You are probably correct, but I've also heard that the Saudis have one huge challenge diversifying out of oil: they are so damn lazy after decades and decades of oil money revenues.
They tried setting up all the satellite colleges in Saudi Arabia, and they couldn't get students to actually try. The US higher ed is full of party students getting rubberstamp diplomas, but there are also a segment (usually harder sciences and premed/prelaw/etc) that work REALLY hard. As I understand it, all of the saudi schools are just rubberstampers, they can't get the hard sciences students.
MBS probably needs to have a really nasty streak, because there is such massive corruption in the Saudi ruling structure.
But again, I don't want to seem like I'm defending them. I cannot wait for alternative energy and BEVs to drop the floor out from under them. They SHOULD have a soft landing with all that sovereign investment money, but... those slush funds can disappear fast... And once America DGAF about the middle east from a security standpoint, they'll just be a bunch of lazy billionaires.
Once the oil is meaningless, America's military shield is gone. Shiite Iran can invade Saudi Arabia, and Iran actually has fighting forces. Saudi Arabia does not.
They tried setting up all the satellite colleges in Saudi Arabia, and they couldn't get students to actually try. The US higher ed is full of party students getting rubberstamp diplomas, but there are also a segment (usually harder sciences and premed/prelaw/etc) that work REALLY hard. As I understand it, all of the saudi schools are just rubberstampers, they can't get the hard sciences students.
MBS probably needs to have a really nasty streak, because there is such massive corruption in the Saudi ruling structure.
But again, I don't want to seem like I'm defending them. I cannot wait for alternative energy and BEVs to drop the floor out from under them. They SHOULD have a soft landing with all that sovereign investment money, but... those slush funds can disappear fast... And once America DGAF about the middle east from a security standpoint, they'll just be a bunch of lazy billionaires.
Once the oil is meaningless, America's military shield is gone. Shiite Iran can invade Saudi Arabia, and Iran actually has fighting forces. Saudi Arabia does not.