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Who would have predicted 30 years ago that a Saudi sovereign fund would invest in an electric car company ? Symbolically that is a pretty potent signal.
by seren 8y ago
Who would have predicted 30 years ago that a Saudi sovereign fund would invest in an electric car company ?
Symbolically that is a pretty potent signal.
- creaghpatr 8y agoHedging their bets, not the worst idea.
- zeusk 8y ago> Hedging ... not the worst idea Not at Tesla's valuation
- pmart123 8y agoYep. I believe the Saudi sovereign wealth fund has divested from or has mandates to divest from fossil fuel related investments. https://www.theguardian.com/business/2016/apr/01/saudi-arabia-plans-to-sell-state-oil-assets-to-create-2tn-wealth-fund https://www.theguardian.com/business/2016/apr/01/saudi-arabi...
- dagss 8y agoIt would be much weirder (crazy?) for Saudis to invest in oil. They have lots of fresh income when oil goes well, so the fund should be designed to do well if oil does not go well.
- melling 8y agoHow much longer will their oil last? They need to invest for life after oil.
- dagss 8y agoSaudi Arabia might have enough oil to last until demands drops..... It is also some of the cheapest oil to extract, so sometime before they might start lowering prices to push everyone else out of the market. Keep in mind their production is restrained now to keep prices high.
- dragonwriter 8y ago> Who would have predicted 30 years ago that a Saudi sovereign fund would invest in an electric car company ? Pretty much everyone; the fact that Saudi Arabia and Kuwait has been for years investing large amounts of oil-derived funds in both a wide array of other fields, including alternative energy, was one of the things that created the difference in economic interests between them and Iraq that was among the sources of the disputes which saw their anti-Iran alliance breaking up and Iraq invading Kuwait and threatening Saudi Arabia in 1990.
- bredren 8y agoNorway, too, has invested heavily in alternative energy.
- 21 8y agoAhmed Zaki Yamani who was the Minister of Oil for Saudi Arabia for more than twenty years: > The Stone Age didn’t end for lack of stone, and the oil age will end long before the world runs out of oil.
- pandasun 8y agoWhat does this mean? It sounds interesting. Thank you.