, the merrier. I would think that if more countries would begin refining their own resources, the price would have to fall.


30 posted on 01/12/2014 6:39:29 AM PST by Dartman (CDN PM Stephen Harper may not be perfect, but we don't have to be ashamed or embarassed of him.)
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To: BCW

Sharia investing is a potent a form of economic manipulation similar to the oil cartel idea but it is not as easily controllable as the spigot emanating from the ground in country. Oil is still king of the roost in terms of political power and the power it gives to the House of Saud in terms of their ability to maintain power in the Arabian peninsula.


31 posted on 01/12/2014 6:43:55 AM PST by quantumman
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To: RoosterRedux
Bin Talal is also the guy who is rumored to have paid for Obama's Harvard education, such as it was.

See here

32 posted on 01/12/2014 6:46:54 AM PST by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: bert; Vendome

The problem the man sees is that the non oil 8% of the economy does not grow. That is, he fears that the coming decline will not be mitigated by growth in other areas of the Saudi economy. His message is to his countrymen to develop other economic assets


Please correct me if I’m wrong. But don’t the arabs in general have a pretty miserable record (Over the last 100 years or more), in developing new industries or businesses of any sort without outside ‘help’?

Even their vaunted oil company, wells and production facilities were built by outside companies and were ‘taken over’ starting in 1982 and finished in 1988.

Also from experience and reading I believe that most Saudi’s think of themselves as ‘managers’ and wouldn’t ever think of sullying their hands with work. That’s why they import millions of people from other ‘Islamic Countries’ to do the work for them.


33 posted on 01/12/2014 6:47:11 AM PST by The Working Man
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To: PapaBear3625

Yep. And from what I hear, every word of that is true.


34 posted on 01/12/2014 6:50:43 AM PST by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: Dartman

Saudi Arabia was never our friends. If they were, they would use their power to stop TERRORISM. With our own resources, we could tell the Terrorists to go pound sand. We need to tell them (the Saudis) that if they want our $$$, they need to recongize Israel. If they don’t, F them.


35 posted on 01/12/2014 6:52:03 AM PST by ExCTCitizen (2014theyearofdeadRINOs)
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To: Dartman

Good. The Sons of Ishmael need to go back to their nomadic existence to which they excelled at for thousands of years. Westernizing them has only embittered them towards us.


36 posted on 01/12/2014 6:54:50 AM PST by MuttTheHoople (Nothing is more savage and brutal than justifiably angry Americans. Don’t believe me? Ask the Germa)
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To: Dartman

There is more than one way for Saudi Arabia to cope with fracking. One way is to develop other aspects of their economy. This would not be easy, because Saudi Arabia has pretty much nothing going for it beyond petroleum—unless they plan to market sand (theirs is poor quality BTW).

The other way to deal with fracking is to fund the anti-fracking, predominately leftist, forces. They can’t stop the technology of course, but they could influence western governments to essentially cut their own throats by banning or heavily restricting fracking.


37 posted on 01/12/2014 6:55:46 AM PST by CitizenUSA (Sodomy and abortion. The only constitutional rights protected by Democrats.)
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To: The Working Man
Please correct me if I’m wrong. But don’t the arabs in general have a pretty miserable record (Over the last 100 years or more), in developing new industries or businesses of any sort without outside ‘help’?

It may have to do with their culture in general ( see Shame, the Arab Psyche, and Islam ) and specifically with their tendency with being obsessed with "saving face" and being reluctant to admit to being wrong, which makes it hard to resolve problems.

I've dealt with Saudi military officers. They make pretty miserable managers.

38 posted on 01/12/2014 7:00:12 AM PST by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: The Working Man

I believe you are correct. More Westerners are there working for Aramco then Saudis. They import 3rd world citizens to be housekeepers. If the West had any balls, we should get our citizens out of there and tell our ‘friends’, to F themselves.


39 posted on 01/12/2014 7:01:52 AM PST by ExCTCitizen (2014theyearofdeadRINOs)
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To: RoosterRedux

He’s also the guy who Giuliani told to stick his $10M check up his ass after 9-11 when he lectured us about our foreign policy.


40 posted on 01/12/2014 7:02:18 AM PST by NoKoolAidforMe (I'm clinging to my God and my guns. You can keep the change.)
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To: Alas Babylon!
True, with the U.S. taxes and the regulatory environment being what it is, plus the expense of the modern production methods which bring the shale bound oil to the surface, the cost of exploration and production calls for an $80-90 crude price right now. And if you compare it to the prices 40 years ago and account for inflation, that isn't so bad.

