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Saudi Arabia's Oil Problem

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  • Published on Sep 22, 2021
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Comments • 5 498

  • NtateNarin
    NtateNarin Year ago +2564

    I'm always amazed by how much oil there is. With so many people using it, it feels like we should have drained the Earth years ago.

    • LRN_News
      LRN_News 12 days ago

      there's always new oil being created as well

    • dcvgcc htjhh
      dcvgcc htjhh 20 days ago

      đöń'ț håvĕ åńý šýmpåțhý öŕ ůńđĕŕšțåńđïńg föŕ čhïńå! ï ůšĕđ țö bĕ å čhïńĕšĕ åńđ ï wåńț țö țĕłł föłłöwïńgš țö åłł öf ýöů !:
      țhĕ čhïńĕšĕ håvĕ ńöț pŕöđůčĕđ åńý ńåțůŕåł ščïĕńčĕ, šöčïåł ščïĕńčĕ, öŕ hůmåńïšțïč țhöůghț ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý.
      čhïńĕšĕ čůłțůŕĕ ïš ńåŕčïššïšțïč ńöńšĕńšĕ, fůłł öf åńțï-hůmåńŕïghțš åńđ öțhĕŕ čŕåp.
      țhĕ țwö bïg ŕůbbïšh țhåț čhïńå håš čöńțŕïbůțĕđ țö țhĕ wöŕłđ (ńöț łïmïțĕđ țö țhïš): čhïńĕšĕ čůłțůŕĕ (čöńfůčïůš țhöůghț, čhïńĕšĕ mĕđïčïńĕ, ĕțč.), țhĕ čömmůńïšț Påŕțý öf čhïńå (ččP).
      țhĕ čhïńĕšĕ pĕöpłĕ håvĕ ńö hůmåń ŕïghțš ïđĕåš ïń țhĕïŕ ńåțůŕĕ. čhïńå håš pŕåčțïčĕđ țĕŕŕöŕïšm đömĕšțïčåłłý föŕ țhöůšåńđš öf ýĕåŕš.
      țhïš ńåțïöń håš båŕŕïĕŕš țö țhĕ čögńïțïöń țö țhĕ wöŕłđ.
      čhïńĕšĕ čůłțůŕĕ, ïš å bïțčh-łïkĕ čůłțůŕĕ !
      ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý, țhĕý půț țhĕmšĕłvĕš țö đĕåțh ågåïń åńđ ågåïń, đůĕ țö țhĕ łåčk öf čöŕŕĕčț čögńïțïöńš åńđ mĕțhöđš.
      ïń țhĕïŕ hïšțöŕý, țhĕïŕ öńłý šöłůțïöń țö šöłvĕ țhĕïŕ šöčïåł pŕöbłĕmš ïš țö måkĕ ĕvĕŕýțhïńg å mĕšš åńđ đĕšțŕöý, țhĕń šțåŕț övĕŕ wïțh țhĕïŕ čöčkŕöåčh-łïkĕ fĕčůńđïțý.
      ĕvĕŕýțhïńg ïń țhïš čöůńțŕý ïš łïĕ, åńđ šhåmĕłĕššńĕšš, țhĕý čömpłĕțĕłý łåčk țhĕ đïšțïńčțïöń bĕțwĕĕń țŕůțh åńđ fåłšĕhööđ.
      Whåț pĕöpłĕ ïń țhïš čöůńțŕý đö ïš åłwåýš šqůĕĕžïńg țhĕ ńĕxț gĕńĕŕåțïöń, šqůĕĕžïńg țhĕ böțțöm.
      țhĕ čhïńĕšĕ kĕĕp pŕĕțĕńđïńg țhåț țhĕý åŕĕ å ńöŕmåł čöůńțŕý whĕń ïń fåčț țhĕý åŕĕ å šýšțĕmïčåłłý ĕvïł čöůńțŕý.
      țhĕ čhïńĕšĕ håvĕ bĕĕń țŕĕåțïńg țhĕ whöłĕ wöŕłđ åš fööłš, kĕĕp šțĕåłïńg țĕčhńöłögý, måŕkĕțš åńđ jöbš wöŕłđ-wïđĕłý.
      țhĕ čhïńĕšĕ åŕĕ å håŕđ-wöŕkïńg ńåțïöń, håŕđ-wöŕkïńg țö fłööđ țhĕ wöŕłđ wïțh țhĕïŕ čůłțůŕåł åńđ ïđĕöłögïčåł ŕůbbïšh.
      ĕvĕŕý đåý ïń țhïš čöůńțŕý måkĕš mĕ fĕĕł đïšgĕšțĕđ!

