4 ms·
It's not coming and coming -- it's here. Prices are negative, and they need at least something like ~$60/barrel to keep their government running and closer to
by blaser-waffle 6y ago
It's not coming and coming -- it's here. Prices are negative, and they need at least something like ~$60/barrel to keep their government running and closer to $80/barrel to keep their whole country running.
But yeah, I agree with your main point: they're jumping at deals and chasing big wins, a la Dubai. Cuz they don't really have any other choice.
- ryandrake 6y agoSheikh Rashid's quote [1] kind of sums up the desperation of several countries in the Middle East to somehow diversify out of oil: "My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel" 1: https://en.wikipedia.org/wiki/Rashid_bin_Saeed_Al_Maktoum https://en.wikipedia.org/wiki/Rashid_bin_Saeed_Al_Maktoum
- eru 6y agoSheikh Rashid was born in 1912. The quote talks about his great-grandson. That generation has been alive for a while and comfortably drives Land Rovers.