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Saudi Arabia was smart enough to nationalise their oil industry. It was a long and hard struggle- they were completely exploited for decades by Western companie
by MomoXenosaga 4y ago
Saudi Arabia was smart enough to nationalise their oil industry. It was a long and hard struggle- they were completely exploited for decades by Western companies (with respect Saudi leaders were completely out of their depth). Payback is a bitch.
- curiousgal 4y agolmao do you really think the Saudis, or any of the Gulf countries, have any sovereignty at all? If the US wants the prices down they'll get them down. The issue is internal politics.
- telltruth 4y agoWhat are you talking about? Saudi were not exploited by western companies. After independence from British, they contracted out to western companies but took the healthy profits for basically doing nothing. Later, they bought out everything and now they have been exploiting the whole world for more than half century. All the oil and assets are basically a personal property of Saudi royal family. The MBS walks into marina in Europe and purchases mega yacht on the spot for $500M in all-cash same day transaction with no pre-planning just because he happen to like it when he saw it. All the while, general public not connected to royal family lives miserably. Saudi then hires managers who goes out like bull dogs to get every last cent from every possible move they can make. This results in supporting Putin to manipulating OPEC so MBS can purchase another $500M painting to hang in his bathroom.