Financial Slump May Last up to Two Years
The oil minister of Saudi Arabia spoke at the Arab Conference for Mineral Resources in Jordan’s capital, Amman. He spoke about the world economic situation and the continued demand for the natural resources in the Middle East. Even though economic conditions are worsening, the pressure for the world’s natural resources will continue to increase. Specifically he stated, “The economic slump could continue for six months, one year, two years. But there will be development and growth in the world and the demand for all natural resources will increase”.
Jordan’s energy minister, Khaldoon Qtaishat, said that Jordan contains more than 40 billion metric tons of proven oil shale. He said the country signed six memorandums of understanding with international companies to explore oil shale. The Kingdom of Jordan also expects to start the commercial production of uranium by 2012. The minister also stated that Jordan possesses some 65,000 tons of uranium reserves.
Kasey Malcoun
