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Very happy to hear this and hope that is indeed the case, but the world's thirst for oil is still huge and will take a long time before it's finally quenched.
by ur-whale 6y ago
Very happy to hear this and hope that is indeed the case, but the world's thirst for oil is still huge and will take a long time before it's finally quenched.
Also, these days, running huge, never-to-be-repaid debt seems to be the standard way to run a country, as exemplified by the US and most of the EU ... the other shoe seems to have a gravity belt, so ARAMCO might just be safe for a long time.
- lotsofpulp 6y agoNever to be repaid debt only works if the market thinks the country will continue produce something worth buying. That’s why Somalia can’t print its way out of poverty. Once Saudi Arabia runs out of oil, I’m not sure the country produces anything of equivalent value.