Will the Saudis Import Oil Starting in 2030?
Christopher Helman, Forbes
The idea that Saudi Arabia could become an oil importer by 2030 is laughable. But that’s the scenario outlined in a report this week by Citigroup analyst Heidy Rehman. Looking at the Kingdom’s growth in power demand (much of which is generated by burning oil), Saudi Arabia’s domestic demand is on track to suck up ever more of its oil production to the point that there’s nothing left for export.http://www.forbes.com/sites/christopherhelman/2012/09/04/saudi-arabia-to-become-an-oil-importer-heres-how-they-can-avoid-it/
The idea that Saudi Arabia could become an oil importer by 2030 is laughable. But that’s the scenario outlined in a report this week by Citigroup analyst Heidy Rehman. Looking at the Kingdom’s growth in power demand (much of which is generated by burning oil), Saudi Arabia’s domestic demand is on track to suck up ever more of its oil production to the point that there’s nothing left for export.http://www.forbes.com/sites/christopherhelman/2012/09/04/saudi-arabia-to-become-an-oil-importer-heres-how-they-can-avoid-it/
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