Though what we need more than anything right now is the go-ahead to build more infrastructure - pipelines for oil and gas, and more refineries. But we as a people are going to have to rise up and demand it.

There is no good reason we shouldn't have full energy independence and lower costs, right now.

41 posted on 01/12/2014 7:05:30 AM PST by Clinging Bitterly (I will not comply.)
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To: Alas Babylon!

It’s a double edged sword. We have too much natural gas for the current price. We need to issue the export permits to put LNG on the world market. With natural gas comes soil. With the EPA driving the closure of coal fired power plants, the only quick alternative is natural gas fired combustion turbines. It will be years before those start to drive prices up. Until then, we need to export LNG.


42 posted on 01/12/2014 7:05:53 AM PST by meatloaf (Impeach Obama. That's my New Year's resolution.)
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To: Sirius Lee

Works for me too


43 posted on 01/12/2014 7:07:26 AM PST by lormand (Inside every liberal is a dung slinging monkey)
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To: Dartman
I had hoped I would live to see the day when the feckless Bedouins of Saudi Arabia would be left sitting atop their sand castle while the world passed by oblivious to the "treasure" under the deserts. I think that day is approaching, and not a minute too soon.

The next dream is a full economic collapse of that treacherous regime and a return of its bandit leaders to their tents and camels and the windswept barrens God intended that wasteland to be.

44 posted on 01/12/2014 7:10:11 AM PST by IronJack
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To: Vendome
They can sell plenty of their oil to China

True, but China may not be as nice a business partner. As a matter of fact, they might just forget to pay now and then...

45 posted on 01/12/2014 7:12:23 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: NoKoolAidforMe

That’s right. He told Rudy he thought American foreign policy caused 9/11 and Rudy told him to eff off.


46 posted on 01/12/2014 7:12:24 AM PST by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: The Working Man

The Skyline of Dubai

Well, yes and no. The Arabs have made tremendous strides in using their oil and financial assets to develop their economies beyond only oil sales. For example in Saudi Arabis, early on, the Royal Saudi Commission of Jubail and Yanbu was established. It was pretty much run by the American Company of Saudia Arabian Bechtel. While the employees were largely American, they came from Bechtel organizations all over.

The area in Jubail Industrial zone grew from essentially 0 to around 250,000 in a period of roughly 25 years. The population is largely Saudi and is involved in running and servicing the mostly petrochemical plants there A similar situation exists in the west at Yanbu. I don't believe it is a large . While there is tremendous growth at Jubail, there is also growth in the economy further south in Al Khobar and Dammam. These cities have lots and lots of businesses great and small that support the Dhahran based Saudi Aramco and the industry at Jubail. The business of industrial support is huge. This business of wanting to be managers and not actually work has some basis in reality. There is however a desire to have things and lead a good life. The means are there if the work is done. There is change in attitude of those in the generations coming up. Then there is Dubai and Abu Dhabi. Both are truly world class business and financial centers. Any world company worth a damn must have at least offices and better yet, distribution there. Both are humming with the trade passing through the ports and warehouses and free trade zones and banks. All of the above is coveted by Iran. The Mullahs resent it all and want it for their own All this is beyond the comprehension of a common street organizer and political idealogue

47 posted on 01/12/2014 7:14:12 AM PST by bert ((K.E. N.P. N.C. +12 ..... History is a process, not an event)
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To: PapaBear3625

Great article, read it all, very scary that our # 1 foreign enemy, Saudi Arabia, has this much history and potential control of the President of the Unoted States. This article explains his bowing to these guys when he was over there. He owes them a lot. Indeed, after reading this article, I think Obama has tens of millions, if not hundreds of millions, in foreign bank accounts. You can’t explain that on a 400k salary. So “Treason” is out there, we just need some people in power and positions and with balls to go after the evidence so this cancer can be removed from our country.

When it does, a carburetor must be put upon the Alphabet media!


48 posted on 01/12/2014 7:27:52 AM PST by Cen-Tejas (it's the debt bomb stupid!)
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To: bert
the non oil 8% of the economy does not grow.

In other words, the Saudis never developed a non-oil industrial base; they ate their seed corn.

49 posted on 01/12/2014 7:38:50 AM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
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To: Dartman
Wait a minute. The liberals have told us we have exploited the Arabs for their oil for decades. This article makes it appear the Arabs have enjoyed selling their oil to us.

/s

50 posted on 01/12/2014 7:46:09 AM PST by Partisan Gunslinger
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