Saudi oil #1

Saudi Arabia's Crown Prince was the subject of a few posts two weeks ago. He ("MbS") holds power over his kingdom, and the kingdom holds considerable power in the world. Why? Oil. That power is analyzed in this Forbes article.

Saudi Arabia produces 12.9% of the world's oil, similar to the world shares of both Russia and that of the U.S.

"However, there is an important distinction when it comes to Saudi Arabia. In Russia, oil production is concentrated among a dozen or so companies. In the U.S., [it's] thousands of [independent] companies . . . But in Saudi Arabia, all of the oil production is controlled by Saudi Aramco, the state-owned oil company and reportedly the most profitable company in the world."

So - the Crown Prince holds global financial power similar to the combined oil companies of America - in his own hands.

(what that could mean . . cont'd tomorrow)