| The risks of Saudi oil consumption | |||
| June 10, 2013 | |||
| By Adam Rasmi | |||
| |||
|
According
to a Chatham House report, Saudi Arabia’s surging domestic oil
consumption – coupled with its inadequate supply growth – could turn the
kingdom into a net oil importer by 2038. Guzzling more than a quarter
of its 11.1 million barrel per day production in 2011, Saudi Arabia
is the fifth-largest oil consumer in the world. The kingdom even
recently surpassed Germany’s consumption level, despite having less than
one-third of Germany’s population and one-fifth of its economic output.
Continued consumption growth, if left unchecked, could devastate the
country’s economy in the coming years.
|
Michele Kearney's Nuclear Wire - Major Energy and Environmental News and Commentary affecting the Nuclear Industry. Nuclear Activities
No comments:
Post a Comment