Saudi Arabia Pegs Budget to Oil at Around $50, Goldman Says

OK, thats good for the figures but does it solve the real problem? Because Saudi Arabia as the primus inter pares has a joke of a non-oil economy. Much of it is secondary effects of spending the oil money anyhow so how much would remain if the oil would be gone? And according to what I have seen earlier they need more than 50 USD to really square the circle. You don’t make this go away by decree. Maybe the days of golden toilets are numbered.

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