3 ms·
What will happen to middle east as the world's oil demand continue to decrease?
by throwaway5486nv 5y ago
What will happen to middle east as the world's oil demand continue to decrease?
- ncmncm 5y agoSaudi oil marginal production cost is still the lowest in the world. The main effect will be political instability as the revenue used to keep the population satisfied falls off. The Saudis could set up solar and start synthesizing anhydrous ammonia to sell to higher latitudes in winter. Marginal production cost would go even lower, as it would not need refining. But they would face competition from west Africa.