Wednesday, February 8, 2012

Saudis face 'hidden energy crisis'



Source: Press TV
http://www.presstv.ir/detail/225438.html

Saudi Arabia is facing a “hidden energy crisis” and its vast domestic fuel consumption threatens its place in the world oil market, a report says.

According to a December 2011 report published by the British Chatham House non-governmental organization based in London, the “unrestrained” fuel consumption in Saudi Arabia shows that the current patterns of energy demand in the country are “wasting valuable resources.”

The patterns of energy demand in Saudi Arabia are also causing excessive pollution and making the country “vulnerable to economic and social crises,” the report adds.

Although Saudi Arabia is a member state of the Group of Twenty Finance Ministers and Central Bank Governors (G20) and the G20 members agreed in September 2009 to phase out “inefficient fossil fuel subsidies” in the medium term, Riyadh does not have an “overarching policy on energy consumption and claims it has no inefficient fossil fuel subsidies,” according to the Chatham House report.

The British organization also said in its report that the domestic energy consumption in Saudi Arabia could “limit its exports of oil within a decade.”

The Chatham House report added that the limitation in the Saudi oil exports would have “a severe effect on government spending, over 80 percent of which is dependent on oil revenues.”

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

Russian / Ukraine War - (Mar 08th, 2024)

How the Ukraine War Changed the World - (Mar 01st, 2024)

Redacted - Egypt's betrayal of Palestine - Vanessa Beeley

CrossTalk | Magical thinking - (Feb 28th, 2024)

Hillary Clinton Interrupted & Called Out in Berlin

We don’t want war with Israel, but if they impose it on us, we are ready – Hezbollah

ICJ delivers ruling in favour of South Africa

ICJ ruling | Court stops short of ordering Gaza ceasefire, demands that Israel prevent genocide

South Africa's Closing Argument Against Israel for Genocide at the ICJ

Wider Middle East war. US, UK strike Yemen

U.S., UK Start Another Unwinnable War In Yemen

Geopolitical Storm Brewing from Palestine to Ukraine

How the US Global Order is Challenged - With Pepe Escobar (Nov 20, 2023)

Shahid Bolsen - Message to the Israeli people

Roger Waters - To Whom It May Concern: Please Stop.

US policy slowing down China's economy w/ Jeffrey Sachs

Max Blumenthal s destroys RFKJr's outrageous Israelí Propaganda

Totalitarianism, Censorship and Syria with Peter Lavelle, Vanessa Beeley & Kevork Almassian

Putin shows treaty on Ukraine’s neutrality, signed by Kiev but dumped under Western pressure

Assad's speech at the Arab League Summit - what it means for the future of the region

Assad returns to Arab League

HUGE China brokered deal, Iran & Saudi Arabia restore diplomatic ties

Nord Stream pipeline & sabotaging peace w/Jeffrey Sachs

The Tragedy of Ukraine

Historical Events that Led to the Start of the Ukraine Conflict

Your Wars Will Destroy the Planet - Roger Waters

Healthy Athletes suffer Heart Problems After Getting the Jab