    • Douglas Scovil
      Douglas Scovil 21 day ago

      @Michael Smith ditto for venezuela.

    • granand
      granand 23 days ago

      Right there is big point, some one lied, why who is that lobby ? Actually there is more Oil in USA than in Saudi. Now all you have to do is do Fracking and oil can be extracted many places.. That is a new i learnt last decade.

    • Michael Godfrey
      Michael Godfrey Month ago

      Oil does not come from fossils....its abiotic

  • CtrlAltDel Meir
    CtrlAltDel Meir Year ago +2170

    When oil was cut off from the United States during the 1973 Arab-Israeli War, Henry Kissinger told Faisal "If Saudi Arabia does not lift the boycott, America will come and bomb the oilfields." King Faisal replied back "You are the ones who can't live without oil. You know, we come from the desert, and our ancestors lived on dates and milk and we can easily go back and live like that again." But I don't thnk king Faisal's quote remains true anymore.
    I also feel like I have the opportunity to shill the lavon affair

    • Irene Garcia
      Irene Garcia 22 hours ago

      @Deathrow662 not the sheikhs though, they've never had to lift a finger for anything

    • Dino Nazamodeen
      Dino Nazamodeen 9 days ago

      @Kneel Before Zod!! You have to remember that he is a Jew! And who do you think control the USA?

    • Yedidyah - Jed Shlomoh
      Yedidyah - Jed Shlomoh 14 days ago

      @Kneel Before Zod!! We are not permitted to criticize German Jews. lol

    • Kneel Before Zod!!
      Kneel Before Zod!! 14 days ago

      How the Hell has Henry Kissinger managed to dodge prison all this time??
      That guy could quite literally murder babies on the UN Council floor and not get in trouble.. The man is Teflon.

    • Yedidyah - Jed Shlomoh
      Yedidyah - Jed Shlomoh 22 days ago

      @Dino Nazamodeen I am 67

  • Agent Smith
    Agent Smith 11 months ago +229

    It's not true that KSA needs over $85 a barrel to break even on oil production, but they do need that price to break even on their state budget. The break even on Saudi oil production is under $10 a barrel. Oil basically flows up ny itself and is easily harvested.

    • Eros Kaw
      Eros Kaw Month ago +1

      more like $4

    • Arthas Menethil
      Arthas Menethil 2 months ago +5

      true, just look at Iraq. even before the US invasion their oil fields were terribly maintained and modernized but after the war they just invited major oil companies to put in bids to exploit the fields and sat back while the oil companies built a new oil industry for them. since companies will do all the work a government doesmt need to do anything but count the money that gets dropped in their laps.

  • Siang Cheng Pang
    Siang Cheng Pang 8 months ago +254

    Everyone is being like "HAHAHA OIL PRICE IS HIGH NOW THEREFORE YOUR ENTIRE VIDEO IS INVALID" doesn't realized 1) As mentioned in the video, the oil price is much more volatile than the last century, and there's no reason to believe any peaks would stay that high 2) The entire point of SA expanding their industries is an attempt to lower the reliance on oil, the oil price being high now doesn't mean jackshit, because it won't be high forever AND THAT'S THE POINT 3) higher oil price accelerates the process of countries adapting renewables, which is already planned in EU because of the whole Russian-Ukrainian war, so what caused this spike at the first place might be the downfall of oil in the future

    • Martin
      Martin 17 days ago +1

      Exactly, KSA is one trick pony. If investors in Canada and the US think prices will remain high they will fire up shale and oil sand production again. KSA then has two choices….flood the market with cheap oil to shut down the shale industry like the did before or live with the fact that the price of oil will sit at around $70 a barrel or lower. The latter is a hard pill to swallow for KSA as their break even price is probably around $65 and have seen estimates at $85 in order for them to cover all their governmental subsidies as they are now. Canada and the US have a hole card to play if they really wanted to and these governments can subsidize the shale industry by guaranteeing a set price for a Barrel of oil independent of what the price of oil is…up to some cap on loss I’d imagine which I have no idea what that would be. What it means is Saudi would have to sell oil very cheaply in order to shut down the shale industry. The US though gets very little oil from Saudi and is in fact a net petroleum exporter. In 2021 it was 0.06 million barrels per day. Not a huge number but is certainly is why they and Canada don’t subsidize the shale industry. Also the US Is a free market and the oil companies in the US love when the oil prices are high and have lots of lobbyists. These thing all need to be weighed on a global economic scale. Do u let oil companies make huge profits at the expense of slowing down the world economy?

