Saudi Arabia may go broke before the US oil industry buckles

Voodoo_rasher

KingBrian2 wrote: »

They will have to watch themselves they have upcoming competitors Qatar, United Arab Emirates, Kuwait all of whom are far less abusive then Saudi Arabia, what those small countries lack in size they gain in international respectability plus ...

The ISIS funders Qatar - ill-gotten World Cup, ill-gotten stadia through slave labour - and international respectability occuring in the same sentence..Really! )

spiralism

Voodoo_rasher wrote: »

The ISIS funders Qatar - ill-gotten World Cup, ill-gotten stadia through slave labour - and international respectability occuring in the same sentence..Really! )

5,000 people will die building the stadiums and infrastructure for that world cup, which afterwards will never be used again. Just read that again and think about it. Five thousand.

Menas

spiralism wrote: »

5,000 people will die building the stadiums and infrastructure for that world cup, which afterwards will never be used again. Just read that again and think about it. Five thousand.

There will only be 64 world cup matches.

Thats 78 deaths per world cup match. Jesus

They reckon 1200 have died so far - 18 per match.

spiralism

Menas wrote: »

There will only be 64 world cup matches.

Thats 78 deaths per world cup match. Jesus

They reckon 1200 have died so far - 18 per match.

Lot of heads should be rolling about this but people's main concern is that the world cup will be on in the winter, never mind the mountain of dead bodies. And now since Blatter is on his way out to be replaced by some other stooge like Platini it will go ahead as planned.

Jesus christ though, it's bond villian level of evil going on there. The likes of Qatar are countries that should be boycotted internationally, not awarded the most prestigious event in sports. It's an ongoing problem, people will just follow the money and there's a ****ton of it out there. If it means endorsing slavery, racism and state sponsored terrorism who cares because they're all getting rich out of it.

smurfjed

Saudi Arabia plans to auction as much as SR20 billion ($5.3 billion) as part of a program to raise a maximum of SR100 billion by the end of the year, two people familiar with the matter said last week. The government confirmed last month it already sold SR15 billion of bonds in a direct sale to private investors.

They may not go broke as quickly as you would like.

shane9689

masculinist wrote: »

Let the Saudis live in their own excrement. They were not a colonized country and they never welcomed anyone foreign or different into their own country except for harbouring despots like Idi Amin. The west owes them nothing and has already given them money in return for oil beyond the dreams of the Arabian Nights tales. In their case any PC attempt to load some additional imaginary guilt onto the shoulders of Europeans wont work. Saudi is one of the most racist intolerant countries in the world and they still enslave Filipinos and bonded serfs from the poorest parts of India etc. Slavery there is very real.

That whole region is royally screwed. They desperately need unbelieveable amounts of water and how will they run desalination plants when there is no oil ? It's game over then. I predict the undeserving dictator royals of Saudi Arabia will take their trillions and go live in Switzerland and leave their religiously brainwashed population behind. Poverty will bring humility and impotence. it is an unbelievabe absolute testament to their uselessness to the world that they have produced no industry , no big companies and nothing of value whatsoever despite multiple generations of them being gifted with free pensions and top class incomes for life in the form of oil.
I was just thinking. When have you ever bought a product which had a ''Made in Saudi Arabia'' label written on it? I can't even think of one.


.

My parents have drinking glasses from U.A.E !!!

smurfjed

Made in Saudi Arabia..... Soon to be on the streets of Europe :)

masculinist

shane9689 wrote: »

My parents have drinking glasses from U.A.E !!!

But what else do they have without oil ? When oil runs out, energy will be more expensive therefore flights there will be more expensive hence Europeans and Americans will vacation at home or closer to home in the med or Mexico etc. How will they run air conditioning, desalination plants [both essential for hotels] and maintain crumbling infrastructure ? It seems to me that with their beaches and hot weather , all they have is tourism. Nobody feels comfortable going to a place on holiday where you can get lashes for kissing your wife in public.

smurfjed wrote: »

Made in Saudi Arabia..... Soon to be on the streets of Europe :)

Thats something at least. I never heard of this brand. The Saudis tend to spend money to try and buy expertise but despite buying hundreds of thousands of hours of the best football coaches they never got anywhere near winning the world cup. They must have bought in German engineers etc. How many genuinely Saudi engineers made this vehicle ? How many genuinely Saudi engineers brought the oil from the wells to the surface?

smurfjed

How many genuinely Saudi engineers brought the oil from the wells to the surface?

