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Post by newsun on Oct 26, 2015 23:49:05 GMT
Does anyone see the report on Saudi Arab economy by CNN. money.cnn.com/2015/10/25/investi ... ddle-east/ How it will effect on Aramco job? Does anyone have any thought? |
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Post by bogiefrommuskogee on Oct 27, 2015 1:37:37 GMT
That is simple math someone tries to apply to a government. Aramco is over 80% of Saudi's GDP. I think it will be around for awhile. What is the national debt of the USA? 20 trillion? As long as a country continues to produce something, it will keep going. Countries like Greece that produce little have a tougher row to hoe. Go google a chart of oil price history. You will find that $100 crude oil prices was a very short bubble. Historically it was much lower yet Aramco did quite well as did Saudi Arabia. Yes all GCC countries would like to see prices closer to $70 or $80. Major oil companies like Chevron or S need oil above $60 just to pay shareholder dividends and payroll. I think Aramco is the best place to be in the oil industry with low crude prices. The five year number assumes that the country's fiscal policy remains constant. It has nothing to do with Aramco.
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FPEPRO
Advanced Member
Posts: 58
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Post by FPEPRO on Oct 27, 2015 1:51:57 GMT
I would second everything Bogie just said, and also offer up my not-so-humble opinion... After years of traveling the world, I have pretty much lost every last bit of respect that I might have had for the US media. They tend to horrendously over-exaggerate and sensationalize everything, to the point of causing mass-panic, all in the name of ratings.
-CT
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Post by nallebjorn on Oct 28, 2015 13:02:52 GMT
Bogiefrommuskogie. Your reply is spot on!
However a recent article in Arab news; a top official from ministry of natural resources and energy has confirmed that government is reviewing its policy with regards to subsidized energy costs in the kingdom.
Nallebjörn
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