OTC: 'Marshall Plan' needed to fund OPEC members, analysts say

05/17/2004
Saudi Arabia and other members of the Organization of Petroleum Exporting Countries may need the energy market equivalent of the post-World War II Marshall Plan to lift their growing populations above the poverty level and ensure a sound and secure energy future for the world, said a Houston investment banker at the recent Offshore Technology Conference in Houston."It would make sense, from a long-term planning model, for us to hope that Saudi Arabia creates the prosperity of about $15,000/capita," said Matthew Simmons, chairman and CEO of Simmons & Co. International, at a topical luncheon May 5 at OTC.But with a growing population that's projected to reach 40 million by 2014 from 24 ...
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