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Saudi Arabia’s $500 Billion Bet On A Future Without Oil
Oilprice ^ | Oct 26, 2022 | Tsvetana Paraskova

Posted on 10/27/2022 12:52:44 PM PDT by nickcarraway

Saudi Arabia bills it as the city of the future to diversity and grow its economy. Critics say Saudi Crown Prince Mohammed bin Salman’s futuristic city in the desert that will be a narrow line more than 100 miles long is a pipe dream. The futuristic NEOM project is a key pillar of Saudi Arabia’s Vision 2030 program to boost and diversify its economy, according to the Vision 2030 website. NEOM and its three so-called ‘regions,’ the Line, Oxagon, and Trojena, are to be built on 26,500 square kilometers (10,230 square miles) in northwestern Saudi Arabia and will introduce a new model of urban sustainability where residents “will embrace a culture of exploration, risk-taking and diversity.”

But the entire project, estimated to cost around $500 billion, is not without controversies, ranging from doubts that the highly ambitious architectural and planning design can even be achieved, to human rights abuses, which are not uncommon in the Kingdom.

This summer , the Crown Prince revealed the design for THE LINE, the futuristic city with no roads, cars, or emissions, which will run on 100% renewable energy, and 95% of the land will be preserved for nature.

“The designs revealed today for the city’s vertically layered communities will challenge the traditional flat, horizontal cities and create a model for nature preservation and enhanced human livability. THE LINE will tackle the challenges facing humanity in urban life today and will shine a light on alternative ways to live,” the Crown Prince said in July.

Last week, Saudi Arabian aerial photography company Ot Sky released drone footage showing heavy construction machinery starting work on The Line.

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs; News/Current Events
KEYWORDS: finance; oil; saudiarabia
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1 posted on 10/27/2022 12:52:44 PM PDT by nickcarraway
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To: nickcarraway

Were it not for oil the people of the Arabian Peninsula would still be sleeping in the sand with their camels.


2 posted on 10/27/2022 12:56:32 PM PDT by Gay State Conservative (I Miss Jimmy Carter)
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To: nickcarraway

We have bled the Middle East dry of oil, nearly.

They have no choice but to become Disney Arabia and Vegas World


3 posted on 10/27/2022 12:57:07 PM PDT by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: nickcarraway

Abandoned 100 mile ruin discovered in desert, scientists say.
Possibly from the first green interegnum before the return
of the Hydro-carbon economy.


4 posted on 10/27/2022 12:57:31 PM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: Gay State Conservative

And in order to live the future they have lead in ending the idiotic wars against Israel and recognize it as a sovereign legitimate state


5 posted on 10/27/2022 12:59:01 PM PDT by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: nickcarraway

I give those oil rich countries in the ME credit for foresseing the day when oil can no longer support their economies, and investing in diversification.


6 posted on 10/27/2022 1:04:32 PM PDT by Bruce Campbells Chin
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To: Bruce Campbells Chin

If you want to see what tomorrowland looks like, visit the gulf states. Dubai, Doha,...etc. They do have a vision.


7 posted on 10/27/2022 1:11:51 PM PDT by D Rider ( )
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To: nickcarraway

Dumbest idea …EVAH!


8 posted on 10/27/2022 1:21:57 PM PDT by House Atreides (I’m now ULTRA-MAGA-PRO-MAX)
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To: Bruce Campbells Chin

It’s surprisingly visionary. I wonder if they thought it up or if it’s the work of a European or US consulting firm of some sort.


9 posted on 10/27/2022 1:22:43 PM PDT by Yardstick
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To: nickcarraway

Ozymandius


10 posted on 10/27/2022 1:27:08 PM PDT by slouper (LWRC SPR 5.5 6)
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To: Vendome

“We have bled the Middle East dry of oil, nearly.

They have no choice but to become Disney Arabia and Vegas World”

Uh, no.

Oil reserves:

Saudi Arabia by itself: 269 billion barrels, 2nd in the world.

Venezuela is Number 1 at 300 billion barrels.


11 posted on 10/27/2022 1:28:25 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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To: nickcarraway

It won’t be finished in my lifetime, but it is nice to see someone trying something different for a change. Visionary—yes—Doable? There will be snags and certain realities will pop up necessitating changes, but all in all, its their country and their vision. Good Luck to them.


12 posted on 10/27/2022 1:29:47 PM PDT by abigkahuna
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To: nickcarraway
OK, I give? What are they going to for Plastic manufacture, Lubricents, tires, back up fuel, asphalt for roads, petrochemical drugs, ... This is not well thought out.
13 posted on 10/27/2022 1:35:13 PM PDT by mountainlion (Live well for those that did not make it back.)
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To: nickcarraway

everyone lives in a high rise?


14 posted on 10/27/2022 1:39:14 PM PDT by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
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To: mountainlion

They will use oil of course, like everyone else.


15 posted on 10/27/2022 1:41:46 PM PDT by SaxxonWoods (The only way to secure your own future is to create it yourself.)
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To: nickcarraway

Residents in this planned city in Saudi Arabia will embrace a culture of diversity??

Perhaps diversity means something different in Saudi Arabia than it does in the western world?


16 posted on 10/27/2022 1:53:22 PM PDT by Dilbert San Diego
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To: nickcarraway

There is NO way the world can “decarbonize,” in any significant way, based on present technology or political reality.

As long as Saudi Arabia has oil, they can easily sell it.


17 posted on 10/27/2022 2:02:23 PM PDT by PGR88
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To: nickcarraway

Aah …. they have money to piss away. WGAS.


18 posted on 10/27/2022 2:06:17 PM PDT by wardamneagle
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To: nickcarraway

Saudi Arabia’s $500 Billion Bet On A Future Without Oil Revenue


19 posted on 10/27/2022 2:30:24 PM PDT by PIF (They came for me and mine ... now its your turn)
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To: Vendome

Not thinking that the keepers of the big black rock will do that anytime soon.


20 posted on 10/27/2022 2:40:47 PM PDT by CletusVanDamme (I'll say it again, in the Land of the Free, use your freedom of choice!)
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