Saudi Arabia outlines sweeping 15-year economic reform plan.

[Goatseye]

Teeqoz said:

Goatseye said:

They have deposits to sustain their economy for another century. The problem is that they never prepared for post-oil glut from the West and oil sufficiency from Asian giants. 

Everything is happening at a fast pace when shale oil technology is rapdly evolving and spreading worldwide. 

They have deposits to sustain their economy for another century....

 

 

... If the world continues to be reliant on [Saudi] oil. Which it won't, in two ways. One of which, as you are saying is that other countries are increasing their own production, the other being a switch that has just about begun, but which will bring about a massive change in the next five to ten years, especially in western countries.

5-10 years? In the US oil companies and Republicans are fighting tooth and nail so fossil fuel can be more prevalence than green alternative.

Fossil fuel is gonna be common a good 20-30 years as it become cheaper.