    • Eng Beng Kang
      Eng Beng Kang Month ago

      @Azogtic Mettroskik ý

    • Azlan Adil
      Azlan Adil 2 months ago

      @Azogtic Mettroskik Why would it be unwise? That’s what they’ve been doing for the past century? What makes you think they’re changing now?

    • Paul Bedichek
      Paul Bedichek 3 months ago

      Europe is much more dependent on coal and gas after investing hundreds of billions in renewables.

    • SSM Brodies
      SSM Brodies 3 months ago

      @WorldTravel1518 bro don't believe this guy he has no idea

  • The Wise Guy
    The Wise Guy Year ago +138

    When you really understand all the dynamics of how the nations work, it's truly terrifying

    • The Wise Guy
      The Wise Guy 3 months ago

      @Sibte A ****humans are forsaken****

    • Sibte A
      Sibte A 3 months ago

      Its kinda like a video game but the players are countries and almost all of them are trash lol

    • Wrath
      Wrath 8 months ago +1

      @Muhamad Helmi 2nd this

    • Muhamad Helmi
      Muhamad Helmi 9 months ago +2

      Any recommended video/articles,if you dont mind that is. 😄

  • malabo10
    malabo10 Year ago +4395

    This video is a warning sign for oil dependent economies in the emerging market. Since most of these countries don't have all the data to forecast peak oil, Public debt management will be crucial for development otherwise many countries will be even more poor. Diversifying the economy through each nation's particular strength is the key.

    • dcvgcc htjhh
      dcvgcc htjhh 20 days ago

      đöń'ț håvĕ åńý šýmpåțhý öŕ ůńđĕŕšțåńđïńg föŕ čhïńå! ï ůšĕđ țö bĕ å čhïńĕšĕ åńđ ï wåńț țö țĕłł föłłöwïńgš țö åłł öf ýöů !:
      țhĕ čhïńĕšĕ håvĕ ńöț pŕöđůčĕđ åńý ńåțůŕåł ščïĕńčĕ, šöčïåł ščïĕńčĕ, öŕ hůmåńïšțïč țhöůghț ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý.
      čhïńĕšĕ čůłțůŕĕ ïš ńåŕčïššïšțïč ńöńšĕńšĕ, fůłł öf åńțï-hůmåńŕïghțš åńđ öțhĕŕ čŕåp.
      țhĕ țwö bïg ŕůbbïšh țhåț čhïńå håš čöńțŕïbůțĕđ țö țhĕ wöŕłđ (ńöț łïmïțĕđ țö țhïš): čhïńĕšĕ čůłțůŕĕ (čöńfůčïůš țhöůghț, čhïńĕšĕ mĕđïčïńĕ, ĕțč.), țhĕ čömmůńïšț Påŕțý öf čhïńå (ččP).
      țhĕ čhïńĕšĕ pĕöpłĕ håvĕ ńö hůmåń ŕïghțš ïđĕåš ïń țhĕïŕ ńåțůŕĕ. čhïńå håš pŕåčțïčĕđ țĕŕŕöŕïšm đömĕšțïčåłłý föŕ țhöůšåńđš öf ýĕåŕš.
      țhïš ńåțïöń håš båŕŕïĕŕš țö țhĕ čögńïțïöń țö țhĕ wöŕłđ.
      čhïńĕšĕ čůłțůŕĕ, ïš å bïțčh-łïkĕ čůłțůŕĕ !
      ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý, țhĕý půț țhĕmšĕłvĕš țö đĕåțh ågåïń åńđ ågåïń, đůĕ țö țhĕ łåčk öf čöŕŕĕčț čögńïțïöńš åńđ mĕțhöđš.
      ïń țhĕïŕ hïšțöŕý, țhĕïŕ öńłý šöłůțïöń țö šöłvĕ țhĕïŕ šöčïåł pŕöbłĕmš ïš țö måkĕ ĕvĕŕýțhïńg å mĕšš åńđ đĕšțŕöý, țhĕń šțåŕț övĕŕ wïțh țhĕïŕ čöčkŕöåčh-łïkĕ fĕčůńđïțý.
      ĕvĕŕýțhïńg ïń țhïš čöůńțŕý ïš łïĕ, åńđ šhåmĕłĕššńĕšš, țhĕý čömpłĕțĕłý łåčk țhĕ đïšțïńčțïöń bĕțwĕĕń țŕůțh åńđ fåłšĕhööđ.
      Whåț pĕöpłĕ ïń țhïš čöůńțŕý đö ïš åłwåýš šqůĕĕžïńg țhĕ ńĕxț gĕńĕŕåțïöń, šqůĕĕžïńg țhĕ böțțöm.
      țhĕ čhïńĕšĕ kĕĕp pŕĕțĕńđïńg țhåț țhĕý åŕĕ å ńöŕmåł čöůńțŕý whĕń ïń fåčț țhĕý åŕĕ å šýšțĕmïčåłłý ĕvïł čöůńțŕý.
      țhĕ čhïńĕšĕ håvĕ bĕĕń țŕĕåțïńg țhĕ whöłĕ wöŕłđ åš fööłš, kĕĕp šțĕåłïńg țĕčhńöłögý, måŕkĕțš åńđ jöbš wöŕłđ-wïđĕłý.
      țhĕ čhïńĕšĕ åŕĕ å håŕđ-wöŕkïńg ńåțïöń, håŕđ-wöŕkïńg țö fłööđ țhĕ wöŕłđ wïțh țhĕïŕ čůłțůŕåł åńđ ïđĕöłögïčåł ŕůbbïšh.
      ĕvĕŕý đåý ïń țhïš čöůńțŕý måkĕš mĕ fĕĕł đïšgĕšțĕđ!

