Saudi Ambitious Hunt for Gas Ends in Disappointment

Bloomberg’s Wael Mahdi reports on the disappointing end of Saudi long search for gas:

The failure of Saudi Arabia’s gas ambitions would be felt around the world. The country needs the commodity to boost power generation, in turn freeing up more crude oil for export that otherwise would have been burned locally as Saudi energy use rises by 8 percent a year. A breakdown in talks may shut off foreigners’ last access to the nation’s hydrocarbon reserves.