Oil wars starting?
Wednesday, May 14th, 2008
Saudi Arabia has threatened to halt oil exports to Taiwan over Taipei’s reluctance to invest in Saudi Arabia’s power and water desalination plant, a report said Monday.
Saudi Arabia feels cheated by Taiwan’s delay to invest in the Independent Water & Power Provider project and has threatened to suspend oil exports to Taiwan, the United Daily News reported.
Saudi Arabia supplies 100 million barrels of oil to Taiwan annually, accounting for half of all oil imports.
‘If Saudi Arabia stops oil import to Taiwan for two weeks, Taiwan will face an oil crisis,’ the paper said.
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