    • XIENOUXXIOUNUE
      XIENOUXXIOUNUE 2 months ago

      Mark my words: Oil will be here for the next 75 years without losing its significance!
      Climate change is only a concern of the 1% of us!

    • Alex Ghiriti
      Alex Ghiriti 3 months ago

      Tz

    • Alex Ghiriti
      Alex Ghiriti 3 months ago

      Tust mir quickie quasi

    • Nikki Whitaker
      Nikki Whitaker 5 months ago

      Well ethanol is not the answer and neither is electric. If even 12% of the us had electric cars the power grid would shut down. Not to mention the amount of resources and work it takes just to create one car battery.

  • Euan Duthie
    Euan Duthie 3 months ago +30

    It's also worth mentioning that the 2014 oil price decline wasn't an unexpected event. Saudi Arabia deliberately increased production, allowing prices to fall as a means of carrying out a proxy conflict with Russia and Iran- The idea was that since the Saudis can weather a low oil price more readily than these other two countries, an extended period of low prices would hurt Iran and Russia more than it would hurt the Saudis, and they would be forced to scale back their support to the Syrians, allowing the Saudi-backed violent jihadists (sorry, "moderate rebels") to take over.
    This didn't go as planned.

    • Arthas Menethil
      Arthas Menethil 2 months ago +1

      wasnt just the saudis, other countries ramped up production too. I dont follow the oil industry super closely but that rise in production coincided with the US exploting more fields and fracking more. I'd also wager that many oil projects started during the sky high oil prices in the 2000s were starting to reach full production. there were also some new fields discovered in the 2010s which is thought to be a motivator for Russia invading Crimea. Iraq was steadily increasing oil production in the late 2000s and the 2010s since they started bringing in bids to exploit fields and their investments following the invasion were starting to pay off.
      I'd wager that the saudis did increase production to cause prices to drop even more since they saw an opportunity and took it

  • Ethesham M
    Ethesham M Year ago +268

    Oil is the source of income (taxes) for governments in many countries. Here in India, oil is taxed at 260% (yes 260%). Saudi Arabia is selling us oil for a lot cheaper than what Indian govt is selling to it's citizens (oil prices in India are decided by govt). I wonder what would happen to the source of income of countries (taxes) when oil is not as prevalent as it is today.

    • Ex MusIim Samir
      Ex MusIim Samir 3 months ago +1

      @3DPeter , Even USA and Europe drinking petroleum and Gas despite being So called first world or developed countries.
      We are developing and there is no shame in it.

    • Ex MusIim Samir
      Ex MusIim Samir 3 months ago +1

      @3DPeter , that's lot of Guess.
      Same guess was said about Online transactions 5 years ago (france 24). Today India is 1st in it.
      Indian Railways is 81% electrified, soon 100%. Govt is procuring E vehicles or CNG based vehicles. Since majority of people use public transport most of the time, there is nothing to worry about everyone should have e Vehicle.
      Asia's Largest Bio CNG plant is in India, 100s more coming soon.
      My city recently received 400 e buses for public transport.
      And by High taxes on Petroleum products, Govt is building sustainable infrastructure.
      India in last 4-5 years added 130GW of renewable energy, be is solar l, hydro or wind.
      Govt is working on ambitious 450GW target by 2030.
      India is only country to achieve Paris goal.

