Saudi Arabia is a Sunni Muslim country and is attempting to westernize to diversify its industries and expand its $1 trillion economic base.
Occupational courses include engineering degrees and women are allowed to uncover their heads, go to school and take jobs, but require a male guardian to approve of their marriage. Saudi is open to establishing a tourist trade with sports and sponsors golf tournaments.
The Saudi Rial is worth 27 cents. Costs are 4 times lower than the US. Low-income Saudis may qualify for subsidies. Saudi citizens pay no taxes on their wages. Healthcare, dental care and education are free. Home costs are low at $90,000. Rent costs are low from $274 to $335 per month for a 1-bedroom apartment. The average wage is $27,680.
Saudi citizens can weigh-in using opinion polls. 76% support Israel. Saudis can elect local officials. Saudi remains a monarchy and central government officials are appointed by the King. The liberalization for Saudi citizens has been well planned, incremental and cautious to avoid dissent.
Fortune Magazine (March-April) announced Saudi’s plan to invest $500B in building a new city in Neom. This plan is on hold, but Saudi is building a port city in Neom on the Red Sea to expand trade. Saudi’s oil field and pipeline systems allow them to keep their cost of production to $10/bbl.
If Trump is elected in 2024, he will expand energy supply and drive down the price of oil and natural gas. This would lower the Saudi’s oil revenue. Saudi needs to continue its reforms, but will need to have the revenue needed to ride the oil price rollercoaster. Trump will also end Iran sponsored terror attacks on shipping in the Persian Gulf and ban oil sales from Iran. Lower energy prices will reduce revenues for all oil exporting countries including Russia.
Norb Leahy, Dunwoody GA Tea
Party Leader
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