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Wow, I didn’t know that refining, shipping, and access to global capital didn’t apply to KSA. Such a magical country. They’re going to need that magic when the

Wow, I didn’t know that refining, shipping, and access to global capital didn’t apply to KSA. Such a magical country. They’re going to need that magic when the primary export collapses — or if it doesn’t, wet bulb temperatures in the Gulf make it literally unlivable. The $20 a barrel will be even harder to sustain in a protracted civil war, which is where they are headed if they don’t diversify enough.

onlyrealcuzzo 4y ago
> Wow, I didn’t know that refining, shipping, and access to global capital didn’t apply to KSA. Such a magical country. KSA refines all its own oil. KSA doesn't need capital. It's a money printing machine - even at $30 per barrel. Shipping will have some impact. ~40% of global shipping cargo is fossil fuels. However, my guess is, fossil fuel shipping would get even cheaper, not more expensive.