    • pen too
      pen too 3 months ago +1

      They will move the taxes to whichever energy source replaces oil or find some new tax to levy

    • LPN LPN
      LPN LPN 8 months ago

      Oil price in India is not decided by govt, they're set by the oil companies after 2013 or something.. There's been a law change.. But how much and how many sections of tax is slapped on it is decided by the govt.. So when oil companies hikes the price the tax also increases. Also the govt slaps some other forms of taxes on it from time to time, like flood levy, education levy, etc

    • Tzizenorec
      Tzizenorec 9 months ago +2

      So taxes in India are listed as a percentage of the amount the oil company gets to keep, not as a a percentage of the total amount paid? The way I've always thought of taxes, a tax of 100% would be a complete shutdown. If India's "260%" tax isn't a complete shutdown, it's probably what I would call a 72% tax.

  • Jerden
    Jerden 3 months ago +9

    "Strict but ambiguous" sounds like the worst possible legal system.

  • Greg Hannigan
    Greg Hannigan 3 months ago +60

    I actually traveled more during the pandemic. Gas was $1.06/gallon I have a 36 galllon tank on my truck and filled it for $42. I went to 17 dif states, no traffic, just cruised the roads non stop. I put 10,000 miles a month on my truck for 7 months straight. I went everywhere I ever wanted, seen family havent seen in decades went to every monument/spot in the US I wanted to see. Best year for my bucket list accomplishments I will ever had.

    • Greg Hannigan
      Greg Hannigan Month ago

      @Windoak It was great, Srry that I dont think we will ever get that opportunity again. It was kind of what I invisioned retirement to be except I wont be making $6,000/month for free😂. You wouldnt believe how much resistance I got. I would call my friends out of state and tell them Im coming over and they would freak out you cant come over....and they were dead serious. I got to one of my friend's house and he literally talk to me through the door for like an hour then handed me a bag through the door with like cookies and some snacks and some other stuff in it was like nice talking to you bro....wtf...people were freaking out😂 Still to this day I think I am the only person on the planet that never got any strain of Covid and I broke all the "Rules" I guess it cant live in a Nicotine, Redbull enriched blood stream cause I was in contact with all kinds of people that had it and I never caught it as people around me were dropping like flies. I believe Redbull and Marlboros are the real vaccine.

    • Windoak
      Windoak Month ago +3

      @Greg Hannigan You had a literal once in a lifetime opportunity and took it, congrats. Id like to do something like that one day

    • mumin miah
      mumin miah Month ago

      Based.

    • Greg Hannigan
      Greg Hannigan 2 months ago +4

      @paul elephant Thanks. I just knew there would never be another time in my life with 6 months off with full pay of $3,000/week. Up until that point I had 61 days off in 10 years So I was not gonna waste paid time off sitting in my house locked down.

    • paul elephant
      paul elephant 2 months ago +3

      That's a great pandemic story, good on you for taking that opportunity.

  • Changning Xu
    Changning Xu 11 months ago +7

    What can change a nation’s future? Education. Only more expansive, intensive and open education can drag Saudi Arabia out of this cycle. Yet even this seems like an impossible task. Changing education means to change how Arabian people live. Which contradicts their belief, history and their current education. To change Saudi Arabia from relying on oil to self sustained country requires a reform. A reformation not from the leader but from the people.

    • Sedna063
      Sedna063 11 months ago

      They have actually changed text books and now try to change education too. Although afaik more than half of their PhDs are in islamic studies...

  • mrgrork
    mrgrork Year ago +49

    I had an economics professor at Syracuse university who claimed when I asked about it in 2016 that Peak Oil was just a myth and there could be no such thing due to market factors. Yeesh, but I loved the man. Since then I’ve changed my mind on many things

    • Alex M
      Alex M 6 days ago

      @Samuela Coal can be converted to oil, and there's MUCH more coal than oil. We just aren't doing it now because it's not profitable. Once oil reserves drop enough that's going to change.

    • granand
      granand 23 days ago

      @Samuela There is finite to every thing ... question is oil usage has far exceeded the expected usage and we crossed peak oil predicted and calculated, taught to us by 22 years. So ... back to board and want to know what is Oil?

    • Plainsburner
      Plainsburner 2 months ago

      @Doctor Doggo Depends on how fast you burn it. Releasing carbon from its fossilized form is most likely a long term good for the planet's ecosystem, as long as you don't flood the atmosphere with too much it will be consumed and used by plant life.

