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Seems so. The 32 yr old who apparently is now running the country has a plan for Saudi to become the main provider of power to Europe via solar power and a big cable.

In other words, they still wish to control us and have our leaders sucking up to them?

Isn't it a bit of a smybiotic relationship

We give them bits of paper for something we currently need (oil) and then we get the bits of paper back by giving them an endless supply of weapons so they can all kill each other

And when we don't need their oil anymore - thanks v much and fck off

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You only need to look at the rest of the region to figure that one out.

Ironically, Saudi are also geographically perfectly placed to move into a leadership position on solar, too.

Will they though?

KSA's Solar plans are all talk. When I was there they were pronouncing 50GW by 2020. By 2016 most English counties have more solar power than the whole of KSA.

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Rhubarb, I knew it. :) Well, at least it was clear it needed to be something that plants do... This will be a bigger, or at least as big, game changer as the Internet. However, we were supposed to exclusively use jet packs and hovercrafts already decades ago.

Edited by Silverfinger
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"In Saudi Arabia itself, the government seems unable to cope with the crisis. The 'Arab News' says that 31,000 Saudi and other foreign workers have lodged complaints with the government’s labour ministry over unpaid wages. On one occasion, the Indian consulate and expatriates brought food to the workers so that their people should not starve"

 

No wonder the Tories are in love with the Saudi's ! Although to be fair the Tories would have let them starve.

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Feeling The Oil Crunch: Saudi Arabia Cancels $266 Billion In Projects

 

Saudi Arabia’s governing economic body called the Council of Economic and Development Affairs (CEDA) has cancelled $266.7 billion in projects, the Saudi Press Agency said, and announced it would be settling much-delayed private-sector payments by year end.

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Arabs struggle to decode Trump's Mideast rhetoric

The future leader of the Middle East's top foreign ally is, in the words of a Saudi prince, an anti-Muslim "disgrace", openly disdainful of Arab security partnerships, who believes Saudi Arabia would cease to exist for long without the United States. Donald Trump's presidential election victory means he is the man Washington's Arab allies must deal with after his January inauguration, as they seek U.S. help to end wars from Syria to Mosul, manage humanitarian crises and provide jobs for their populations at a time of low oil prices.

Brief, congratulatory messages flowed quickly from Arab allies, including one from Saudi King Salman bin Abdulaziz, who wished Trump success in "achieving security and stability in the Middle East and the wider world". But underneath the protocol, for many Arab rulers and royals Trump’s victory is a source of anxiety. They now face a new America led by Trump who, they fear, could upend a regional order that has prevailed for decades. Reuters

Edited by rollover
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Fitch downgrades Saudi Arabia to A+, cites oil price and skepticism over reform agenda.

Quote

Fitch Ratings cut its assessment of Saudi Arabia's credit quality on Wednesday, citing deterioration of state finances due to low oil prices and doubts over whether Riyadh can achieve its economic reform plans.

Prices of Saudi bonds stayed firm, however.

Fitch downgraded Saudi Arabia by one notch to A+ with a stable outlook from AA- with a negative outlook. It said that that while the leadership was strongly committed to diversifying the economy beyond oil, that intention might not be enough.

"In Fitch's view, the scale of the reform agenda risks overwhelming the government's administrative capacity," the ratings agency said in a statement, .

It said planned hikes in domestic energy prices to cut the government's subsidy burden could severely hurt energy-intensive industries, while higher fees for hiring foreign workers -- part of an effort to increase employment for Saudi citizens -- could undermine large parts of the private sector.

http://www.reuters.com/article/saudi-arabia-downgrade-bonds-idUSL5N1GZ4O6

 

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2 hours ago, zugzwang said:

Fitch downgrades Saudi Arabia to A+, cites oil price and skepticism over reform agenda.

 

Back of envelope calc :

Current oil price : US 50.

Saudi price to balance budget : US 100.

Saudi pumps 10 million barrels per day. So is currently losing 50x10 million = US 1/2 billion per day, or about US 180 billion PA.

Current Saudi GDP is around 650 billion US pa.

This doesn't look great.

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2 hours ago, Gigantic Purple Slug said:

Back of envelope calc :

Current oil price : US 50.

Saudi price to balance budget : US 100.

Saudi pumps 10 million barrels per day. So is currently losing 50x10 million = US 1/2 billion per day, or about US 180 billion PA.

Current Saudi GDP is around 650 billion US pa.

This doesn't look great.

sounds like the SNP's independence manifesto doesn't it?

 

don't get me wrong, when saudi v iran kicks off(there will also be proxies as we see in syria+yemen),it will send oil prices into the stratosphere for 6 months or so(no oil supply from mid east..period), then it will completely collapse to 10-20USD as the yanks roll out all that new technology they've been hiding...and OPEC will cease to exist.

 

now would be a good time for westminster to do a buy-back in part of scottish oil,and create a norwegian style sovereign wealth fund.Probably also worth teaming up with norway+denmark+canada for a joint project in greenland.

 

we will still need oil, just from much more politically stable sources.

Edited by oracle
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  • 2 months later...

