Morphine Prince 109,663 Posted October 25, 2015 Share Posted October 25, 2015 If oil stays around $50 a barrel, most countries in the region will run out of cash in five years or less, warned a dire report from the International Monetary Fund this week. That includes OPEC leader Saudi Arabia as well as Oman and Bahrain.Low oil prices will wipe out an estimated $360 billion from the region this year alone, the IMF said.Saudi Arabia, the world's largest oil producer, needs to sell oil at around $106 to balance its budget, according to IMF estimates. The kingdom barely has enough fiscal buffers to survive five years of $50 oil, the IMF said.That's why Saudi Arabia is moving fast to preserve cash. The kingdom not only raised $4 billion by selling bonds earlier this year, but its central bank has yanked up to $70 billion from asset management firms like BlackRock (BLK) over the past six months.After years of huge surpluses, Saudi Arabia's current account deficit is projected to soar to 20% of gross domestic product this year, Capital Economics estimates. Saudi Arabia's war chest of cash is still humungous at nearly $700 billion, but it's shrinking fast.Source: http://money.cnn.com/2015/10/25/investing/oil-prices-saudi-arabia-cash-opec-middle-east/index.html?sr=twcnnbrk102515oilpricessaudiarabiacashopecmiddleeast512pStoryMoneyPhoto Link to post Share on other sites More sharing options...
Chromatislaps 34,854 Posted October 25, 2015 Share Posted October 25, 2015 mm it's kind of time that those oil billionairs/royal family controlling Saudia Arabia get less money, and become less powerful. Link to post Share on other sites More sharing options...
LebaneseDude 6,146 Posted October 25, 2015 Share Posted October 25, 2015 Same reason why UAE is establishing itself as a tourist destination and real estate hot spot. Economic sustainability is key. Oil won't last forever. Of course I won't shed any tears if their economies collapse. It's a Lebanese bitterness thing you wouldn't understand Edited just now by LebaneseDude. Link to post Share on other sites More sharing options...
Alcina Dimitrescu 1,157 Posted October 25, 2015 Share Posted October 25, 2015 Same reason why UAE is establishing itself as a tourist destination and real estate hot spot. Economic sustainability is key. Oil won't last forever.this Link to post Share on other sites More sharing options...
mmm 879 Posted October 25, 2015 Share Posted October 25, 2015 mm it's kind of time that those oil billionairs/royal family controlling Saudia Arabia get less money, and become less powerful. Thats like saying your happy that everyone in America will go through a financial crisis.. that makes you happy? Of course I won't shed any tears if their economies collapse. It's a Lebanese bitterness thing you wouldn't understand Oh yeah I understand that Lebanese bitterness. Just look at your country and how it couldnt survive without us. Link to post Share on other sites More sharing options...
wiltedbliss 915 Posted October 25, 2015 Share Posted October 25, 2015 Thats like saying your happy that everyone in America will go through a financial crisis.. that makes you happy? Oh yeah I understand that Lebanese bitterness. Just look at your country and how it couldnt survive without us.I rather let my country go down in flames, than be supported by such a bizarrely hateful and unfair country. Besides, Lebanon does NOT depend on Saudi Arabia. PLEASE. I have no problem with Saudi Arabians, obviously, but their government deserves to go down. Cruel governments like that should never exist. Link to post Share on other sites More sharing options...
Chromatislaps 34,854 Posted October 25, 2015 Share Posted October 25, 2015 Thats like saying your happy that everyone in America will go through a financial crisis.. that makes you happy? No don't get me wrong, but I feel in overall the future of energy lies in clean energy. The most succesful companies these days are those investing in durability of clean energy and measures against climate change. I feel those that invest in oil should back away and look at new solutions. Tesla is doing a great job at making a change, by making battery driven cars, and batteries for a sustainable home. The way the oil magnates had/have the power over a lot things, and that has to change. As for other products relying on the oil industry (plastics, shampoo, toothpaste), they should look into alternatives as well. Link to post Share on other sites More sharing options...
GreekGod 1,085 Posted October 25, 2015 Share Posted October 25, 2015 Azerbaijan as an oil country also suffers from this issue but our government tries to strengthen the non oil sector to stabilize the situation in the longer term. But it is something that would take years, so energy selling countries should have thought about this possibilty years ago. Their bad. Normal people suffer at the end tho. Link to post Share on other sites More sharing options...
wiltedbliss 915 Posted October 25, 2015 Share Posted October 25, 2015 However, I do feel bad for the people the people that might potentially suffer in the end. So torn Link to post Share on other sites More sharing options...
Katharine Hepburn 4,607 Posted October 25, 2015 Share Posted October 25, 2015 This thread is already a mess xoxo Joanne Link to post Share on other sites More sharing options...
GreekGod 1,085 Posted October 25, 2015 Share Posted October 25, 2015 sorry if it sounds racist or anything like that but this makes me so happy because no Muslim country should be rich and powerful yes it sounds extremely racist. and it is so sad that the most of the 'democratic' European and American governmental powers think the same way as you. Link to post Share on other sites More sharing options...
wiltedbliss 915 Posted October 25, 2015 Share Posted October 25, 2015 sorry if it sounds racist or anything like that but this makes me so happy because no Muslim country should be rich and powerful do u hear yourself? That's complete generalization. I'm not Muslim, but that's extremely offensive to anyone who is. Link to post Share on other sites More sharing options...
mmm 879 Posted October 25, 2015 Share Posted October 25, 2015 I rather let my country go down in flames, than be supported by such a bizarrely hateful and unfair country. Besides, Lebanon does NOT depend on Saudi Arabia. PLEASE. I have no problem with Saudi Arabians, obviously, but their government deserves to go down. Cruel governments like that should never exist.Yes Lebanon does depend on Saudi Arabia and the gulf countries.. if your an Arab you already know this I dont need to explain that to you. All governments are cruel and shouldnt exist even in the US so if you want to wish a financial crisis on a whole population because you dont like its government, you must wish that upon everyone in the world. If an uprising start and the government is gone, ISIS will enter as its on our boarders and fight to take the holy land of mecca while iran tries to use shias to create a civil war! this is not a game and if you want the country to change, people are the ones who have to change and governments will adapt and change with them just like how gay marriage happened once a big number of Americans started supporting and accepting homos-xuals. Link to post Share on other sites More sharing options...
LebaneseDude 6,146 Posted October 25, 2015 Share Posted October 25, 2015 Oh yeah I understand that Lebanese bitterness. Just look at your country and how it couldnt survive without us.Our country is ****ed up because of all the outside influences on our political system in some idiotic religious power struggle.Considering Saudi Arabia, Syria, and Iran use our country as a battlefield for their own aims then it's only natural that they also provide the supply line. But I'm not on Gagadaily to start a politically driven argument. I was just making a joke. Edited just now by LebaneseDude. Link to post Share on other sites More sharing options...
HANZ 4,380 Posted October 25, 2015 Share Posted October 25, 2015 yes it sounds extremely racist. and it is so sad that the most of the 'democratic' European and American governmental powers think the same way as you. do u hear yourself? That's complete generalization. I'm not Muslim, but that's extremely offensive to anyone who is. it's not anything about Muslims, it's their goverments and all the corruption in there that should be anything but as powerful as they are today My Favs = Lady Gaga, Janet Jackson, Ricky Martin, AKB48 Link to post Share on other sites More sharing options...
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