Saturday, September 8, 2012

Saudi oil well dries up – Telegraph Blogs

Saudi oil well dries up – Telegraph Blogs:
If Citigroup is right, Saudi Arabia will cease to be an oil exporter by 2030, far sooner than previously thought.
...The basic point – common to other Gulf oil producers – is that Saudi local consumption is rocketing. Residential use makes up 50pc of demand, and over two thirds of that is air-conditioning.

'via Blog this'

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