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My 1,000
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Saudi prince Alwaleed bin Talal has warned that his country's is in unless it moves away from oil. A huge 92 per cent of Saudi's comes from oil. The prince told his oil minister he needed to cut the on oil. He published a letter warning Gulf states and members of the Organisation of the Petroleum Exporting Countries () that demand for oil was "in continuous ". He wrote that Saudi Arabia's dependence on oil "is becoming a of concern for all." The prince owns in Apple, Twitter and Citigroup.

Prince Alwaleed warned the biggest to Saudi Arabia is from fracking – a that gets oil from shale and rock. The USA has cut for Saudi oil because it is producing its from fracking. It hopes to be self- in oil by 2020, which would be for Saudi. Alwaleed commented: "We see that North American shale gas production is an threat." Gulf countries see little threat from shale, although OPEC has said the needs to be looked at. The prince encouraged Saudi Arabia to in nuclear and solar energy production.

 
 

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