US & KSA Together we prevail: Riyadh Summit 2017

[Morpheus]

Every Saudi expects a 6 figure civil servant plush job... such a lifestyle is unsustainable in the $50 oil. Oil is done... time to pull your sleeves up and do some of the dirty work yourself ... question is... are the Saudi youth up to the challenge?... in a very competitive world??

Do you know what one of the youth said recently, “I just want my basic right to find a job without having to compete against non-Saudis for the position,”. With a mentality like that, it will be hard for the youth, not impossible, but hard.

That not to say they are not talented, but a fresh graduate want a job, that requires years of experience, right out of university.

 

[Clutch]

Those are only "facts" in your own head nor do does non-existent "facts" disprove the actual facts that I wrote.

I don't take "my uncle", "I talked to some cab driver", "I drove past some building site where no builders were present in the exact moment where I drove by, which took 5 seconds" etc. talk seriously. I look at actual facts and I know more or less which building sites have continued as nothing occurred, which were halted temporarily and which were ended (small amount) for the time being.

Even the construction workers at Kingdom Tower (the world's future tallest skyscraper) resumed their work recently.

You are painting a picture that does not correspondent to the reality.

As far as expats goes, their numbers will fall by each year to eventually reach a clear minority. That's where the development is going.

Anyway none of this has anything to do with the topic. There is a "Saudi Arabia economy and news" thread somewhere. You can start a discussion there based on facts (if you can provide them) and we can take a discussion there. Be my guest.

I am actually in favour of all the reforms the defacto kind of Saudi salaman is pushing.

This Saudification of the economy should have started decades ago. My only argument is that it is a little too late now... squandered resources cannot be of any use now.

Yes, this ties into the Trump visit and forum perfectly. The contracts being signed are empty promises being made by a desperate regime to safeguard their rule.

The facts remain ... Saudi is in serious trouble financially they cannot afford such lavish military contracts.

I still hope them the best... i see social upheaval as the future of Saudi unfortunately

 

[Saif al-Arab]

Some local heavyweights taking part. Looking forward to the end results.

https://twitter.com/SAUSCEOForum

I am actually in favour of all the reforms the defacto kind of Saudi salaman is pushing.

This Saudification of the economy should have started decades ago. My only argument is that it is a little too late now... squandered resources cannot be of any use now.

Yes, this ties into the Trump visit and forum perfectly. The contracts being signed are empty promises being made by a desperate regime to safeguard their rule.

The facts remain ... Saudi is in serious trouble financially they cannot afford such lavish military contracts.

I still hope them the best... i see social upheaval as the future of Saudi unfortunately

Ok, good for you. In fact KSA will vanish tomorrow. Happy now? Not only that the entire Arab world will vanish and all the world's 500 million Arabs. Diaspora included. Now leave us alone.

 

[Clutch]

Some local heavyweights taking part. Looking forward to the end results.

https://twitter.com/SAUSCEOForum



Ok, good for you. In fact KSA will vanish tomorrow. Happy now? Not only that the entire Arab world will vanish and all the world's 500 million Arabs. Diaspora included. Now leave us alone.

I never said that..

Anyways all the best to the Saudis. It is a start nevertheless...
I

 

[Gomig-21]

That is a misconception... electrification of the auto industry does not need to take over the 51% of the market share. It just needs to take over 20% to upset the apple cart.

Upsetting and finishing off are two separate things, though.

There are countless papers who support this model. Shale oil is abundant ... there is too much of it... multi staged hydraulic fracturing with horizontal wells with legs over 2 km are here to stay. Sorry Saudi... OPEC has also lost its monopoly.

Shale oil is also expensive to refine and a lot of electric cars still require some gas to re-energize the batteries. I'm not saying it won't get impacted, just won't be finished off for a while.

 

[Saif al-Arab]

Upsetting and finishing off are two separate things, though.



Shale oil is also expensive to refine and a lot of electric cars still require some gas to re-energize the batteries. I'm not saying it won't get impacted, just won't be finished off for a while.

Precisely. It makes little sense to discuss the death of oil in the next 1-2 decades IMO.

Sub-Saharan Africa, South Asia, China, South East Asia, Arab world and other very populous areas of the world will rely/import oil for a long time to come. In fact most likely long before they move on to other energy sources, KSA will be independent from oil income. That's not to say, as I wrote previously, that KSA will not make good use of its oil reserves. Besides KSA has one of the largest gas reserves in the world, some of the largest shale oil reserves (the irony), trillions worth of minerals and other natural resources, trillions wroth of investment abroad, the by far largest sovereign wealth fund, growing and continuously increasing non-oil/gas sector, KSA being predicted by virtually every future economic prognosis to remain in the top 20 (G-20 major economies members state) but not only that move into top 15/14.

https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html

A growing population (one of the keys for a future growing economy rather than stagnation), one of the most educated populations in the Muslim world and world by then (already today this is the case let alone in 2-3 decades!), most or at least large parts of Saudi Vision 2030 being implemented etc.

