Saudi Arabia is open for business. That was my impression of the Crown Prince's reforms on women's liberties and the political shakedown on ruling family members and peers in 2018.
Oil reserves don't last forever; they're depletable. I used to say that Saudi Arabia's oil money (profits) won't last; that the kingdom will have to diversify its economy. Was Riyadh now appealing to the prospect of tourism and foreign direct investment? It wasn't until I read The Green New Deal (Jeremy Rifkin) that I considered not only the supply side of oil. Rifkin talks about aggregated energy efficiency, or the energy bang for your buck). The increasing efficiency of renewable energy will place it in greater demand year after year.
Jubalyn ExWilliams lives in Pennsylvania (United States). You can find her writings and commentaries, including "Why I think Saudi Arabia is modernizing itself now," at landturn.com/blog.
Related: Saudi Arabia's smart city an example of my impression of its initial cultural reforms (2024)
Related: Amid sanctions, Qatar's boost in oil production indicative of its oil dependence (2019) Related: One way COVID could force economic depression on African nations (2020) Related: "The Green New Deal" (Rifkin) (2019) Related: Why oil companies in Africa could concede to reforestation (2019) Related: Former astronaut trainee, 82, to fulfill dream aboard commercial space flight (2021)
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6/5/2024 15:47:02
It turns out that NEOM is one Saudi project for the "tourism and foreign direct investment." Above, I noted that the 2018 "reforms on women's liberties and... political shakedown on ruling family members" gave me the impression that the Crown Prince wanted to modernize Saudi Arabia's image for the global future of its economy.
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