Saudi Oil Well Dries Up -- Ambrose Evans-Pritchard, The TelegraphIf Citigroup is right, Saudi Arabia will cease to be an oil exporter by 2030, far sooner than previously thought.
A 150-page report by Heidy Rehman on the Saudi petrochemical industry should be sober reading for those who think that shale oil and gas have solved our global energy crunch.
I don't wish to knock shale. It is a Godsend and should be encouraged with utmost vigour and dispatch in Britain. But it is for now plugging holes in global supply rather than covering the future shortfall as the industrial revolutions of Asia mature.
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My Comment: I have been hearing this story for the past 30 years. One day we will probably run out of oil .... but it will not be today .... or in 2030.
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