Current economic situation where almost 25 million natives nor 9 million expats pay any taxes whatsoever almost (this is one of the main incomes of every government) which will change as well and bring with it 100's of billions of dollars.

KSA is basically one of the last countries that I would bet against in terms of a bleak economic future.

Deals signed such as those today (mutual investments worth billions upon billions of dollars) and many previous just this year alone with the likes of China, Japan, European states, Muslim states etc. also gives a good indication of people/governments/firms having a lot of trust in KSA and seeing a lot of potential.

If someones wants to see real economic trouble they should look at Venezuela which has the largest oil reserves in the world (although they are more costly to extract than KSA's which are one of the cheapest to extract) and a similar population as KSA (35 million). It's like comparing the GCC with, you guessed it correctly, the average Muslim country. Makes zero sense.

Anyway pointless discussion. Let them predict doom and gloom for all I care. Not that the ground realities will change due to this reason. Also this has nothing to do with the topic at hand but since they refuse to stay on topic I have to repeat myself a bit.

 

[Clutch]

Upsetting and finishing off are two separate things, though.



Shale oil is also expensive to refine and a lot of electric cars still require some gas to re-energize the batteries. I'm not saying it won't get impacted, just won't be finished off for a while.

This maybe going a bit off topic... however shale costs have declines drastically since the 2013-14 decline. We are now seeing from a single pad 3 km horizontal legs with over 130 stages of frac using over 8,000 tons of proppant (sand used to keep fracs open)... this is huge!... and started lated 2016 in Dakota's bakken shale not down to Texas. Increases of over 60% production.

You only need to look at the global shale map... google it. There is too much of it! It is a misconception to think shale is too expense ... never underestimated the advancement of technology.

Same goes for electrification... tesla model 3 is going to shake the apple cart. Watch and see.

Since the 2014 downturn the OPEC cartel has tried to control the price of oil. They failed miserably. The American shale producers are now producing more oil than the Saudis. The writing is on the wall.

This visit by Trump is from trumps point of view an opportunity for him to revive his approval rating. For the Saudis Regine it is an opportunity to safeguard their rule. The contracts being signed are a desperate sign of the times. Both parties represent the old... the old sole superpower who is witnessing the tilt to Asia (I.e rise of the new superpower China)... and the old economic energy powerhouse the Saudis... both are clutching at straws.

Everything I state is with respect. It takes true visionary to accept the facts without allowing personal emotions to get in the way.

 

[HannibalBarca]

Precisely. It makes little sense to discuss the death of oil in the next 1-2 decades IMO.

Sub-Saharan Africa, South Asia, China, South East Asia, Arab world and other very populous areas of the world will rely/import oil for a long time to come. In fact most likely long before they move on to other energy sources, KSA will be independent from oil income. That's not to say, as I wrote previously, that KSA will not make good use of its oil reserves. Besides KSA has one of the largest gas reserves in the world, some of the largest shale oil reserves (the irony), trillions worth of minerals and other natural resources, trillions wroth of investment abroad, the by far largest sovereign wealth fund, growing and continuously increasing non-oil/gas sector, KSA being predicted by virtually every future economic prognosis to remain in the top 20 (G-20 major economies members state) but not only that move into top 15/14.

https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html

A growing population (one of the keys for a future growing economy rather than stagnation), one of the most educated populations in the Muslim world and world by then, most or at least large parts of Saudi Vision 2030 being implemented etc.

Current economic situation where almost 25 million natives nor 9 million expats pay any taxes whatsoever almost (this is one of the main incomes of every government) which will change as well and bring with it 100's of billions of dollars.

KSA is basically one of the last countries that I would bet against in terms of a bleak economic future.

No one knows about the future... a social mutation in or outside the country could change whatever plans they may want to put on track...

But IMO you will never have a strong KSA if you don't have a strong Muslim world...whatever economically or socially...

So if KSA want to remain as it is... or even better/stronger/greater... she has to make those around her ...even more powerfull...

I'm not taking it out of my hate... it's just an obesrvation of those past 1400 years of our region... The Holder of our faith was srong... at only one condition... when the land of muslims around were also strong... (Today it's not... and even far from it...)

Anyway ...will see... Hoping for the good...

 

[Saif al-Arab]

No one knows about the future... a social mutation in or outside the country could change whatever plans they may want to put on track...

