The Saudi Prince of Oil Prices Vows to Drill ‘Every Last Molecule’
Saudi Arabia will drill all it has as after that’s gone the party is over. That won’t be the case for quite some time though as the reserve base is still very considerable. And demand won’t go down any time soon. There were various diversification efforts for the economy but that would require some economic freedoms their leaders are not comfortable with. So they will all fail. Their only threat is shale as their own reserves are starting to look pricey and shale is closer to market.