    • Doctor Doggo
      Doctor Doggo 3 months ago +2

      @Samuela meh, we probably won't ever run out of oil, there are probably enjoy hydrocarbons to destroy our atmosphere four times over. The issue is that nations are trying to shift away from oil in their electrical generation, and the young generation has a trend of being anti car centered planning, and this is without the environmental driving factors.

    • Samuela
      Samuela  3 months ago +1

      There has to be peak oil because oil is a finite resource.

  • jmy
    jmy 6 months ago +3

    Great video. One thing left out in the rise of oil prices was the timeline with our war we started with Iraq. I loved the reason it was started and the replacement reasons. That's another story, this is based on oil futures, the prices started going up at this time, they went up a lot. They never went down because we stayed, up to that $147 a barrel bringing on the "great recession". Prices crashed at this time but never to where they were. present day, man made crash minus-$38, now prices going up, oil $112, gasoline- all time high....

  • appletaste :D
    appletaste :D 10 months ago +13

    This is so interesting! Thank you, Sam! For all the work!

  • Phoenix
    Phoenix Year ago +1284

    So much of this geopolitical content are being produced lately, I cannot watch them all! I love it!!!

    • Gen Li
      Gen Li Year ago

      Given that he got Hejaz and Nejd backwards, I wouldn't listen much....

    • Jarod 1999
      Jarod 1999 Year ago

      I feel the same way.

    • Ricardo Silva
      Ricardo Silva Year ago +1

      In the end, what really matter are the natural resources. Saudi Arabia its a desert. No oil, no wealth. Real money are industry power.
      Russia are strong because has strong industry and strong natural resources to build the industry, and be able to resist from world economics blackmails...
      Japan has the strong fish industry as backup, and cheap fresh water as well...
      What makes a strong long run power nation are basically the farms and fisheries...
      No matter what happens to the world economy, its the food and industry power that true matter.
      And without cheap fresh water you cant support a strong industry...
      Its not only Saudi Arabia that is doomed to poverty... All nations without strong natural resources, at long run, cant compete with strong safety backup...
      They will always fall soon or later... In that region, only Turkey has the cheap water resources to build their own foods and industry. No water, no wealth. Soon or later, that extra cost will make you fall under stronger world competition.
      The best brains to be strong in cut edge tech, needs freedom of thinking, and religious societies will never be strong because of that, and they need to own industry to develop it, and no water no industry.
      All oil rich nations of the world, if dont have another resources, will fall no matter what.
      No oil, only industry power. No cheap fresh water and colder weather, no industry power to be able to do and sell stuff that the other cant make it...
      Saudi Arabia used to be strong nation in the past millennia, because they controlled the sea routes to europe... Now that wealth source are controlled by Egypt by Suez canal...
      Meca access control, will be the only safe source of wealth to Saudi Arabia.

    • Luke Tonkinson
      Luke Tonkinson Year ago +21

      @Jb 16 the airline stuff is good too, but it is good to have a range.

    • Jb 16
      Jb 16 Year ago +11

      Makes a nice change from all the airline stuff. So much airline stuff.

  • darter9000
    darter9000 Year ago +360

    “MBS took on his country’s biggest challenge ever.”
    In my mind, I followed that with… “The free press.”

    • Khalid Qasem
      Khalid Qasem 9 months ago

      As if free press exist in the west

    • Haru Yanto
      Haru Yanto 10 months ago +1

      @Blast6926 absolute true democracy would mean everyone who gets voted in by the people gets an equal percentage of power and responsibilities as per the people's choice

    • Zhi Han Lee
      Zhi Han Lee 10 months ago +2

      Meanwhile in Singapore MBS stands for Marina Bay Sands (which is home to a casino)

    • Devika V
      Devika V 11 months ago

      I hear foreign influence

    • Blast6926
      Blast6926 Year ago +3

      @KINO DAS BANG BANG BOOM BOOM nor absolute true democracy exists anywhere, there's always one or a bunch of people who control majority of things

  • Curtis Owen
    Curtis Owen Year ago +25

    What they really don't seem to understand is tourists don't want theme parks, they want ancient ruins.

    • QWERT YUIOP
      QWERT YUIOP 4 months ago

      Sad thing is the country has amazing natural landscapes, many ancient runes and somewhat of a unique natural experience. But instead they want to create an unnatural 500 billion city that not only doesn't fit the country's image but isn't really needed and probably will bankrupt the country.

    • MangaTeGo
      MangaTeGo 4 months ago

      they actually found an ancient civilization ruins in saudi recently. The problem is it's in the middle of the desert where no one will go. That's why they should start forestation. It'll take decades but it's worth it, especially since the climate is so hot there.