Considering that happened in the 1930's/40's the answer is probably none.

But things have changed since 1940!

ToxicPaddy

nokia69 wrote: »

it depends on the field but saudi production costs are a lot lower than $30 a barrel, so yes the saudis are still selling oil at a profit, so are most of OPEC and Russia BTW, but thats not the issue

to balance the national budget the saudis need higher prices, they have a young growing population who expect to be kept in the style that they have become accustomed to, they also want to fund ISIS and the war in Yemen, all of these things are hard to do with oil below $100

Brazil are nowhere near the 5th or 6th largest reserves and Russia is NOT going back to the dark ages LOL

the Saudis however are in serious trouble IMO, Yemen is the future of the arab world, there is a massive war on the way to the middle east, its not going to be pretty

I said that Putin would push Russia back to dark ages to save face.. I didn't say they are going back to the dark ages :P

kupus

ToxicPaddy wrote: »

I said that Putin would push Russia back to dark ages to save face.. I didn't say they are going back to the dark ages :P

It's like that joke.....

How do you debate with a Russian?
You can't.

ToxicPaddy

UAE are planning for the future, they are currently planning to build 5 x nuclear power stations around the country. One is currently under way and the rest are apparently to come online in the next 20-30 years.

For a nation that has a decent size oil reserve, good international business operations, high end holiday and property market and is willing to attract westerners to work there, they seem to more forward looking than most of their neighbours.

Saudi Arabia is run by the minority for the minority, the really don't care about the general population there and everything is controlled by the top 1%. It's still very tribal apparently.

I know a few guys who lived there and while money is plentiful the attitude of the general population towards foreigners is hostile and unfriendly. If you're of Indian or African descent, you're nothing better than dirt.

The religious police are dangerous and corrupt and you never question anyone of power there or you're in trouble.

nokia69

smurfjed wrote: »

Made in Saudi Arabia..... Soon to be on the streets of Europe :)

I doubt it

would you like to buy a car made in Munich or a car made in Jeddah

its not much of a choice IMO

smurfjed

Saudi Arabia is run by the minority for the minority, the really don't care about the general population there and everything is controlled by the top 1%. It's still very tribal apparently.
I know a few guys who lived there and while money is plentiful the attitude of the general population towards foreigners is hostile and unfriendly.

Have you ever visited Saudi Arabia?

BattleCorp

masculinist wrote: »

But what else do they have without oil ? When oil runs out, energy will be more expensive therefore flights there will be more expensive hence Europeans and Americans will vacation at home or closer to home in the med or Mexico etc. How will they run air conditioning, desalination plants [both essential for hotels] and maintain crumbling infrastructure ? It seems to me that with their beaches and hot weather , all they have is tourism. Nobody feels comfortable going to a place on holiday where you can get lashes for kissing your wife in public.

They do have a very substantial natural resource apart from oil. They have a sh1t load of sun.

They will probably build huge solar farms. They have the money for building them and technology is improving all the time. The industrial uses for substances such as graphene have the potential to change the world. That would take care of a lot of their energy needs long term.


And now for something different, who kisses their wife in public? :pac::pac::pac:

smurfjed

They will probably build huge solar farms

They have started building them with a goal of supplying 30% of the daily domestic electrical power from solar rather than oil .

nokia69

smurfjed wrote: »

They have started building them with a goal of supplying 30% of the daily domestic electrical power from solar rather than oil .

but if the price of oil stays low for the next few years will they have the billions need to reach 30%

watching them go broke is going to be fun

smurfjed

watching them go broke is going to be fun

Not from where I'm looking!!

