Saudi Prince: Fracking Is Threat To Kingdom

For more information on Prince Alwaleed, who also owns a 19% stake in Fox News, please click here.

As the fracking revolution eases demand for the kingdom’s oil and gas, a billionaire prince warns his nation to find new income.

Billionaire Prince Alwaleed bin Talal said the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues.

His warning comes as rising shale energy supplies in the United States cut global demand for Saudi oil. Continue reading