3 ms·

Saudi Arabia? I know they have money but it's like selling your chicken coop to a snake

• bovermyer 8y ago
  Why do you say that?
• WhompingWindows 8y ago
  No, it's Saudi Arabia attempting to diversify its holdings. If they've seen oil-rich countries fall again and again to low oil prices, it makes a lot of sense for them to hedge their bets and protect against the future where solar (they're investing a ton in this) and EVs may remain supreme. If these investments don't pan out, they still have a massive amount of very cheap oil reserves and will keep those longer than most other oil producers.
  • InitialLastName 8y ago
    >If they've seen oil-rich countries fall again and again to low oil prices ... especially in context of how successful they've been at lowering oil prices to hurt their rivals.
  • jasonmaydie 8y ago
    yes yes, I get that but it also competes with their current cash cow. They obviously want a say in this technology that is inevitably going to destroy their oil revenues (and that is not a good thing).