Its part of the reason why Mohammad bin Salman in Saudi Arabia had to curb the power of the thousands of princelings in Saudi and also force the to pay back much of their skimmings from the Saudi State.
The Kingdom is going bankrupt.
That’s a very good thing, IMHO
SA has issues with their economy’s dependency on petro revenue, granted.
However, Wall Street and the US government will *not* allow the kingdom to go bankrupt.
Death of the petro-dollar is unfathomable to Wall Street and the US Fed Gov.
The Kingdom is going bankrupt.
Exactly. And the kingdom is also moderating from from ultra strict, right-wing Wahhabism to a middle of the road Muslim state. They’re actually gonna let women drive!
And if there were no other accomplishments of the Trump administration - there are many others, of course - this alone would rank Trump as No. 1 president in the last 70 years, in my book.
Can anyone recommend some oil stocks I could buy to profit form this?