But IMO you will never have a strong KSA if you don't have a strong Muslim world...whatever economically or socially...

So if KSA want to remain as it is... or even better/stringer/greater... she has to make those around her ...even more powerfull...

I'm not taking it out of my hate... it's just an obesrvation of those past 1400 years of our region... The Holder of our faith was srong... at only one condition... when the land of muslims around were also strong...

Anyway ...will see... Hoping for the good...

That's exactly what KSA is doing in the immediate region (GCC, Arab world). GCC is basically leading the current Arab world on the economic, political, military and educational front. I believe that this role will increase and I can only see Egypt and Iraq (potentially and mostly due to their past roles on this front, potential and future populations) joining the GCC in this tandem and together shape the immediate future of the Arab world or Mashriq at least. I at least believe this and have good reasons to believe so.
In the Maghreb I can see Morocco and Algeria doing something similar potentially (Mauritania, Tunisia and Libya have too small populations currently and in the future to be able to truly rival/challenge Morocco and Algeria) in that region of the Arab world.

Anyway the optimal thing of course would be further political and economic integration in the Arab world firstly initiated by regional blocs such as the GCC, Arab Maghreb Union and similar current and future regional blocs. Today there are too many political, social and economic stumbling blocks for private investors, goods and in general trade although the Arab League has initiated some reforms (much needed) on this front. Yet it is nowhere as good as it should be. On this front we can and must learn from the EU next door but for us to reach such a level we need a few decades of political and social development and to mature. This is mostly due to the leaderships in power as there are enough of educated people to initiate this process already. With Saudi Vision 2030 this process has accelerated in KSA lately and will continue to accelerate. Other Arab countries should initiate similar visions so this process can be accelerated depending on where they stand in this development process. However I am quite sure that this will occur one day. But for now each country should improve itself first and foremost as nobody else will do it.

As for the non-Arab world and regions next to the Arab world (South Asia, Horn of Africa/Sub-Saharan Africa and Europe) I believe that we should increase ties on all fronts in particular with similar developing regions that we have historical ties to on many fronts such as South Asia, Horn of Africa/Sub-Saharan Africa. In particular Sub-Saharan Africa/Horn of Africa, just due to the sheer future populations (largest in the world), is a area that we Arabs should reach as we have many assists in our hands here that non-Arabs don't have aside from the obvious such as geography. That's why I am happy that so many Sub-Saharan/Horn of Africa countries have joined the IMA.

Yes, they have a lot of problems currently but so do we and ALL other developing regions (of course not always as big as theirs) but I do believe that it is a question of time before they start a process of improvement which we can already see. It would be incredibly foolish to underestimate them let alone ignore them. In 50-100 years time the world will look very differently and current day powers/relevant countries can be overtaken by countries that people do not thing much about today due to inevitable demographic, political and economic changes. Who would have believed, just 80 years ago, that China would become what it is? Sure many people were possibly convinced that they would develop for the better (largely thanks to their huge population) but this is more or less the same thing that will occur with that part of the world on a smaller scale as there is not a single country that is as populous or big as China. However this can happen regionally instead. That's why I can't take those persons who predict doom and gloom for the Arab world too seriously given the evident facts that disprove such theories let alone simple logic and history. Very short-sighted views that I saw examples of in this thread earlier in regards to KSA.....Nothing more to add on this front other than what has already been written.

 

[Clutch]

the only way to defeat Islamic terror is to go after the radical Imams and madrasas. the Saudi King and his family know if they clamp down on Wahhabism that the masses will turn on them. It'll be like the French Revolution. I think the Saudi King likes having his head on his neck.

Only a small Saudis are actual followers of wahab... I.e wahabbisism. As you falsely stated most of them do not have controls over maddrasas (which actually means school... no doesn't need to be religious). Their main control is over mecca and Medina.... And even that has largely been diminished.

Too bad most people get their info from the Internets or fox news.

 

[The SC]

RIYADH, Saudi Arabia, May 20, 2017 /PRNewswire/ -- Today the United States and the Kingdom of Saudi Arabia (KSA) took major steps to enhance global security and stimulate economic progress in the United States and the Middle East. KSA has expressed its intent to procure more than $28 billion worth of Lockheed Martin integrated air and missile defense, combat ships, tactical aircraft and rotary wing technologies and programs.

http://news.lockheedmartin.com/2017...-Saudi-Arabia-Ties-To-Bolster-Global-Security

P-8 Poseidon?

That is the only tactical aircraft missing in the KSA inventory


Minister of Finance: The agreement for localization of the arms industry in the Kingdom is an investment agreement and not a purchase of weapons and details will be announced in time by the competent authorities.



