Saudi Arabia, home to more proven oil reserves than any other nation, has an energy problem. HSBC estimates that this year the kingdom will burn 1.2 million barrels of oil a day to generate electricity, double the amount burned in 2010. With the amount of crude oil burned domestically climbing sharply, it is leaving less and less oil (NYSE
:USO) for exports.
http://peakoil.com/production/saudi-...nergy-problem/
http://www.reuters.com/article/2011/...7885ZX20110909
http://en.wikipedia.org/wiki/Export_land_model
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http://peakoil.com/production/saudi-...nergy-problem/
http://www.reuters.com/article/2011/...7885ZX20110909
http://en.wikipedia.org/wiki/Export_land_model
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