Monday, October 26, 2015

If the price of oil stays below $50 a barrel for 5 years, Saudis may run out of cash

Cory Doctorow,

image from article

If oil stays below $50 a barrel for five years, the Saudis' cash reserve will be exhausted, and with it will also go the social stability that lavish spending for the Saudi elites brings.
Likewise on the chopping block would be the other Saudi export: super-conservative, misogynist, militant Islam, which is the jewel of the Saudi public diplomacy strategy. ...

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