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Do you think this is part of a larger plan to get as much cash before they switch over to some other industry? I know they've been working on solar and other re
by norea-armozel 11y ago
Do you think this is part of a larger plan to get as much cash before they switch over to some other industry? I know they've been working on solar and other renewables, but are they investing in any firms outside of Saudi Arabia in that regard? I mean building a few solar plants is not much compared to say owning a specific share of a solar panel producer or its equivalent.
- ambicapter 11y agoHow are they going to 'switch over to some other industry'? They can't just turn on the scientist brigade the way you turn on an oil well.
- norea-armozel 11y agoThat's why I'm asking. Are they planning ahead or just playing financial chicken?
- simonh 11y agoThey've all been sinking money into sovereign wealth funds, and Dubai has been spending big on expanding it's airlines, promoting its airport as a global hub and developing a tourist industry. They're attempting to diversify their economies but whether or not any of that turns out to be sustainable without massive subsidies from oil profits is dubious.