Job Discussion Forums

[wantok]

If Citigroup is right, Saudi Arabia will cease to be an oil exporter by 2030, far sooner than previously thought.

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100019812/saudi-oil-well-dries-up/

[posh]

So if they can't drive (badly) around all day like morons, what the hell are they going to do with themselves? It will be like depriving the yanks of burgers. And what about that other favourite pastime - leaving water taps running for hours on end until the Bangladeshi cleaner/maid turns it off and spoils the fun? I feel for them: a man needs a hobby.

[mashkif]

[2buckets]

mashkif +1

"100 years ago they were in the desert with their sheep and cutting off each other's heads, and 100 years from now they'll be doing the same thing."

From the movie Syriana.

[veiledsentiments]

I'm not sure that I would consider Citigroup the world's greatest authority on oil production or consumption... I wouldn't even consider them the world's authority on banking...

VS

[johnslat]

I'd be a lot more comfortable discussing this news item if I had access to the report on which it's based. Unfortunately, none of the dozens of references to it that I found on the web included a link to the source, which is probably on one of Citi's client-only sites. The Bloomberg and Daily Telegraph articles seemed to be the most complete, with the latter including a couple of charts from the report."

"The Saudi analysis from Citigroup proposed a fascinating scenario, with many interesting implications, although I'd argue that it's also subject to the simple advice of Herb Stein that "If something cannot go on forever, it will stop." By coincidence, it's also relevant to the energy debate underway between the US presidential campaigns. Although it's highly uncertain that Saudi Arabia's oil exports will dry up by 2030, we shouldn't assume such an outcome to be impossible, any more than we should base US energy policy on the outdated assumption that it's impossible for us to come close to eliminating the need for oil imports from outside North America. It might be uncertain whether we have sufficient resources accessible with the latest technology to reach that goal, but it is essentially certain that the growing but still tiny contribution of renewable energy and the eventual conversion of the US vehicle fleet to electricity couldn't get us there for multiple decades."

For the full article:

http://theenergycollective.com/geoffrey-styles/110476/what-if-saudi-arabia-became-oil-importer

Regards,
John

[wantok]

Mashkif: "All that money, and they did absolutely nothing commendable with it."

Huh? Not much staff turnover at BAE and Lockheed Martin!

http://www.economist.com/blogs/graphicdetail/2012/08/daily-chart-14

Nawaf Obaid writes a stinging Saudi critique of U.S. foreign policy, and promises that, in the future, Saudi Arabia will be setting its own course (by plagiarizing from an American model)! http://www.theatlantic.com/international/archive/2011/05/does-this-mean-we-wont-have-to-save-saudi-arabia-anymore/238964/

[posh]

[gelynch52ph]

[cairanya]

Am I the only one who cannot wait for the ice caps to melt so that Norway and Greenland become as powerful as Saudi is now?

[gelynch52ph]

[scot47]

I have always found it odd that those who have had negative experiences in Arabee love to dwell on the end of oil- at some imagned date in the future when most of us will be in the Great EFL Classroom in the Sky !

[gelynch52ph]

[gelynch52ph]

[cairanya]