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Prince Calls Fracking ‘A Threat’ To Saudi Arabia

From the UK’s Sky News:

Saudi Prince: Fracking Is Threat To Kingdom

29 July 2013

A Saudi prince has warned that his oil-reliant nation is under threat because of fracking technology being developed elsewhere around the world.

Billionaire Prince Alwaleed bin Talal said the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues. His warning comes as rising shale energy supplies in the United States cut global demand for Saudi oil.

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 Organisation of the Petroleum Exporting Countries (Opec) member states was "in continuous decline".

Of course we don’t notice any decline in price because our dollar is being continuously devalued by Mr. Bernanke’s printing press.

He said Saudi Arabia’s heavy dependence on oil was "a truth that has really become a source of worry for many". He added that the world’s biggest crude oil exporter should implement "swift measures" to diversify its economy…

Prince Alwaleed… warning reflects growing concern in private among many Saudis about the long-term impact of shale technology. It is allowing the US and Canada to tap unconventional oil deposits which they could not reach just a few years ago.

Chancellor George Osborne has also announced support for fracking in Britain and in offshore waters, to ease a reliance on foreign oil and gas. Some analysts think this may push demand for Saudi oil, as well as global oil prices, down sharply over the next decade…

In a report earlier this month, Opec forecast demand for its oil in 2014 would average 29.61mbpd, down 250,000bpd from 2013. It cited rising non-Opec supply, especially from the US.

Remember when Barack Obama and other Democrats used to talk about our need to become less dependent on foreign sources like the Middle East for our energy?

Of course, they only said this to try to plow taxpayer dollars into their cronies’ green energy boondoggles. Some of which would be kicked back to them in the form of campaign contributions.

But isn’t it funny how they never talk about that now. Instead, they and their media minions are doing everything they can to fight fracking and shale oil in America.

Meanwhile, the oil interests in the Middle East haven’t been sitting on their hands. They have been helping to funding the war on fracking, too.

From the archives of the Heritage Foundation:

Matt Damon’s Anti-Fracking Movie Financed by Oil-Rich Arab Nation

By Lachlan Markay | September 28, 2012

A new film starring Matt Damon presents American oil and natural gas producers as money-grubbing villains purportedly poisoning rural American towns. It is therefore of particular note that it is financed in part by the royal family of the oil-rich United Arab Emirates.

The creators of Promised Land have gone to absurd lengths to vilify oil and gas companies… Since recent events have demonstrated the relative environmental soundness of hydraulic fracturing – a technique for extracting oil and gas from shale formations – Promised Land’s script has been altered to make doom-saying environmentalists the tools of oil companies attempting to discredit legitimate “fracking” concerns.

While left-leaning Hollywood often targets supposed environmental evildoers, Promised Land was also produced “in association with” Image Media Abu Dhabi, a subsidiary of Abu Dhabi Media, according to the preview’s list of credits. A spokesperson with DDA Public Relations, which runs PR for Participant Media, the company that developed the film fund backing Promised Land, confirmed that AD Media is a financier. The company is wholly owned by the government of the UAE.

The UAE, a member of the Organization of Petroleum Exporting Countries (OPEC), has a stake in the future of the American fossil fuel industry. Hydraulic fracturing has increased the United States’ domestic supply of crude oil and natural gas in areas such as the Bakken shale formation and has the potential to increase domestic production much more in the foreseeable future. That means more oil on the market, and hence lower prices for a globally traded commodity…

But it’s probably just a coincidence. Hollywood would never let itself be used for propaganda purposes.

This article was posted by Steve Gilbert on Tuesday, July 30th, 2013. Comments are currently closed.

9 Responses to “Prince Calls Fracking ‘A Threat’ To Saudi Arabia”

  1. There is no “k” in frac.

    • I’m the Grammar Nazi. Fracking falls under the Special K rule.

      /Special K

      :-)

    • Hydraulic fracturing is the proper term and no, it doesn’t contain a K. But fracking is the excepted slang term for this technology and is spelled correctly.

      So ehnnnn! (sticking out tongue)

    • Fracing is the term I and everyone I know has always used. I’ve been in the frac business 31 years.

    • I was RoW and Landman for years and I’ve heard it refered to in much more colorful language than we’re using. Usually coming from someone chained to a tree or a valve.

      Still, in the press and public the spelling is as we so often see it, but all my old paperwork refers to the process as Hydraulic Fracturing. Legal documents tend to be precise.

      To be honest, I’ve never really seen the word written anywhere except in the press. I didn’t have much occasion to hang out with the roughnecks, drillers or pushers and never really thought about how the slang was spelled.

      I stand corrected by my more learned colleague. ;-)

    • Let me repeat … SPECIAL K Rule.

      (hint, it began with Khaddafi. As in Gaddafi. As in Q’addfya. Etc. Depending on the style book used by which Editor and colloquial usage and custom.)

      /Special K

  2. More precisely, it’s a threat to the oil monopoly of the Saudis and the other OPEC nations. Let’s turn the Billionaire Prince Alwaleed bin Talal into “FORMER” Billionaire Prince Alwaleed bin Talal. If Arab nations want to live in the 12th century, taking away all that money would put them on the road. And at the same time, it would make us self sufficient and make it unnecessary for us to do business with the middle east… except of course selling them everything they need to effectively and efficiently kill each other.

    • This is all needs be said http://www.americanthinker.com.....orism.html

      It ain’t just about funding our own nation, it’s about ripping wealth out of the hands of freaks like the Prince who seek to destroy Israel and warp America into a servant of the Caliphate

    • canary

      I think Saudis want out of transporting oil to western oil countries because they can no longer
      handle the heat from radical extremism. They will want Iran to help them when time comes for their own Arab Spring. Our ties are more than oil, but warring together in Yemeni is going to spiral out of control with another Syria mess.

      Protests in Libya are skyrocketing as the people are not happy with the Muslim Brotherhood the same as in Egypt so it’s going to be more chaos getting someone more secular back in control. lol.

      Saudi’s oil is at risk of going up in flames.

      And who would guess North Korea who are producing and cooking meth which allows them to work harder and with less sleep is now increasing addicts in China who might like the idea of their people working harder a with less sleep. Big money selling meth or as N Korea refers to it as “ice”. Along with that drug is eating of the brain and body and loss of any conscious or sanity.

      Strange we put all those missile defense gadgets in Alaska due to growing hostility of North Korea against us. Now we know why Dennis Rodman likes to go to North Korea and is getting nuttier but deserved to be on the cover of the Rolling Stones. Something is wrong with their editor and reporters too.

      http://www.thedailybeast.com/n.....xport.html




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