Ceylal
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Saudi economic Mirages
A DEVELOPMENT PLAN BUILT ON SAND
EAST XXI > MAGAZINE > JEAN-PIERRE SERENI > MAY 17, 2016
"Plan Vision 2030 " presented by Mohammed bin Salman, the king's son, was adopted April 25, 2016 by the Board of the Saudi ministers. He gives fifteen years to replace the oil revenues of the kingdom by a much more liberal financial rent.
For the first time since the outbreak of the oil crisis there are now two years old, a United Nations Member State of the Petroleum Exporting Countries ( OPEC ), Saudi Arabia, has an extensive program to cope . " Vision 2030 " , the plan adopted April 25, 2016 by the Board of the Saudi ministers, proposes to change from top to bottom economy first crude exporter in the world and rid the kingdom of his favorite drug, oil which so far has given him most of its currency and almost all of its budget revenue. He gives fifteen years to eliminate its dependence on black gold and to acquire an "economy standard ."
The future of oil is indeed far from certain in a world that is past few years of the energy shortage in overflow. It was ten years ago, consumer countries dreaded peak oil, that is to say when oil production is lagging behind consumption ; today they are crowded with expensive crude inventories, gas, coal, power plants stopped, renewable energy too costly and too risky nuclear. In uncertain markets adds price volatility that make permanently yoyo and overreact to shots of a disturbing political news and unbridled financial speculation. For Saudi Arabia and for all oil producing countries, this means unbearable deficits and unemployment, including youth, dangerous to the established order.
A DEVELOPMENT PLAN BUILT ON SAND
EAST XXI > MAGAZINE > JEAN-PIERRE SERENI > MAY 17, 2016
"Plan Vision 2030 " presented by Mohammed bin Salman, the king's son, was adopted April 25, 2016 by the Board of the Saudi ministers. He gives fifteen years to replace the oil revenues of the kingdom by a much more liberal financial rent.
For the first time since the outbreak of the oil crisis there are now two years old, a United Nations Member State of the Petroleum Exporting Countries ( OPEC ), Saudi Arabia, has an extensive program to cope . " Vision 2030 " , the plan adopted April 25, 2016 by the Board of the Saudi ministers, proposes to change from top to bottom economy first crude exporter in the world and rid the kingdom of his favorite drug, oil which so far has given him most of its currency and almost all of its budget revenue. He gives fifteen years to eliminate its dependence on black gold and to acquire an "economy standard ."
The future of oil is indeed far from certain in a world that is past few years of the energy shortage in overflow. It was ten years ago, consumer countries dreaded peak oil, that is to say when oil production is lagging behind consumption ; today they are crowded with expensive crude inventories, gas, coal, power plants stopped, renewable energy too costly and too risky nuclear. In uncertain markets adds price volatility that make permanently yoyo and overreact to shots of a disturbing political news and unbridled financial speculation. For Saudi Arabia and for all oil producing countries, this means unbearable deficits and unemployment, including youth, dangerous to the established order.
