Saudi Arabia agrees on plan to "live without oil by 2020"

mentalfloss

mentalfloss

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Saudi Arabia agrees plans to move away from oil profits

The Saudi cabinet has approved sweeping economic reforms aimed at moving the country away from its dependence on oil profits.

Just over 70% of revenues came from oil last year but it has been hit by falling prices.

One part of the plan will see shares sold in state-owned oil giant Aramco to create a sovereign wealth fund.

Announcing the reforms, Deputy Crown Prince Mohammed bin Salman described his country as being addicted to oil.

The Vision 2030 plan, he told the Saudi-owned Al-Arabiya news channel, would ensure "we can live without oil by 2020".

Saudi Arabia agrees plans to move away from oil profits - BBC News
 
captain morgan

captain morgan

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mentalfloss said:
Saudi Arabia agrees plans to move away from oil profits

The Vision 2030 plan, he told the Saudi-owned Al-Arabiya news channel, would ensure "we can live without oil by 2020".

Saudi Arabia agrees plans to move away from oil profits - BBC News
Click to expand...

Hilarious... You fall for this sh*t hook line and sinker every time.

Tell me Floss, who will be defining what oil profits are in a nation where the Saudis need $100/bbl oil to balance the books?

.. Also kinda curious about exactly how they will re-gig their entire society and economy to live without oil in the next 4 years
 
MHz

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Better stick with oil and NG to Africa. A failed invasion doesn't look good on the Thug List, . . . .but it will get you a spot all the same.
 
IdRatherBeSkiing

IdRatherBeSkiing

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Me thinks they are calculating the result of such a statement on the oil futures market (likely predicting a jump in crude prices) which will help them in the short term.
 
MHz

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captain morgan said:
Tell me Floss, who will be defining what oil profits are in a nation where the Saudis need $100/bbl oil to balance the books?
Click to expand...
Considering their citizens are kelp in the stone age as much as possible the cost per person isn't all that high so for them to not have money at something less (when Russia breaks even at $8bbl) means big oil is getting 99$bbl and they are getting $1, or whatever the actual split is.
 
Angstrom

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mentalfloss said:
Saudi Arabia agrees plans to move away from oil profits

The Saudi cabinet has approved sweeping economic reforms aimed at moving the country away from its dependence on oil profits.

Just over 70% of revenues came from oil last year but it has been hit by falling prices.

One part of the plan will see shares sold in state-owned oil giant Aramco to create a sovereign wealth fund.

Announcing the reforms, Deputy Crown Prince Mohammed bin Salman described his country as being addicted to oil.

The Vision 2030 plan, he told the Saudi-owned Al-Arabiya news channel, would ensure "we can live without oil by 2020".

Saudi Arabia agrees plans to move away from oil profits - BBC News
Click to expand...

Them ****ers be running out soon :lol:

That or it's a trick
 
Locutus

Locutus

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these magic bean threads of his are hilarious. and he's not clever enough to deep troll so Imma chalk it up to low-functioning chemical-addled gray matter and naivete.
 
MHz

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IdRatherBeSkiing said:
Me thinks they are calculating the result of such a statement on the oil futures market (likely predicting a jump in crude prices) which will help them in the short term.
Click to expand...
Who is paying for their invasion of Yemen and all the money they have spent buying US weapons for ISIS and their like?? Air strikes are the most expensive and you get the least gains for your money.

If there is a big push for a carbon tax then the 'blueprint' seems to be to drop the price of crude to pennies on the dollar and kill expensive exploration costs. Rather than that free up a bunch of money for 'other things that involves the poor' the luxuries will become so expensive that the rich can have many shoes and the poor still do not get any shoes, . . . . or electricity.
 
captain morgan

captain morgan

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MHz said:
Considering their citizens are kelp in the stone age as much as possible the cost per person isn't all that high so for them to not have money at something less (when Russia breaks even at $8bbl) means big oil is getting 99$bbl and they are getting $1, or whatever the actual split is.
Click to expand...

You are talking strictly Opex costs. It is more realistic to consider the fiscal break even costs for a nation.

For Saudi, it is around $100

 
MHz

MHz

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The IMF??? Really??? Aren't they the ones that are selling bolts to the Pentagon at $500 a pop?? ($2.3T, poof)
 
darkbeaver

darkbeaver

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A joke? The price of sand of course is about to skyrocket. Where do these rediculous articles come form? Is this poster bored?

How would they finance there other major export? A merican weapons manufactories would grind to a halt. We can't have that sort of delay when it isn't necessary, find an enemy idiot.

The threats to democrazy are legion.
 
bill barilko

bill barilko

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I've actually seen foodstuffs from Saudi on the shelves here more & more the past few years-dates, olives, & hot sauce of all things.

They're going to have to produce a helluva lotta the stuff to make 1% of the money they raked in with petroleum though.
 
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