U.S. to overtake Saudi(and Russia) as top oil producer: IEA

Re: U.S. to overtake Saudi(and Russia) as top oil producer: IEA

And everyone in Saudi Arabia receives a check from the government.....the menial work is done by foreign workers from the far east......

When the checks stop coming they can expect revolution.....

history shows that whenever a nation (or individual) gets sudden unearned wealth, this always results in bankruptcy.

Spain in its colonial period is a great example....... for 200 years Silver imported from Peru made Spain the great world power,, and they borrowed and spent their way into bankruptcy......it is said that the king Phillip of Spain after the disaster of the destruction of the Spanish armada in 1588 finally had to borrow money for lamp oil to light his palace.......

[SAT]

Re: U.S. to overtake Saudi(and Russia) as top oil producer: IEA

This is the second article in just a few weeks. There is also an article in this thread.
Saudi says IMF's 2016 deficit forecast is "doomsday scenario"

http://wedg.millenniumweekend.org/fo...ad.php?t=40140

Post 8

U.S. oil output is surging so fast that the United States is catching up to Saudi Arabia as the world’s biggest producer

[SAT]

The United States will overtake Saudi Arabia and Russia as the world's top oil producer by 2017, the West's energy agency said on Monday, predicting Washington will come very close to achieving a previously unthinkable energy self-sufficiency.

http://www.reuters.com/article/2012/...8AB0IQ20121112