Via Greg Scoblete, I see the Daily Telegraph is reporting that oil consumption in Saudi Arabia is way up, and oil production is way down. If you’re interested in discussions of energy, you should read this.
Why does it matter if Saudi Arabia becomes an oil importer instead of an exporter? Well, according to the CIA, Saudi Arabia was the world’s largest producer of oil, pumping over 10 million barrels per day. Potentially a big effect on the world economy.