Black Gold needs more local usage
Oil is called the "Black Gold" but now a days it is loosing most of its glitter and charm.
It is good to sell the Black Gold when its prices are higher, and if its prices are lower then it is prudent to use it locally, in the energy intensive industries like Aluminum Smelting plant, Urea Plant and Steel furn-icing etc.
More of such industries can become good alternatives for the energy rich gulf economies.
It is unlikely that oil prices would cross 50 dollar per barrel in the near future, in the face of world peace and low economic growth in Europe and China.
Once the heavy industries are developed on large scale like QAFCO industries, they can firmly compete with any mega world company, because such industries achieve upsides via massive supply of cheap energy, which is already being produced locally in the GCC countries.
oil prices are at their lowest... petrol prices in Qatar to go up shortly !!
I am sure that the companies are already using oil or the best viable option. What would happen if they converted to oil and prices went up again