We remember.
Posted on 01/31/2016 1:17:32 PM PST by Lorianne
Kingdom faces a future of higher taxes and low fuel subsidies amid fears the world's weakest oil producers will soon begin to buckle ___ Saudi Arabia faces years of tough austerity as the worst oil price crash in the modern history forces the kingdom to make radical cuts to government largesse, the International Monetary Fund has warned.
The world's largest producer of crude oil will need to "transform" its economy away from oil revenues, which make up more than 80pc of the government's wealth, according to Masood Ahmed, head of the Middle East department at the IMF.
The Saudi monarchy has already been forced to unveil the largest programme of government austerity in decades as oil prices have collapsed by more than 70pc in 18 months.
(Excerpt) Read more at telegraph.co.uk ...
Sounds like the IMF is already on the scene.
Russia, the US and Canada have vast oil and natural gas deposits that could easily be brought to the surface if the price is right. Saudi Arabia and the middle east as a whole will never again control the price of oil.
In fact, the landscape of energy as a whole has changed. While the idiots of the anti-carbon crowd where playing into the hands of the Saudis, the creation of new natural gas electric plants and even the small amounts of wind have created a huge change in the economics of coal and oil.
Its been hard to keep the high price of oil through politics, wars and government actions. But the Saudi’s have been able to for many years. However, fracking has let the horses out of the barn. And I doubt they could be put back now that electric cars will allow people to switch back and forth between gas and coal based energy and oil based energy. And electric plants can switch back and forth between coal and gas.
We remember.
his story is crap.
KSA is at war with Iran,
KSA wants Iran to go bankrupt........
KSA wants oil prices to be low.
KSA has lots of money in foreign reserves.
F*ck the Saudi Arabian B*stards!
They attacked us on September 11th, 2001
They currently support and finance Al-Qaeda/ISIS
The Saudis need to go back to the drawing board.
Normally, when oil is abundant and its price goes down, economies prosper.
Prosperity, in turn, creates the need for more oil, causing oil prices to go up again.
But the opposite of that has been occurring. China, the world’s biggest oil importer, is going through a recession, as are the U.S. and other major countries.
The Saudis need to figure out why this is happening before they too head for bankruptcy. Then they should take steps, such as lowering their oil production for awhile, to try to get the global oil situation back on an even keel.
Then they can start trying to destroy other nations’ oil industries once again if they so desire. If they continue to stand around doing nothing, they’re more doomed than the countries they’re trying to destroy.
When the Opecker oil exports dry up, they export millions Muslims/terrorists.
Not only that, but my understanding is that the Sauds have not been the most prolific at investing in new technologies or equipment. So they are dependent on old stuff and they now don’t have the money to buy new stuff.
I can’t wait for the day when those uncivilized Bedouins’ cities collapse and they drift back out into the desert, forsaking their Ferraris and Bentleys for camels once again.
I’m surprised to hear that about Clinton. Whatever he did in the ME was kinda before my time of awareness. Wasn’t his conflict Bosnia? Of course, that involved Muslims, didn’t it.
Imho, I’ve never understood why we went into Iraq & left Saudi alone. I get it about the oil, but it seems like they’ve been our ‘frienemy’ for a long time.
Maybe they weren’t just flooding the US with immigrants, but Arabs- primarily Saudis, I think, have been taking over the area where I live since well before September 11th.
I can’t wait for the day when those uncivilized Bedouins’ cities collapse and they drift back out into the desert, forsaking their Ferraris and Bentleys for camels once again.
Most people don't realize the very long connection the Saudis have to the Wahabbis.
The Saudis should be funding Islamic Jihad terrorism against us Kafirs.
They should not be aggrandizing wealth for their personal secular use.
That is why Sunni ISIS will want to overthrow them.
Shiite Iran will also want to overthrow them for more Iranian power in that area.
SA is facing a three pronged attack; economic, Shiite Iran , and Sunni ISIS who the Saudis helped create. -Tom
AND I suspect that the coal mines and coal will make a comeback after a certain interval else Mr. Soros would not have bought the coal companies.
It wasn’t about cheap oil. Sadaam would have almost given it to the US to make a deal. It was all about security of oil supplies
Saudi princes, Vladimir Putin, Hussein Obama, and Hugo Chavez blame those frackin Americans.
House of Saud really ramped up their funding to the clergy after the Mecca take over.
Theyve been in cahoots for over 200 years.
How do you say “Embrace the Suck” in Arabic?
Cut down on the number of wives?
Clinton sent cruise missiles to Bin Laden’s training camps after al Qaeda bombed two American embassies in Africa. Before that a truck bomb blew up in the garage of one of the World Trade Towers making it uninhabitable for months. In fact, during the whole of the Clinton administration there were ongoing terrorist attacks planned and executed against the US by Muslims. The 911 attacks were planned and the operation started at the end of the Clinton presidency, but they were carried out 7 months after George Bush took office.
I am not saying Clinton or Bush started this. Only that the governments of many middle eastern countries, especially the Saudi’s gave money and had tight relationships with both US presidents. Supporting tyrants has its pluses and its minuses. By the way, we have had a similar policy south of the boarder too.
Bwahahahahahaaaaaaaaaaaaaaaaaaaaaaaaaaaa. Back to tents and stinky camels.
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