Alwaleed bin Talal, one of the Saudi Princes, is warning his country that they need to diversify their country’s source of income.
The prince said: “Our country is facing a threat with the continuation of its near-complete reliance on oil, especially as 92% of the budget for this year depends on oil.
“It is necessary to diversify sources of revenue, establish a clear vision for that and start implementing it immediately.”
The prince said Saudi Arabia should move ahead with plans for nuclear and solar energy production to cut local consumption of oil.
– Sky News
Other member nations of OPEC are aware that their strangle hold on the world’s energy market is getting ready to die a slow death, but some have tried a different way to deal with this problem.
In January I noted that the movie Promised Land, starring Matt Damon, was at least partially financed by AD Media, which is owned by the government of the United Arab Emirates.
For those that care, the UAE gets anywhere from 60% to 90% of their budget each year from their oil sales. They have a vested interest in keeping the American public thinking that fracking will poison our children. You would have to be incredibly dense to think that the UAE doesn’t applaud movies that show fracking in a poor light.
That sure made me think the movie was being made by people with an interest in a fair and balanced view of fracking.
Hollywood has become even more obviously the front for propaganda. They’re essentially having OPEC bankroll their environmentalist claptrap.
And it is claptrap.
Multiple studies, many conducted by the federal government (most recently from the Department of Energy), have recently come out saying that their is no danger to drinking water (the most common fear among environmentalists) from the fracking process.
A landmark federal study on hydraulic fracturing, or fracking, shows no evidence that chemicals from the natural gas drilling process moved up to contaminate drinking water aquifers at a western Pennsylvania drilling site, the Department of Energy told The Associated Press.
After a year of monitoring, the researchers found that the chemical-laced fluids used to free gas trapped deep below the surface stayed thousands of feet below the shallower areas that supply drinking water, geologist Richard Hammack said.
Although the results are preliminary — the study is still ongoing — they are a boost to a natural gas industry that has fought complaints from environmental groups and property owners who call fracking dangerous.
– CBS News
Can environmentalists please move on now?
We need more sources of fuel. Have you seen the gas prices lately?
Of course that would assume that environmentalists actually care about facts or about mankind. I get the disturbing feelings that most of them would be happier if humanity went extinct.
They are basically the Agent Smith’s of the political world.