    • Curtis Owen
      Curtis Owen 6 months ago +3

      Vegas and Disney World... 2 places that are diametrically opposed to the conservative culture of Saudi Arabia. Nevertheless I hear what your saying, but still, look at Egypt, look at Barcelona Spain, Rome Italy, Greece, Ankor Wat, the ruins around Mexico, Istanbul, so many others! These places are packed, constantly. I've been to most if these places and the charming ancient culture and structures is the reason I go. And why most world travelers go. So many people couldn't care less about places like Vegas and Disney world. Hell those places build their own versions of pyramids, eiffel tower, and Cesar's palace to draw people in! 2 very different types of tourists you're pointing out there.

    • Król pawi
      Król pawi 6 months ago +1

      Tell that to Disney world.

    • Morgan Angel
      Morgan Angel 7 months ago +5

      Tell that to Vegas.

  • isaiah morris
    isaiah morris 9 months ago +1

    I still don’t understand the reason behind the price fluctuations charted after 2004-2008. Was it solely due to the fact that foreign investment in the country dropped and seemingly Saudi interest in developing their country into a more tourist-friendly state?

  • 100 000 000 views
    100 000 000 views 10 months ago +5

    Love your videos, keep up with the good work. People should come together and be more tolerant no matter where we are from. Diversity of race, culture, and beliefs are the greatest wealth human have. These diversities allow us to escape our monotonous lives and discover each others.

  • Chest Boat
    Chest Boat Year ago +2541

    A Fine Example Of Putting All Your Eggs In One Basket

    • dcvgcc htjhh
      dcvgcc htjhh 20 days ago

      đöń'ț håvĕ åńý šýmpåțhý öŕ ůńđĕŕšțåńđïńg föŕ čhïńå! ï ůšĕđ țö bĕ å čhïńĕšĕ åńđ ï wåńț țö țĕłł föłłöwïńgš țö åłł öf ýöů !:
      țhĕ čhïńĕšĕ håvĕ ńöț pŕöđůčĕđ åńý ńåțůŕåł ščïĕńčĕ, šöčïåł ščïĕńčĕ, öŕ hůmåńïšțïč țhöůghț ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý.
      čhïńĕšĕ čůłțůŕĕ ïš ńåŕčïššïšțïč ńöńšĕńšĕ, fůłł öf åńțï-hůmåńŕïghțš åńđ öțhĕŕ čŕåp.
      țhĕ țwö bïg ŕůbbïšh țhåț čhïńå håš čöńțŕïbůțĕđ țö țhĕ wöŕłđ (ńöț łïmïțĕđ țö țhïš): čhïńĕšĕ čůłțůŕĕ (čöńfůčïůš țhöůghț, čhïńĕšĕ mĕđïčïńĕ, ĕțč.), țhĕ čömmůńïšț Påŕțý öf čhïńå (ččP).
      țhĕ čhïńĕšĕ pĕöpłĕ håvĕ ńö hůmåń ŕïghțš ïđĕåš ïń țhĕïŕ ńåțůŕĕ. čhïńå håš pŕåčțïčĕđ țĕŕŕöŕïšm đömĕšțïčåłłý föŕ țhöůšåńđš öf ýĕåŕš.
      țhïš ńåțïöń håš båŕŕïĕŕš țö țhĕ čögńïțïöń țö țhĕ wöŕłđ.
      čhïńĕšĕ čůłțůŕĕ, ïš å bïțčh-łïkĕ čůłțůŕĕ !
      ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý, țhĕý půț țhĕmšĕłvĕš țö đĕåțh ågåïń åńđ ågåïń, đůĕ țö țhĕ łåčk öf čöŕŕĕčț čögńïțïöńš åńđ mĕțhöđš.
      ïń țhĕïŕ hïšțöŕý, țhĕïŕ öńłý šöłůțïöń țö šöłvĕ țhĕïŕ šöčïåł pŕöbłĕmš ïš țö måkĕ ĕvĕŕýțhïńg å mĕšš åńđ đĕšțŕöý, țhĕń šțåŕț övĕŕ wïțh țhĕïŕ čöčkŕöåčh-łïkĕ fĕčůńđïțý.
      ĕvĕŕýțhïńg ïń țhïš čöůńțŕý ïš łïĕ, åńđ šhåmĕłĕššńĕšš, țhĕý čömpłĕțĕłý łåčk țhĕ đïšțïńčțïöń bĕțwĕĕń țŕůțh åńđ fåłšĕhööđ.
      Whåț pĕöpłĕ ïń țhïš čöůńțŕý đö ïš åłwåýš šqůĕĕžïńg țhĕ ńĕxț gĕńĕŕåțïöń, šqůĕĕžïńg țhĕ böțțöm.
      țhĕ čhïńĕšĕ kĕĕp pŕĕțĕńđïńg țhåț țhĕý åŕĕ å ńöŕmåł čöůńțŕý whĕń ïń fåčț țhĕý åŕĕ å šýšțĕmïčåłłý ĕvïł čöůńțŕý.
      țhĕ čhïńĕšĕ håvĕ bĕĕń țŕĕåțïńg țhĕ whöłĕ wöŕłđ åš fööłš, kĕĕp šțĕåłïńg țĕčhńöłögý, måŕkĕțš åńđ jöbš wöŕłđ-wïđĕłý.
      țhĕ čhïńĕšĕ åŕĕ å håŕđ-wöŕkïńg ńåțïöń, håŕđ-wöŕkïńg țö fłööđ țhĕ wöŕłđ wïțh țhĕïŕ čůłțůŕåł åńđ ïđĕöłögïčåł ŕůbbïšh.
      ĕvĕŕý đåý ïń țhïš čöůńțŕý måkĕš mĕ fĕĕł đïšgĕšțĕđ!

