Lesson 7: Saudi Arabia and the Future of Oil
February 8, 2018
Review:
- Exam 1
- Oil and Conflict in the Middle East
- Losing Iraq
- Iraq War (based on shaky justification, but that’s another story)
- US-led coalition forces invade Iraq and easily take Bagdhad
- Seemingly no plan to secure Iraq after invasion
- Limited understanding of internal Iraqi affairs, politics, culture
- Paul Bremer
- Disbanded Iraqi army, etc
- Cheney-Rumsfeld-Wolfowitz – axis of neocon nincompoops
- Obama withdraws US troops
- Radical al-Qaeda fighters allowed to regroup
- Form ISIS and begin grabbing territory in Iraq and Syria
- Iraq War (based on shaky justification, but that’s another story)
- Rise of ISIS
Presentation:
- Major powers in the Middle East
- Saudi Arabia – Sunni majority
- Iran – Shi’a majority
- Shi’a vs Sunni
- Map of Shi’a vs Sunni population concentrations
- Is Saudi Arabia entering a new era of instability?
- Saudi economy is struggling, like Russia, with low oil prices
- In addition, House of Saud leadership in transition
- Watch Saudi Arabia UncoveredÂ
- segment 1: 03:15 to 09:00
- segment 2: 40:45 to 52:00
- Saudi Aramco
- World’s largest (energy) company (CNN Money video)
- Planning world’s largest IPO
- Use proceeds to finance diversification (economic and energy)
- Saudi Arabia Shifting to Solar
- What is the future of oil?
- How will Saudi Arabia be affected?
- How will the greater Middle East be affected?
Assignment: