The House of Saud is Not Happy About the Shale Gas Boom

by Marilou Long on July 30, 2013

in Energy,Foreign Markets,Geopolitical

The shale oil viagra free sample and gas boom highlights the possibility of energy independence for the United celebrex States. Prince Alwaleed Bin Talal has noticed, and he recently about the threat to their economy which is is lexapro a maoi based entirely on exporting oil. From the linked WSJ article:

Not long after the prince issued his warning, a report from OPEC published Monday showed the group”s oil export revenue hit a record high of $1.26 trillion in 2012. However, forecasts from the group raise questions over whether that level of earnings can be sustained amid the competition from shale oil.

Saudi Arabia, the world”s biggest oil exporter, is now pumping at less than its production capacity because consumers are limiting their oil imports, Prince Alwaleed said in the letter. This means the kingdom is “facing a threat with the continuation of its near-complete reliance on oil, especially as 92% of the budget for this year depends on oil,” said the prince.

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