Top Saudi investor says US energy boom could doom kingdom's economy.

Fox News ^ | 7/30/2013 | Perry Chiaramonte

[Carriage Hill]

America’s energy boom is putting a scare into Saudi Arabia.

According to the Wall Street Journal, Saudi billionaire Prince Alwaleed bin Talal warned in a letter to Saudi Oil Minister Ali al-Naimi and others that the U.S. boom of shale oil and gas will reduce its thirst for Saudi crude oil.

“With all due respect to your Highness’ viewpoint about shale gas and that it poses no danger on Saudi economy at ‘the present time,’” read a translation of the letter, dated May 13 but only recently tweeted on a Twitter page previously used by Alwaleed. “I was hoping that your Highness would also shed light and focus on the danger of this matter in the ‘not-so-distant future,’ especially that America and some Asian countries made big discoveries in shale gas extraction which will affect the oil industry around the world in general and Saudi Arabia in particular…”

[Carriage Hill]

If 0bummer, the EPA, Dept Interior etc have anything to say about it, over the next 3½-years, they'll continue to keep exploration and drilling moratoriums in-place, place more and more land "off-use", and continue the bogus studies declaring fracking a "carcinogenic hazard". They'll do everything they can to keep us as dependent as they can upon as much of the ME oil as possible, though the Saudis are #2 behind Canada's oil imports.

[ImJustAnotherOkie]

Obummer’s got their back.

The world needs a new glass parking lot.

[ScottinVA]

Gosh.... the idea of dooming the economy of the prime monetary benefactor of radical mosques and madrassahs throughout the world.... how friggin’ awful...

[Yo-Yo]

though the Saudis are #2 behind Canada's oil imports.

Oil is fungible. Every barrel we import from Canada is one barrel available from Saudi Arabia to be imported by a European country. Therefore even if we don't import a lot of Saudi oil, the more we produce locally the higher the overall worldwide stocks become, and the lower the price will go.

Sub-$100 per barrel oil means fewer gold plated Rolls Royces for Saudi princes.

[Carriage Hill]

I’ve got my crying towel and bucket, all ready. Heh. Let ‘em eat sand.

[knarf]

Awwwwww ... sniff ...

[Red in Blue PA]

Perhaps what they need is an obama bailout.

[Carriage Hill]

That kinda blows the “dinosaur/plants deposits’ greenie theories all-to-hell (we’ve known that reality for years), but they’ll never give-up on oil being a “finite resource”. Let the princes go back to tents and camels, IMO.

After 9-11, the 15-of-19 hijackers, and all the other terrorist funding coming from SA with Western oil dollars, I don’t give a flying rat’s rearend what happens to them.

[Carriage Hill]

They’re some of his murderous muzzie benefactors - you saw how he bowed that time - so he won’t let them collapse. There’s regs/rules from 0bummer’s corrupt and criminal admin, to keep the US oil exploration down, while maintaining the SA oil flow. Bet on it.

[Carriage Hill]

[imardmd1]

And when he had opened the third seal, I heard the third beast say, "Come and see." And I beheld, and a black horse; and he that sat on him had a pair of balances in his hand. And I heard a voice in the midst of the four beasts say, "A measure of wheat for a penny (= a day's wages), and three measures of barley for a penny (= a day's wages); and see that thou hurt not the oil and the wine.

-- Revelation 6:5-6 -- (after this, Death and Hell)

[thackney]

That kinda blows the “dinosaur/plants deposits’ greenie theories all-to-hell

Since all of this shale gas and oil is sourced from sedimentary rock, how do you think this changes that at all?

[IronJack]

Heaven hasten the day!

[central_va]

If you took every living thing that ever lived from time immemorial and converted it to oil/gas it would not account for the product already used by man so far. The numbers don’t add up. There are moons of Jupiter with oceans of methane, not created by biological decay. Hydro carbons exist in nature.

[Mich Patriot]

Can’t sell oil? Better start farming! Oh wait...BWAAAAAHAHAHAHAHAHA!

[thackney]

If you took every living thing that ever lived from time immemorial and converted it to oil/gas it would not account for the product already used by man so far. The numbers don’t add up.

False, and false by a long, long ways.

There are moons of Jupiter with oceans of methane, not created by biological decay.

Yes, in an oxygen deficient environment, methane is the lowest energy level molecule of Carbon and Hydrogen. Depending on the ratio, there will likely be ethane and minute amounts of propane and the like.

Those are far different molecules than the complex Paraffins, Naphthenes, Aromatics, Asphaltics and the like found in crude oil. Crude oil contains biotic markers like microfossils of Foraminifera and the like.

A little info here:

USING MICROFOSSILS IN PETROLEUM EXPLORATION
http://www.ucmp.berkeley.edu/fosrec/ONeill.html

[Carriage Hill]

Sorry, what I omitted is that the deposits are also spread over wider areas, from all organic life, and not just in finite ‘large pockets’ to be quickly exhausted.

Are oil sands and coal from organic life, too? Just wondering...

[Carriage Hill]

With the Israeli’s desalinization technology, they could, but it wouldn’t be cheap.