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The Forum > Article Comments > Saudi Arabia releases ambitious plan to diversify economy > Comments

Saudi Arabia releases ambitious plan to diversify economy : Comments

By Nicholas Cunningham, published 29/4/2016

Since then, Saudi Arabia has introduced some taxes for the first time, cut spending by about a quarter, trimmed energy subsidies, and raised money through the bond markets.

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Perhaps we should worry about the recurring reference to 2020. Does it mean that the Saudis will be producing only 7 or 8 mbpd by then? I note that oil rich Norway that has a $1 tr sovereign wealth fund buys the most electric cars outside the US. Unlike SA they don't need oil for desalination or electricity supply.

If SA say they can't maintain oil output I'd expect prices to escalate. The penny will finally drop that oil is finite. Early casualties will include air travel, solo car driving and food production.
Posted by Taswegian, Friday, 29 April 2016 8:15:00 AM
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Finally, some intelligence and future vision at the helm!?
Alan B.
Posted by Alan B., Friday, 29 April 2016 9:12:04 AM
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