Financial Times (February 18)
The conditional deal between Saudi Arabia and Russia delivered “maximum rhetorical impact for the minimum genuine commitment.” Ultimately, it “will not take a single barrel of oil off the market to ease the glut that has driven crude prices down about 70 per cent since the summer of 2014.” The deal reveals “nervousness among the world’s two largest oil producers. But the fact that Saudi Arabia is not already cutting its output, in spite of mounting signs of financial strain, shows that while its strategy might be painful, it is still rational.”
Tags: Deal, Financial strain, Glut, Market, Oil, Output, Producers, Rational, Russia, Saudi Arabia, Strategy
Washington Post (January 5)
“Saudi Arabia is a frightened monarchy.” That is both the root of the problem and the key to the solution. “What led Saudi Arabia to take these risky actions, and what U.S. policies might reduce the danger that the Middle East mess will get even worse? You can’t answer these questions without examining the Saudis’ insecurity, which has led them to make bad choices.”
Tags: Danger, Frightened, Insecurity, Middle East, Monarchy, Risky, Saudi Arabia, Solution, U.S.
The Economist (July 4)
“Shale matters. The industry has become huge—listed firms have invested over half a trillion dollars of capital…. Shale firms owe almost as much debt as Greece. After drilling beneath much of Texas and North Dakota, they account for 5% of global oil output. The health of shale firms affects people around the world, from Western drivers and Saudi Arabia’s sheikhs to Asia’s consumers.”
Tags: Asia, Capital, Consumers, Debt, Drilling, Greece, North Dakota, Oil, Output, Saudi Arabia, Shale, Texas
The Economist (May 23)
“Saudi Arabia’s rulers have long wielded their influence discreetly.” No more. Amid current Middle East chaos, “the Saudis are acting with uncharacteristic boldness across the whole range of domestic, foreign and economic policies. Whether by design or default, they stand out as the leading force in the Arab world.”
Tags: Boldness, Chaos, Discreet, Influence, Middle East, Saudi Arabia
The Economist (January 23)
The death of King Abdullah “could hardly have come at a more challenging time for Saudi Arabia.” His successor “King Salman has inherited a realm that is the world’s top oil exporter at a time when prices have plunged; is home to Islam’s holiest sites of Mecca and Medina at a time when jihadist violence is at a peak; and has been dragged into turmoil in the region.”
Tags: Islam, Jihadist, King Abdullah, King Salman, Mecca, Medina, Oil, Prices, Saudi Arabia, Successor, Turmoil, Violence
Washington Post (September 8)
The Islamic State has already “seized far more of Iraq and Syria than is compatible with the safety and human rights of the people living there, and its sights are set on further destabilization in Jordan, Saudi Arabia and Kurdistan, as well as terror attacks in Europe and, if it’s capable of them, the United States.” It is delusional to think this “murderous terrorist army” can simply be “contained” or “managed.”
Tags: Contained, Destabilization, Europe, Human rights, Iraq, Islamic State, Jordan, Kurdistan, Managed, Safety, Saudi Arabia, Syria, Terror attacks, Terrorist army, U.S.
Global Investor (February Issue)
“Initial public offerings (IPOs) in the Middle East and North Africa (Mena) region are gathering momentum, with a burgeoning pipeline of deals and renewed optimism of further supply stretching into the future.” Saudi Arabia’s Tadawul Exchange is predicted to be the region’s most active, followed by the Dubai Financial Market, Qatar Exchange and the Abu Dhabi Exchange. “However, some of these companies could look to the London Stock Exchange due to its wider access to international investors. The dearth of liquidity in regional compared with global exchanges remains a challenge for local IPOs.”
Tags: Abu Dhabi Exchange, Dubai Financial Market, Exchanges, Global, Investors, IPOs, Liquidity, LSE, Middle East, Momentum, North Africa, Pipeline, Qatar Exchange, Regional, Saudi Arabia, Supply, Tadawul Exchange
Chicago Tribune (November 13, 2013)
“It used to be the tallest building in America. It used to be the tallest in the world. It used to be the Sears Tower. Now Chicago’s Willis Tower is second, um, banana to New York’s not-yet-completed One World Trade Center, which was declared tallest in the nation.” And it’s not just Chicago that has lost the skyscraper race. “The U.S. has all but conceded the skyscraper Olympics to cities like Dubai, Taipei, Hong Kong and Shanghai. Eight of the world’s 10 tallest buildings are in the Middle East and Asia. Saudi Arabia’s Kingdom Tower, now under construction, will be 3,281 feet tall.”
Tags: Chicago, Dubai, Hong Kong, New York, One World Trade Center, Saudi Arabia, Sears Tower, Shanghai, Skyscraper, Taipei, Tallest, U.S., Willis Tower
Wall Street Journal (November 4)
By year end, the U.S. is likely to unseat Russia and become the second largest global producer of liquid fuels. The U.S. is now well positioned to escape the capricious yoke of OPEC and “even could surpass Saudi Arabia to become the leading global producer within the next decade.” Former Secretary of State George Schultz and FedEx CEO Fred Smith write, the nation’s leaders should “embrace both the supply revolution now well under way and the emerging demand revolution in oil-displacement technology that, together, promise a more secure and prosperous future.”
Tags: Demand, Energy security, FedEx, Fred Smith, Fuel, Future, George Schultz, Oil-displacement, OPEC, Producer, Revolution, Russia, Saudi Arabia, Supply, Technology, U.S.
Washington Post (August 22)
“Watching Saudi Arabia and other wealthy Gulf states line up behind the bloody counterrevolution in Egypt, you can’t help suspecting that these conservative monarchies are ready to fight to the last Egyptian against the Muslim Brotherhood — waging what amounts to a proxy war against the regional threat of Islamist extremism.”
Tags: Counterrevolution, Egypt, Gulf states, Islamist extremism, Monarchies, Muslim Brotherhood, Proxy war, Regional threat, Saudi Arabia
