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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 w

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