Industry Market Trends

To Our Readers: Happy Holidays from ThomasNet News!

December 20, 2013

ID-100219842Season’s Greetings, Loyal Readers: The holidays are a time to consider all that we’re thankful for, and you are on our list. You drove a tremendous 2013 for ThomasNet News with your Green & Clean Journal readership, sharing of our articles, and feedback on our content. We want to keep this momentum going. In 2014, you will see a more streamlined and improved ThomasNet News that will ensure you get the most complete picture of manufacturing, industry, and business anywhere. We will be introducing an exciting all-new platform over the next few months. Read More

Industry Market Trends

Saudis Say, "If You Can’t Beat ‘Em, Frack ‘Em"

December 20, 2013

frackingIt’s not that Saudi Arabia has the world’s largest reserves of oil or gas; the United States and Russia both have more. It’s that in Saudi Arabia, oil is so close to the surface, it’s much cheaper to extract than elsewhere. Stamp your foot in Saudi Arabia and you have an oil well. Fracking was developed to get to hard-to-reach oil and gas. So it makes sense to read circulating reports that as domestic oil consumption is rising in Saudi Arabia, the kingdom is turning to fracking to release huge amounts of shale gas and export more of its profitable oil. As IndustryWeek reported in the fall, the head of Saudi Aramco announced a deal where the state oil giant is to supply gas to a massive Saudi power plant project. “The world's largest oil exporter launched an unconventional gas program in northern Saudi Arabia two years ago, as it sought alternative domestic fuel supplies that would allow an expansion of lucrative oil exports,” the article noted. Read More