Saudis to look at economy diversification due to oil price crash

hotair.com ^ | 1/31/2016 | Taylor Millard

[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)

[rktman]

Ruh Roh! Psssstttt. Hey, you middle eastern guys, remember the bargain you got from algore and the deal for 'current TV'? I hear he has some solar and wind power shares he'd be willing to make a deal with you on. No, really. Or you could invest in his carbon credit futures uh, endeavor.

[BenLurkin]

Eat sand, Saudis.

And drink saltwater.

[datura]

The price of hourly rental gots must be dropping.

[marron]

They could look to Dubai. They don’t have a lot of oil, so they have tried to become a mideastern Hong Kong.

Offer tax free trade, manufacturing, banking privacy, personal security, and the world will beat a path to your door.

[Obadiah]

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?

[moovova]

Build glass favorites.

[dfwgator]

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?

Spreading Wahabbism.

[r_barton]

Dubai has a fleet of about 75 A380 airliners (larger than a 747) and more on order for a total of 140. They fly all over the world with Dubai as the hub.

[bert]

http://www.sadara.com/en/

The writers are way behind the reality of events

the Saudi /Aramco/Dow Chemical Sadara project is the largest chemical plant ever built at one place at one time. it is located at Jubail, home of many petrochemical plants

[who_would_fardels_bear]

New Saudi industries:

1. Sand for sand bags
2. Sand for childrens' sandboxes
3. Sand for sand traps
4. Sand for hourglasses
5. Sand for pounding

[bert]

they do drink water from the Gulf that has been desalinized to be potable

they have been for decades

[captain_dave]

It’s going to be hard to change an economy built on caravan raiding, slave trading, camel herding and oil selling.

[bert]

they have developed all sorts of industry that not only provide products for the local GCC economy but for export

[catfish1957]

LMAO.... Oil, Sand, and Camels.....

Good luck with that!!!!!!!!!

[Eric in the Ozarks]

I heard the Saudis are introducing a line of stylish women’s clothing...

[Flavious_Maximus]

I wonder how many mosques (jihad barracks) they will still be building here in the USA now that they are officially broke.

[refermech]

I guess they could start selling their women.../S

[Junk Silver]

“My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel.”

Sheikh Rashid bin Saeed Al Maktoum, Dubai

[gleeaikin]

Using solar energy to produce electricity for Egypt comes to mind as well as Dubai ideas.

[petenmi]