An interesting report from Saudi Arabia: the country’s king reportedly said at the weekend that he had ordered oil exploration cease in order to keep reserves for future generations.
From Dow Jones, quoting the Saudi Press Agency:
RIYADH (Zawya Dow Jones)–Saudi Arabia’s King Abdullah has ordered a halt to oil exploration operations to save the hydrocarbon wealth in the world’s top crude exporting nation for future generations, the official Saudi Press Agency, or SPA, reported late Saturday.
“I was heading a cabinet meeting and told them to pray to God the Almighty to give it a long life,” King Abdullah told Saudi scholars studying in Washington, according to SPA.
“I told them that I have ordered a halt to all oil explorations so part of this wealth is left for our sons and successors God willing,” he said.
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