The Implications of Saudi Arabia becoming a Net Oil Importer
Ambrose
Evans-Pritchard, wrote last week in The Telegraph, Saudi oil well dries
up. He presented the following chart of projected Saudi oil
consumption, vertical bars, and production, dark blue line.By these
estimates, in 2022, Saudi Arabia will no longer be supplying oil into
global demand but will be competing in global demand for foreign oil.
Long before we reach the trade-off point, however, certain exigencies
will emerge.First consider the area on the chart between the two curves.
This area is highly correlated to their balance of trade and…Read more...http://oilprice.com/Energy/Crude-Oil/The-Implications-of-Saudi-Arabia-becoming-a-Net-Oil-Importer.html
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