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A Saudi billionaire prince has that his country's economy danger unless it away from oil. A whopping 92 per cent of Saudi Arabia's revenue from oil. Prince Alwaleed bin Talal told his nation's oil minister that Saudi to its dependence on oil. His open letter was for the world to see. In it, he other Gulf states and countries in the Organisation of the Petroleum Exporting Countries (OPEC) that demand for oil was "in continuous decline". Prince Alwaleed wrote: "Saudi Arabia is almost entirely dependent on oil and this reality is a source of concern for all." The prince is the world's 20th richest person and stakes in Apple, Twitter and Citigroup.

Prince Alwaleed warned the biggest threat to Saudi Arabia is from fracking – a technology that oil from shale and rock. The United States has its demand for Saudi oil because of its investment in its own from fracking. It to be self-sufficient in oil by 2020, which would be a huge blow for Saudi. Alwaleed this in his letter, stating: "We that rising North American shale gas production is an inevitable threat." Arabian oil executives have so far any threat from shale, although OPEC members have said the issue to be . The prince Saudi Arabia to invest in nuclear and solar energy production.