 

Quote

 

Qatar denounces 'unjustified' cut of diplomatic ties by Saudi Arabia, Egypt, UAE and Bahrain

Qatar has hit out at the decision of five Arab nations to cut military and diplomatic ties with the country, saying there is "no legitimate justification" for the move. The Foreign Affairs Ministry of Qatar said it had been the victim of a "campaign of lies" designed to destabilise the region, hours after Bahrain, Egypt, Saudi Arabia and the UAE declared they would be severing all ties.

Saudi Arabia said it took the decision to cut diplomatic ties due to Qatar's "embrace of various terrorist and sectarian groups aimed at destabilising the region" including the Muslim Brotherhood and ISIS.

Qatar may deny the quotes attributed to its Emir Thani, but it does not deny reports that Mr Thani called Iranian President Hasan Rouhani on 27 May to congratulate him on his re-election.It has been interpreted as an overt challenge to Saudi Arabia's efforts to corral all its Sunni Arab neighbours against Shia Iran, which it sees as its greatest threat in the region. Independent

 

Something big is going on there, probably related to low oil prices.

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Emboldened by Trumps visit and "kind" words for Iran.

Perhaps the penny has dropped in the Whitehouse that his words/tweets have real consequences now.

Lets hope this sorts itself out quietly because the area of Saudi that borders Qatar and Bahrain is the part with the oil.

Its also the area with a large Shiite population...

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19 hours ago, rollover said:

 

Something big is going on there, probably related to low oil prices.

Seemed to come out of nowhere (but might be due to how crap the do called quality news is).

 

Another thing that we don't hear much about I'd the war is Yemen, which is silently bankrupting and therefore destabilising Saudi!

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1 hour ago, Roman Roady said:

Emboldened by Trumps visit and "kind" words for Iran.

Perhaps the penny has dropped in the Whitehouse that his words/tweets have real consequences now.

Lets hope this sorts itself out quietly because the area of Saudi that borders Qatar and Bahrain is the part with the oil.

Its also the area with a large Shiite population...

The dispute over which version of Islam is correct is still an issue 1400 years after Mo popped off. Wrt Bahrain (a Shi'ite majority state under Sunni dictatorship) this cheery quote may add some value.

"In this context, the deputy commander of the Iranian Revolutionary Guard Gen. Hossein Salami told the official Iranian news agency Islamic Republic News Agency that “The victory in Aleppo will pave the way for liberating Bahrain,” pointing out that Iran has an expansion project that will extend to Bahrain, Yemen and Mosul after the fall of the Syrian city of Aleppo.

Salami said that “the people of Bahrain will achieve their wishes, the Yemeni people will be delighted, and the residents of Mosul will taste victory, these are all divine promises,” as he put it."

https://english.alarabiya.net/en/features/2016/12/16/Iran-s-Revolutionary-Guard-After-Aleppo-we-will-intervene-in-Bahrain-and-Yemen.html

Hugh Fitzgerald's  take:  https://www.jihadwatch.org/2016/12/hugh-fitzgerald-sunnis-and-shia-at-the-ok-corral

I say lets let em sort it out - God can choose his own.

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3 hours ago, hotairmail said:

 

The Qataris paid $1bn to 'extreme islamists' (according to Saudi) to free some Royal family members who were captured on a falconry expedition in Iraq.

In fact $700m is said to have gone to Iran and $300m to Shia militias.

Saudi blaming others for funding terrorism is like the pot calling the kettle black. They're probably more bothered they are the wrong sort of Muslim.

 

https://www.ft.com/content/dd033082-49e9-11e7-a3f4-c742b9791d43

The $1bn hostage deal that enraged Qatar’s Gulf rivals

Doha reportedly paid al-Qaeda affiliate and Iran to win release of royal hunting party

 

As I understand Shia miltia kidnapped the Qatari royals and held them hostage for the release of Shia prisoners being held captive by Al Qaeda linked Sunni factions in Syria. The latter were only willing to trade in return for a big payoff so the final deal was that $700 million got paid to Iran and  $300 million to the Sunni militants in Syria. As a result the Qataris had to pay off both sides in the conflict to get their royals back in one piece. Of course, the Yanks are trying to spin this as Iran backing Islamic Sunni terrorists which makes no sense at all to anyone who knows a smidgeon about the Middle East but which they are presumably hoping will be swallowed whole by dumb voters in the west. The bad news for our rulers is that one impact of so many terror outrages in the UK and elsewhere in Europe is that some people here are now inevitably getting clued up as to some of the things that are going on in the Gulf. In particular people are starting to notice that many of the perpetrators of terror attacks in Europe appear to have had close associations with Mosques funded and supported by the Sunni Gulf states. Of course, what has seen accurately described as the 'Traitor Class' that run the UK are desperately trying to avoid this inconvenient fact from being brought to the publics attention during the current election

http://www.independent.co.uk/news/uk/terror-funding-report-home-office-saudi-arabia-jihadis-attacks-suppress-tory-uk-release-sensitive-a7773146.html

Edited by stormymonday_2011
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