Over the past year Saudi Arabia has experienced a perfect storm of factors in its favor. Asset prices in the US economy and elsewhere have gone nuts. Saudi Arabia is a country that owns a lot of stock, land and everything else, so that’s been very helpful. On the oil market front, the most important front there is for Saudi Arabia, they’ve had unprecedented cooperation on the OPEC production slow-down, and a series of competitors have given up millions of barrels a day in production due to sundry wars and dictatorships.
If Saudi Arabia’s ambitious plans for the future were ever going to work, 2017 would have been the year for it. But as this video shows, some of the key metrics that illustrate the hole Saudi Arabia is in haven’t changed much at all. As I said in last year’s video, and as I repeat in today’s video… Saudi Arabia is still finished.
A lot of Saudi Arabia coverage focuses on the loose cannon effect the country has been having on Middle East politics for the past year. Little attention has been paid to the promises that have been made to the country, and the way those promises have not been honored. I thought it might be interesting to tell the story of 2017 from the perspective of Saudi Arabia’s rulers for once. I think it illuminates something many have been missing.
This video started out as a central idea I wanted to deliver about the Trump administration’s relationship with Saudi Arabia. Then it evolved into more of a Saudi Arabia year in review thing. This video is different from the recent ones in a number of ways. It tries to cover a lot, quickly. Not sure whether it’s worthwhile or not. Let me know @robbolaw