Saudi Prince Announces Plan To Free Kingdom From Oil ‘Addiction’
First published on ClimateProgress.org, a project of the Center for American Progress Action Fund, which was recently named one of Time magazine’s Top 25 blogs of 2010.
“We have developed an oil addiction in the kingdom of Saudi Arabia
The post Saudi Prince Announces Plan To Free Kingdom From Oil ‘Addiction’ appeared first on ThinkProgress.
Source: http://thinkprogress.org/climate/2016/04/26/3772763/saudi-arabia-oil-free/
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Whistler Blowers, Insiders
The Saudi oil price war, meant to eliminate competition and punish the US, Canada, Nigeria, Venezuela, and Russia, is biting the Saudi royal ass. They normally run huge surpluses but now are running deficits and burning through their surplus cushion so fast they have had to both raise the price of domestic energy by 50% (risking citizen revolt) and borrow tens of billions to pay the bills. Saudi Arabia is taking the risk of an uprising of its very young population, its disenfranchised women, and its huge exploited immigrant population.
They are investing heavily in solar energy for domestic use so they sell their oil in foreign markets. However, their misguided oil war is eating into government’s ability to spend on solar. They have gambled and may very well lose. All these nations the oil war is meant to punish will survive: Saudi Arabia’s decadent geriatric monarchy may not. They have screwed themselves, and now the world is about to have confirmed that they were behind the 9/11 attacks.