Ahmed Zaki Yamani, the former Saudi oil and mineral resources minister, and one of the most notable figures in the world of oil markets, believes that Opec lost much of its power after the Arab-Israeli war in 1973.
GENEVA - The Organization of Petroleum Exporting Countries will be unable to exist for another 50 years as the age of oil will end if hydrogen can be produced as an alternative energy source at a low cost,
Ahmed Zaki Yamani, former Saudi Arabian minister of oil and mineral resources, says in reference to the oil cartel marking its 50th anniversary this year.
Rubino: One of her long-time friends, former Saudi oil minister
Ahmed Zaki Yamani, told me that as an only child, she wanted to prove to her father that she was as capable as any boy.
Remember
Ahmed Zaki Yamani, the Saudi sheikh who was his country's shrewd and seemingly all-powerful oil minister through the oil shocks of the 1970s?
Sheik
Ahmed Zaki Yamani, Saudi Arabia's former oil minister and a founding architect of OPEC, already fears this--another round of innovations that drastically reduce gasoline and oil consumption.
The former Saudi oil minister, Sheik
Ahmed Zaki Yamani, once warned his OPEC colleagues something Putin should remember: "The Stone Age didn't end because we ran out of stones.'' It ended because we invented bronze tools, which were more productive.
Now, could it be that former Saudi Oil Minister
Ahmed Zaki Yamani was speaking on behalf of any oil producer when asked at an international conference what is the Saudi Arabia's oil policy and he shocked everyone in the audience by saying that we play it by ear.
With this in mind,
Ahmed Zaki Yamani -- the Saudi oil minister during the 1970s -- put it quite elegantly "Just as the Stone Age did not end for lack of stones, the Oil Age will not end for lack of oil".
While witnessing the signing ceremony and then the speeches thereafter, one also recalled the grand old man of the energy world,
Ahmed Zaki Yamani, underlining repeatedly before the energy fraternity to remember, "coal didn't end, coal era came to an end." Indeed in the remarks one can't fail noticing the interesting analogy to oil.
Lawyers from
Ahmed Zaki Yamani law firm are seeking an injunction because they are not convinced the sale of the factory in Gholail district will lead to the laborers being reimbursed what they are owed.
