Peak oil has Saudis in a panic to diversify their economy

A top Saudi oil ministry adviser declared his concern that a peak in oil demand had already occurred, or would take place in the next decade, and said that his country, which relies heavily on income from its crude oil exports, is alarmed enough about it to diversify its economy by striving to become a leading alternative energy exporter.

Source:
http://www.consumerenergyreport.com/2010/02/15/saudi-energy-adviser-alarmed-about-peak-oil-pushes-for-diversified-economy/http://www.consumerenergyreport.com/2010/02/15/saudi-energy-adviser-alarmed-about-peak-oil-pushes-for-d