ARTICLE: Saudis Seek Payments for Any Drop in Oil Revenues, By JAD MOUAWAD and ANDREW C. REVKIN, New York Times, October 13, 2009
Not the first time the Saudis have raised this notion: getting welfare for lost oil revenue as the Core deals with global warming.
It is simply a measure of the Saudis' incompetence in diversifying their economy after all these years.
Now, they want to be paid for their strategic stupidity.
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Comments (2)
Saudi Arabia is a historical anomaly that won't exist after the oil runs out.I can't see a SA in 100 years time.The Sauds will move to Lebanon and burn the last bits of their sovereign fund there.The Empty quarter will return to being the dusty backwater it mostly always has been.Selling trinkets and lodgings to Pilgrims won't sustain this Family's enterprise for long after the oil runs out.
Posted by Javaid Akhtar | November 19, 2009 3:28 PM
The most interesting thing here is how this shows the Saudis don't put much stock in "Peak Oil" -- and never have. As the article says, they've been after guarantees of demand for years, which makes no sense unless they foresee declines in demand that are bigger than any given drop in supply.
Posted by Hal O'Brien
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November 20, 2009 1:04 AM