Should Saudi Arabia Fear North Dakota? One Man Says Yes – Yahoo! News
By Alan Farnham
Should Saudi Arabia fear North Dakota? A member of the Saudi royal family says yes.
Prince Alwaleed bin Talal, founder of Kingdom Holding and a multi-billionaire investor in News Corp, Time Warner and Citigroup, among other companies, has told Saudi Oil Minister Ali Al-Naimi that the desert kingdom is making a mistake not to worry about burgeoning U.S. oil and gas production.
In a letter published on Twitter, the prince calls rising American shale gas production “an inevitable threat.” Saudi Arabia, he warns, “is almost entirely dependent on oil, and this reality is becoming a source of concern for all.”