Posted on 02/01/2016 8:48:23 AM PST by rktman
The Saudis may have to completely change their economy after the crash of oil prices. The Middle East head of the International Monetary Fund thinks the Saudi Arabian government is going to have to admit its reliance on oil as the focus of its financial success isn’t enough. Via The Telegraph: (emphasis mine)
(Excerpt) Read more at hotair.com ...
Sand for kitty litter boxes....I sense a cartel about to form.
Not a single person in that country has the slightest concept of how to do any real work.
How much does sand cost per ton?
Who cares about them. Those fat, corrupted shieks have ripped us all off for years. Let them eat the oil or cook up fried camels with it.
Several years ago I read that they had to import sand for water filtration because the sand there was unsuitable.
They’ve been talking about this for years. Certain steps have been taken, especially within the educational arena, but they’d have been better off pushing hard before the cash reserves started to dwindle. The biggest problem the Saudis will face is competition from their neighbors who have got a head start. But they can still afford it; the question will be, will the people support it?
The Sauds probably also understand that the price of oil is probably not going to rebound to the high levels of the past because the break-even price for American oil is steadily declining. At a little above that price fracked oil can be pumped out copiously enough to hold that price pretty level while technology continues to develop and the B-E declines continually further. The Sauds did the world a favor by restricting output and forcing the price into the petrostratosphere thus providing the financing of the technology that brought the price back down.
They’re going to have to kidnap a lot more Americans to make up that difference.
A guy at work who has Afghan heritage said the same damn thing about what goes on in the middle east and its true, things will not last forever and if that does happen, $hit will hit the fan.
I remember these stories back in the 1970s. Then, they were pushing economic diversification because they could afford it because oil was at a high. They screwed it up then. And unless they allow a lot more freedom and capitalism into their country, they will screw it up again.
“And unless they allow a lot more freedom and capitalism into their country, they will screw it up again.”
The only way any freedom or capitalism will get into S.A. will be if both the House of Saud and Islam itself are defeated. I expect to see the House of Saud fall any day, but I’m not so optimistic about the fall of Islam in that part of the world.
The Arabs got lucky they sat on top of oil formations.
The Arabs are lazy people, the Pyramids in Egypt were built by Jewish slaves being whipped by Egyptian soldiers.
The oil money has been squandered, not spent for the future. OPEC ripped us off and we let them because they bought off our corrupt politicians.
Bush let to Bin Laden family slink away from the USA just after 911 attacks. The Bush family let them go.
The Bushes are Saudi agents.
“The Bushes are Saudi agents.”
As are quite a few of those in our legislative and executive branches.
Up to now it has paid great, but there might be a pay-cut coming.
Well, they’re into “drifting!” Take a look at their “results:
https://www.youtube.com/watch?v=Bf-z_0Iiot8
Talk about stupid!
The Saudi econmy is based on Oil and foreign intellectual capitol + foreign workers.
Save for the permanent status of slavery (replaced with low cost workers that can NOT become subjects of the Crown) a it resembles Pre-Civil war Southern states (replace Cotton with Oil) And much like the rise of Cotton out side of the US South the rise of Frac-Oil is ending the semi monopoly status of the OPEC / Saudi. They will need to diversify to be sure but I do not see any real natural resources to work with nor the population base to do much either.
C.B.Demill made a great (and both historically an biblically incarcerate ) movie.
Many of the great works in Egypt are or were in many way the WPA of the ancient world. The Nile defines Egypt and it provided a cyclical farming economy and as we know when people are not doing anything they often foment to revolt. The system of ancient mega structures provided both work to produce income and work to keep idle hands busy.
Talk about coals to Newcastle! ;-)
Probably will reopen the slave market for infidels, especially beautiful blonde Christians.
“What, exactly, have you been doing for the last 30 years with the trillions of dollars of wealth transfers from Western nations into your coffers?”
Pooping in solid gold crappers and abandoning new Mercedes Benzs when they got a flat tire.
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