Lesson 3: Saudi Arabia and the Future of Oil

January 22, 2019

Review:

• 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
    • Torture at Abu Ghraib
    • Support for Iraq War effort falls
  • Obama withdraws US troops
    • Radical al-Qaeda fighters allowed to regroup
    • Form ISIS and begin grabbing territory in Iraq and Syria
• Rise of ISIS
  • BBC maps

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 with low oil prices
  • In addition, House of Saud leadership in transition
  • Watch Saudi Arabia Uncovered 
    • 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

Assignment:

• Watch Saudi Arabia Uncovered 
• Read The Saudi Government’s Global Campaign to Silence Its Critics