The most prominent 15 agreements between the two sides:

• Saudi Aramco: $ 50 billion deals with US companies.

• GE signed deals worth $ 15 billion in industry and mining.

• Arab Raytheon will develop air defense systems and smart weapons in Saudi Arabia.

• ExxonMobil and SABIC: Petro-chemical production project agreements.

• Lockheed Martin: Support for the assembly of 150 Blackhawk S-70 helicopters in Saudi Arabia.

• General Dynamics will further localize the design, manufacture and support of armored combat vehicles.

• Design of offshore drilling platforms with $ 7 billion with Rowan.

• Nabors extends $ 9 billion joint oil drilling project.

• Aramco and National Oilwell: a new joint venture of $ 6 billion.

Wetherford: Projects worth $ 2 billion to settle oilfield goods and services.

• Dow Chemical: Building a polymer production facility and studying other projects.

• McDermott: Memorandum of $ 2.8 billion for the settlement of Aramco's goods and services.

• Honeywell: A $ 3.6 billion note for projects with Aramco.

• Agreement to buy planes between Saudi and Boeing.

• Jacobs Engineering: $ 250 million memorandum of understanding for oil projects.

Riyadh
Posted on: Saturday 20 May 2017 - 8:43 pm | Last Updated: Saturday, 20 May 2017 - 8:43 PM

US President Donald Trump described his first day in Saudi Arabia on Saturday as "a wonderful day."

"It was a wonderful day, huge investments in the United States, hundreds of billions of dollars in investments in the United States, jobs, jobs and jobs," Trump said.

After meeting Saudi King Salman bin Abdul Aziz, Trump held a meeting with Crown Prince of Saudi Arabia Prince Mohammed bin Nayef.

Earlier in the day, King Salman and President Trump signed an agreement called "Common Strategic Vision" between the two countries at the Al Yamama Palace in Riyadh.

The two leaders signed a number of agreements between the two countries estimated at about 280 billion dollars, which is expected to provide hundreds of thousands of jobs in both countries, but the White House announced earlier that «the value of agreements and memorandums of understanding signed between Riyadh and Washington estimated at 350 billion dollars in 10 Years".

The White House announced earlier today, the defense agreements between the Kingdom and the United States of America worth about 110 billion dollars.



51 companies representing the heart of the US economy participated in the Chief Executives Forum
Saturday May 20, 2017

The US president's visit to Riyadh was accompanied by an important representation of the largest US companies, including major banks such as JP Morgan, Morgan Stanley and Citigroup, with total assets exceeding $ 5 trillion last year, roughly the size of the combined economy of Canada and Germany, for example.

During the historic visit of Donald Trump to Saudi Arabia, the signing of deals and agreements worth hundreds of billions, shows the importance of the economic aspect in the relations between the two parties.

The US delegation is attended by senior executives from the largest investment companies and investment funds in the United States to explore investment opportunities and strengthen the partnership between Saudi Arabia and the United States in vital sectors including oil, gas, aviation, healthcare, technology, manufacturing and infrastructure.

These efforts are aimed at expanding the scope of trade between the two countries to contribute to the localization of jobs and the creation of new jobs in the Kingdom in line with the vision of the Kingdom 2030.

Among the participants are the presidents of the three major US banks, and oil companies, notably ExxonMobil, the world's largest listed oil company by market value of $ 347 billion, and National Oilwell Varco with a market cap of over $ 13 billion.

Four major oil service companies, Baker Hughes, Halliburton, Schlumberger Weather, and Ford, also contributed $ 60 billion in gross revenues last year, equal to the size of Luxembourg's economy.

The largest asset management companies, notably Blackstone Group and CARLYLE Group, which have assets of nearly $ 500 billion, are also in the size of Belgium's economy.

https://vid.alarabiya.net/2017/05/20/mmm205/mmm205___mmm205_video.mp4

 

[EgyptianAmerican]

Please never bring this dude up ever again, he is a distasteful c*** who needs to be wiped off Earth ASAP. Almost threw up and flung myself off the top of a 7 story building by seeing this dumbass again.

I seriously dislike seeing the Shahada so close to this c***'s face. It feels like his presence is tainting it.Like seriously please get rid of this.

 

[The SC]

ARAB ISLAMIC AMERICAN SUMMIT

Gulf leaders and US President take a souvenir photo

https://twitter.com/x/status/866221669538562049

 

[Panzerkampf]

So the so called IMA turned out to be an U.S. puppet group.

 

[Fledgingwings]

If Iran withdraws from its proxies in yemen and syria,things shall start to get back into the shape again.