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Saudi Prince Warns Of The Dangers Us Shale Poses To Saudi Economy


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#1 AmScray

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Posted 30 July 2013 - 05:13 PM

Quote

http://www.cnbc.com/id/100920411

Saudi billionaire Prince Alwaleed bin Talal warned that the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues, as rising U.S. shale energy supplies cut global demand for its oil.

The words "full steam ahead" come to mind. I'd like nothing more than to see those ****ers put out of business.
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#2 FCP Bob

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Posted 30 July 2013 - 05:43 PM

It isn't just rising US supply but also demand for oil as a percentage of economic activity is going down. People are driving less and the vehicles they are driving are more fuel efficient.

The Saudis have some long term concerns but it's the Russians who are really threatened by the new supplies of unconventional energy in the short term. They rely hugely on oil and gas revenue for their government and if especially natural gas prices fall in Europe they will face a massive cash crunch.
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#3 BigDMcGee

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Posted 30 July 2013 - 06:53 PM

Saudi Arabia should diversify huh.. so like.. there's a big untapped global market for camels and sand that I'm not aware of? Good luck with diversification, boys.
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#4 AmScray

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Posted 30 July 2013 - 07:00 PM

View PostFCP Bob, on 30 July 2013 - 05:43 PM, said:

The Saudis have some long term concerns but it's the Russians who are really threatened by the new supplies of unconventional energy in the short term.

Shale breaks it off in the ass of the Saudis AND the Russians? Talk about two birds with one stone!

Make it national priority #1. I've never been comfortable with the idea of Russians as our 'friends'.
Slavics are the Orientals of Europeans. They're not the same thing as us. I wouldn't want to see England or France or Poland suffer, but seriously. **** Russians right along with the Arabs. The idea that we let these assholes lord over us with something as important as oil is absurd. Put them both out of business, send them all back to herding life.
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#5 phlegm

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Posted 03 August 2013 - 01:13 PM

View PostAmScray, on 30 July 2013 - 07:00 PM, said:

Shale breaks it off in the ass of the Saudis AND the Russians? Talk about two birds with one stone!

Make it national priority #1. I've never been comfortable with the idea of Russians as our 'friends'.
Slavics are the Orientals of Europeans. They're not the same thing as us. I wouldn't want to see England or France or Poland suffer, but seriously. **** Russians right along with the Arabs. The idea that we let these assholes lord over us with something as important as oil is absurd. Put them both out of business, send them all back to herding life.
Hunting and gathering is a more natural state for Russians anyway.
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#6 JustDoIt

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Posted 03 August 2013 - 08:42 PM

View PostAmScray, on 30 July 2013 - 07:00 PM, said:

Shale breaks it off in the ass of the Saudis AND the Russians? Talk about two birds with one stone!

Make it national priority #1. I've never been comfortable with the idea of Russians as our 'friends'.
Slavics are the Orientals of Europeans. They're not the same thing as us. I wouldn't want to see England or France or Poland suffer, but seriously. **** Russians right along with the Arabs. The idea that we let these assholes lord over us with something as important as oil is absurd. Put them both out of business, send them all back to herding life.

Obama should open public lands and embrace this. With full support we could be totally free from forieng oil in 10 years.

He should forget his cronies and the billions (Solyndra etc) he has wasted on them and put the money here.

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#7 FCP Bob

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Posted 04 August 2013 - 04:16 AM

From The Economist

The future of oil

Yesterday’s fuel

The world’s thirst for oil could be nearing a peak. That is bad news for producers, excellent for everyone else


Quote

The biggest impact of declining demand could be geopolitical. Oil underpins Vladimir Putin’s kleptocracy. The Kremlin will find it more difficult to impose its will on the country if its main source of patronage is diminished. The Saudi princes have relied on a high oil price to balance their budgets while paying for lavish social programmes to placate the restless young generation that has taken to the streets elsewhere. Their huge financial reserves can plug the gap for a while; but if the oil flows into the kingdom’s coffers less readily, buying off the opposition will be harder and the chances of upheaval greater. And if America is heading towards shale-powered energy self-sufficiency, it is unlikely to be as indulgent in future towards the Arab allies it propped up in the past. In its rise, oil has fuelled many conflicts. It may continue to do so as it falls. For all that, most people will welcome the change.

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#8 aucu

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Posted 05 August 2013 - 09:30 AM

Saudis and Russia are active in funding environmental groups against petrocarb development in the west. Taking a page out of CCCP history that did the something similar.
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