Saudi Arabia Thinks Oil Price Will Soon Barely Matter to Economy

Oh, do they? All I see in Saudi Arabia is a series of hyper-expensive prestige projects. What do you think where the money to pay for all this bling comes from? Exactly right – from the black goo from under their sands. None of those projects will be financially self-sustaining by any reasonable amount of time. You cannot decree entrepreneurialism. Entrepreneurs are born in pain, loss, and suffering. Entrepreneurs learn how to shoestring it, they fake it until they make it and they make every single dollar count. Or die trying. Saudi Arabia’s population is coddled to a degree that kills any entrepreneurial zest that might once have existed. Big, government-instituted projects are not the way. 

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