Financial Times

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Alwaleed warns of US shale danger to Saudi
Financial Times

Prince Alwaleed bin Talal, the billionaire Saudi Arabian investor, has warned that his country’s oil-dependent economy is increasingly vulnerable to competition from the US shale revolution, setting him at odds with his country’s oil ministry and Opec officials.

In an open letter addressed to Ali Naimi, the Saudi oil minister, the prince called on the government to accelerate plans to diversify the economy.

“Our country is facing continuous threat because of its almost total dependency on oil,” he wrote in the letter, copied to King Abdullah, Prince Alwaleed’s uncle, among others.

The letter, which was accompanied by several others addressed to officials including the finance minister, was posted to Prince Alwaleed’s Twitter account on Sunday. The letters were dated May 13 and a spokesperson for the prince confirmed they were genuine.

Ceci explique peut-être pourquoi les gauchistes détestent autant le gaz de schiste…