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Qatar makes 95% of their revenue on LNG. These are long-term contracts at fixed prices. Kuwait and Qatar also have the fewest amount of actual citizens that it
by unexpected 6y ago
Qatar makes 95% of their revenue on LNG. These are long-term contracts at fixed prices. Kuwait and Qatar also have the fewest amount of actual citizens that it would need to "pay off".
Ex: During the Arab Spring, Kuwait handed out $500k checks to all Kuwaiti males above 18 years old. He also told the citizenry that he would forgive all car loans - population went and bought ferraris, range rovers, etc. and got the loans all forgiven by the government.
I worry more about the Arab countries that have high populations and cannot afford to pay everyone off - Saudi is on that list.
- burger_moon 6y agoI never heard of this before and tried to look it up without success. I did find this Reuters article which mentions "In 2011, to mark three major anniversaries, ruler Sheikh Sabah al-Ahmad al-Sabah granted 1,000 dinars to each Kuwaiti and free food rations for 13 months." 1000 dinars ~$3200 https://www.reuters.com/article/us-kuwait-parliament-debt/kuwaits-parliament-approves-personal-debt-relief-law-idUSBRE93809O20130409 https://www.reuters.com/article/us-kuwait-parliament-debt/ku...
- mrow84 6y ago> During the Arab Spring, Kuwait handed out $500k checks to all Kuwaiti males above 18 years old. Do you have a reference for this? I had a look, but it's one of those things that is a bit difficult to search for.
- unexpected 6y agoI wish I could find a news source for this, but english newspapers suck in their coverage. I was actually in Kuwait as this happened, so I know it's 100% true. I spent that day being driven around at 130 mph in some guys's new porsche 911 turbo s. Energy industry is wild.