Related Articles
Forward article link
Share PDF with colleagues

An oil-free Saudi Arabia?

Deputy crown prince Mohammed bin Salman has caused a stir by saying he wants Saudi Arabia to end its “addiction” to oil. Can the Kingdom really do this?

FORGET freezing crude output to bolster prices and prop up ailing economies. Saudi Arabia wants to try something much bolder: weaning its economy off oil revenue altogether. On 25 April Saudi Arabia’s Council of Ministers approved the crown prince, Mohammed bin Salman’s plan to revolutionise the economy over the next 15 years. Vision 2030 outlines a sharp economic shift and is full of eye-catching ideas and worthy aspirations (“transparent”, “vibrant society”, “preservation of the environment”, “investing for the long term”, and so on). Above all, it is aimed at diversifying its economy away from oil-revenue dependency and harnessing the kingdom’s abundant renewable energy potential. It want

Also in this section
Oil and gas in the new world order
22 March 2017
Geopolitical risks are changing and rising. The energy sector will be in the crosshairs
Slow reset of US-Russian relations
20 March 2017
Trump and Tillerson should help improve US-Russia relations. But an end to sanctions doesn't look imminent
Building walls
20 March 2017
The new White House promises to be generous to energy. Some policies will be anything but