The billionaire prince who says Saudi Arabia is in far bigger trouble than the other royals admit http://qz.com/109505/the-billionair...r-bigger-trouble-than-the-other-royals-admit/ A lot of hot air for PR or is this the truth? I can't imagine what this would mean for Houston if oil starts a decline toward the $70s. There seems to have been an uptick in construction, especially residential, since the start of this past winter in 2012. Commercial development seems to be ticking upward as of now. Of course, all of this is based of my daily commutes. Discuss.
I thought china's booming oil needs would handle the US's offset? Not much to diversify in the desert, maybe build another indoor waterpark or super-duper tall building?
I don't know how much I believe the article. The Saudis can pretty much open or close their spigots and control the world oil market, even with all the new-found deposits outside of the Middle East. I guess the article is referencing trouble down the road, a wakeup call: If we don't diversify now, in such-and-so years, we'll be etc etc.
I guess it means we probably need to diversify ourselves; although I think we've done a good job on remaining a hub for shale services and marketing, LNG exporting, NGL marketing, power deregulation and ETRM software development.
Well, I think it's true. Shifts in the energy business will mean the start of the decline of oil and of Saudi Arabia if they don't do more to diversify their economy. But, given how much oil is used now and given the growing appetites of BRIC countries, they've got plenty of time, I'd think. But, it'll take time to diversify, so they should probably step things up now.
THE SAUDI SUMMER Starring Zack Efron Synopsis: A young Arab man becomes disillusioned by his religion when he realizes he has to marry his 11 year-old cousin to inherent the family oil farm. Rotten Tomatoes: 73% -- Fresh
