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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (75933)	5/25/2010 10:39:56 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 149317

Sigh. Maybe the Cosmic Tanker will show up and give us a refill. Export Land Model at work in Saudi Arabia April 16th, 2010 Jeffrey Brown’s Export Land Model is proving prescient. From an article in The National (Abu Dubai): Saudi Arabia has emerged as the second-biggest source of global oil demand growth after China. Higher oil consumption in the Arab world’s biggest economy is forecast to account for 11.7 per cent of global expansion this year, the International Energy Agency (IEA) said. While that is still well behind China’s projected 26 per cent share of worldwide growth in oil consumption this year, the rising demand for crude and oil products in Saudi Arabia is outstripping increases in the major developing economies of Russia, Brazil and India. . . . Demand for petrol in Saudi Arabia which, like most Middle East countries, subsidises the cost of fuel for consumers, rose by 22.4 per cent in January compared with a year earlier, after expanding by 9 per cent last year, the IEA said. The preliminary data “suggest that growth this year may well reach double-digit figures”, the agency added. casafoodshed.org == Saudi Arabia’s long-standing status as a swing producer of crude oil could be drawing to a close according to the head of national oil company Saudi Aramco. Global oil exports from Saudi Arabia, the world's largest oil producer alongside Russia, will start to wane in the coming years as domestic demand surges and spare capacity drops, warned Khalid al-Falih, chief executive officer of Saudi Aramco in a speech published on the company's website. risk.net