Alwaleed warns of US shale danger to Saudi - FT.com

"Prince Alwaleed bin Talal, the billionaire Saudi Arabian investor, has warned that his country’s oil-dependent economy is increasingly vulnerable to competition from the US shale revolution, setting him at odds with his country’s oil ministry and Opec officials."
“Our country is facing continuous threat because of its almost total dependency on oil,” he wrote in the letter, copied to King Abdullah, Prince Alwaleed’s uncle, among others.

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