By Kim Iskyan
A FAILURE
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dictates how much it costs to fill your gas tank, heat your house, and transport anything you use – catches pneumonia. And Aramco matters to Saudi Arabia – at the fulcrum of stability in the volatile Middle East – like air matters to humans. Aramco provides more than two-thirds of total Saudi government revenues. The company’s revenues are equivalent to more than half of Saudi Arabia’s total GDP. By comparison, the revenues of the largest American company by sales, Walmart (WMT), is about 3% of U.S. GDP. If Aramco catches
When Aramco sneezes, the world’s energy market – which dictates how much it costs to fill your gas tank, to heat your house, to transport anything you use – catches pneumonia. NOT ENOUGH GOLDEN EGGS The problem facing Prince Mohammed when he first floated the idea of partially privatizing Aramco in January 2016 was that the golden population of Saudi Arabia, including the 20% that lives in poverty. If Aramco falters, all of the authoritarian dictates and steel-toed boots of the Saudi government under MBS won’t be able to keep things under control.
pneumonia, Saudi Arabia does too... Aramco’s oil wealth helps keep the
15,000-strong Saudi royal family – with an estimated total net worth of more than $1.4 trillion – comfortable in their Maseratis and Rolexes. And Aramco helps keep the peace by providing for the other 99.95% of the
American Consequences
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