Columbia

Menas wrote: »

My comment has nothing to do with their race...it is their nationality. Two different things.
Had I said "hard to find anything to like about Arabs" then that would be different

I lived in the magic kingdom for 1.5 years, and this guy is right.

Saudi =/= Arab

As a people, they are pretty much entirely without merit. I will go back to KSA one more time in the future, once the whole place has disappeared back into the desert and I can have a damn good laugh.

I know plenty of Arabs, from half a dozen countries around the Mid East, and can't think of a single one with anything good to say about Saudi Arabia.

ToxicPaddy

smurfjed wrote: »

Have you ever visited Saudi Arabia?

I'd actually like to but never got the opportunity but I have a good few friends, some who have lived there for a few years, others who have went on 3-6 month contracts and all have said the same thing. Can so many be wrong?

KingBrian2

Columbia wrote: »

I lived in the magic kingdom for 1.5 years, and this guy is right.

Saudi =/= Arab

As a people, they are pretty much entirely without merit. I will go back to KSA one more time in the future, once the whole place has disappeared back into the desert and I can have a damn good laugh.

I know plenty of Arabs, from half a dozen countries around the Mid East, and can't think of a single one with anything good to say about Saudi Arabia.

Don't confuse Saudi Arabian monarchy with the Arab people. The Arabs don't want to be under a Wahhabi ideology. Not all Arabs are like the clerics who have all the wealth and power.

nokia69

KingBrian2 wrote: »

Don't confuse Saudi Arabian monarchy with the Arab people. The Arabs don't want to be under a Wahhabi ideology. Not all Arabs are like the clerics who have all the wealth and power.

if it was put to a free and fair vote tomorrow the people of saudi arabia would vote for a wahhabi type regime

BoJack Horseman

nokia69 wrote: »

if it was put to a free and fair vote tomorrow the people of saudi arabia would vote for a wahabi type regime

Indeedn, they know nothing else & would be terrified by change from the status quo.

Change is slow..... King Abdullah was a glacier for change.
The new King Salman, sadly, seems uninterested in change at all.

mullyboyee

Very interesting BBC documentary 'Inside the Saudi Kingdom' available online.

Follows one of the royal family and looks at how the country is changing, not nearly fast enough in my view.

smurfjed

if it was put to a free and fair vote tomorrow the people of saudi arabia would vote for a wahhabi type regime

I dont agree with you, if there was a vote tomorrow they would vote for whoever their tribal leaders told them to vote for, they would have a massive power play between the various tribes and even religions. The foreigners and that includes Saudis who cant trace their ancestors to Makkah. The result would be civil war.

It would remain to be seen if the tribal leaders considered themselves pious enough to lead.

masculinist

BattleCorp wrote: »

They do have a very substantial natural resource apart from oil. They have a sh1t load of sun.

So does all of Africa and huge tracts of Asia have sh1tloads of sun. Even the Arctic and Antarctic gets lots of sun - at cold temperatures which renders electronics and superconductors more efficient. I don't see any advantage for the Sauds. Besides, cold fusion will likely become a thing after they pay Germany a trillion for solar panels plus maintenance contracts. And nobody will want to proliferate cold fusion technology into unstable Islamic zones.

masculinist

smurfjed wrote: »

They have started building them with a goal of supplying 30% of the daily domestic electrical power from solar rather than oil .

That wont even desalinate the water they need. They will have to get used to living without air conditioning. Maybe its lucky for them that they have no industries, hence industry doesnt require water - at least thats an optimistic view ...lol

smurfjed

Maybe its lucky for them that they have no industries, hence industry doesnt require water

Where did you get the idea that they have no industries?

masculinist

smurfjed wrote: »

Where did you get the idea that they have no industries?

Ask people here how many items they bought which had 'made in Saudi Arabia' on it and they would struggle to think of anything apart from oil. They export terrorism and maybe they print off a few Korans perhaps ? Even the dates in the local supermarket have Made in Israel on them. Its all oil dependent and spin off companies also dependent on oil. How many patents came from that part of the world for another example ?

scamalert

So a **** country with their Islamic believes will turn into desert as its supposed to been.