Posted on 10/23/2022 4:10:52 AM PDT by FarCenter
Hundreds of CEOs and finance moguls are expected in Riyadh from Tuesday for a Davos-style investment conference that analysts say will highlight Saudi Arabia's geopolitical muscle despite strained ties with the US.
The Future Investment Initiative (FII) was launched in 2017 as an economic coming-out party for the world's largest crude exporter, which is trying to diversify away from oil under Crown Prince Mohammed bin Salman.
The following year's edition, however, was largely overshadowed by the killing several weeks prior of journalist Jamal Khashoggi, and many would-be delegates from outside the region stayed away.
Attendance picked up in 2019, even if some executives sought to fly under the radar, flipping their name cards behind their coats or hiding them behind their ties, underscoring fears of a reputational cost for doing business in the kingdom.
This year's FII, often referred to as "Davos in the Desert", comes after a months-long process of re-engagement with the West by Prince Mohammed, who US intelligence agents determined approved the operation against Khashoggi –- a charge Riyadh denies.
The kingdom's de facto ruler has received visits this year from then-UK prime minister Boris Johnson, French President Emmanuel Macron and even US President Joe Biden, who had previously vowed to make Saudi Arabia a "pariah".
The meetings underline the kingdom's growing clout amid an energy crisis resulting from Russia's invasion of Ukraine.
The same can be said for the lineup at FII, which runs Tuesday to Thursday, of more than 6,000 delegates and 500 speakers, 200 more than the previous high.
"The combination of the war in Ukraine, the energy crisis and oil price rises has given Saudi Arabia a greater level of geopolitical and economic influence this year relative to every previous FII bar the first one in 2017," said Kristian Ulrichsen, at Rice University.
(Excerpt) Read more at france24.com ...
Strained relations with Brandon….because he’s a moron
It’s a sign of the end of the Uni-Polar Global American Empire, using the Petrodollar as it’s backbone. Meaning: you needed dollars to make petroleum purchases.
The Saudis were the other part of the Petrodollar, going back to Kissinger and the Nixon era, when the USA closed the gold window.
When the Saudis bolt the Petrodollar, it’s game over.
That’s why the 101st is in Romania, and all the rest. It’s a desperation try to preserve American hegemony, at least over Europe, by force.
It’s the mother of all Thucydides Traps.
If your country wants to burn fossil fuels for energy, it listens to Russia and Saudi Arabia.
If your country wants to spend (at least) 5 times as much on energy via wind/solar/batteries, it listens to the Globalists (Davos).
Pretty easy decision for virtually all non-Western countries.
I’ve been to Dubai (right next door to Saudi Arabia) several times. One of those visits was in October. The heat was like an oven,very different than what you’d experience in Florida.OTOH,my January visits were quite comfortable. I just can’t see any place in that region being a resort...at least not between March and November.
So where do I move my widow’s mite?
We are so screwed.
The good thing about our fossil fuels. They’re still there. Pray for sanity and new leadership then drill baby drill.
What would happen if the oil and gas industry just ignored the presidential pronouncements and started producing and refining?
The scenes showing Borat's home village were filmed in the Romanian village of Glod, which is primarily Roma.
https://en.wikipedia.org/wiki/Borat
Dittos. At the end of the third quarter all the E&P boys were saying we’re not increasing capex next year no matter what the price of oil is, meaning they could see where sleepy Joe was headed. The current prices and the rig count reinforce that sentiment.
The meeting and face of Power is in Riyadh. The money is in the UAE
Europe is eclipsed as the center of power and money by the foolish Biden attempt to force Riyadh to save his sorry ass.
The future is east of Suez
Spent 20 years in the ME...and it can get a tad warm there...lol.
Then there are the March winds...
I heard a comedian once talking about the heat in Arizona. He said that it’s described as a “dry heat”.He then says “my oven’s a dry heat too but I don’t go sticking my head in it”.
The spending, the burning of bridges, fomenting war, and the SWIFT action all hurt the US.
Global power is shifting.
Does that equate to sandstorms in March?
Yep... something to see when the storm is heading to you.
I’ve only seen pictures. I remember seeing a pic when I was young and I thought it was fake.
Yes it is, and it’s unstoppable....unless there is a global war to burn everything to ashes, including all the bad paper debt.
Looks like a huge wall.
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