    • iamyasir Yusuf
      iamyasir Yusuf  3 months ago

      @TheKewlPerson the kingdom of Saudia Arabia does not need a lecture about morals and human rights coming from degraded western societies.

    • Spam Email
      Spam Email 6 months ago

      Never put all your begs in one ask it.

    • Ali Abrahem
      Ali Abrahem 8 months ago

      @TheFrontyardScientist people like u act like oil is only used for gas and the world militaries don’t run on it. Try powering those tanks with “green” energy and see how that will turn out for u bud

    • this over pc world
      this over pc world 9 months ago

      There is no other egg.

  • Bullfrogz100
    Bullfrogz100 2 months ago

    2004 was supposedly "peak oil production", it turned out to be "peak stability of oil prices". Who knows what really are "proven" reserves of oil in Saudi Arabia? Those who bought shares in Aramco may have some nasty surprises. As for becoming a touristic destination, they are dreaming.

  • Jethro23
    Jethro23 Year ago +17

    As a Saudi myself, I found this video to be fascinating and worrying at the same time.

  • Т1000 Youtube
    Т1000 Youtube Month ago +1

    Surely would be a nice time for them to gain international credibility by easing the pressure on the international economy

  • TheOtherNeutrino
    TheOtherNeutrino Year ago +10

    13:03 Aramco waspada already a long time sponsor in F1. The ambitious 23 race calendar and slots opening up due to the pandemic (2020 was the first year among 70 to not have a Monaco GP) provided an opportunity to host one.

    • Roman Baranovichi
      Roman Baranovichi Year ago

      Aramco started sponsoring F1 in 2020, the first Saudi Arabia GP is happening in the same year as the Monaco GP. It hasn’t been signed as a replacement but as a long term addition.

  • Cinestar Productions
    Cinestar Productions Year ago +757

    People are saying this is a warning for oil dependent economies, but that’s already what Venezuela was.

    • granand
      granand 23 days ago

      @Austin Hernandez US and NATO are biggest criminal thugs in the world ...just see how they over threw govt, use sanction, occupy oil fields in other countries and fake it by callign it names and use sanction by controlling the means of communication, currency and Insurance .. but they will face music sooner or later when petro dollar is gone ..Payment and Insurance systems alternatives are come up and yes they still control internet. Now they are begging Venezula

    • the gamer
      the gamer Year ago +2

      The difference between Saudi Arabia and Venezuela is that the US doesn't want to invade Saudi Arabia, therefore their economy is supported, not sabotaged, by the world's largest economic power.

    • John Smith
      John Smith Year ago

      @Uhohhotdog Gaming And a bunch of innocents families because they didn't allow the government to take all their life's work.

    • Uhohhotdog Gaming
      Uhohhotdog Gaming Year ago

      @Lollipop Actual the only deaths they’re responsible for is nazis

    • Lollipop Actual
      Lollipop Actual Year ago

      @Uhohhotdog Gaming perhaps you should stick to the fantasy of video games.
      They don't usually end up causing the deaths of hundreds of millions of people like your communists fantasies have done.

  • saturn
    saturn 7 months ago +2

    Just another great reason to switch to an electric vehicle! I hope that waste of land turns into the place it deserves to be.

  • Scott Fletcher
    Scott Fletcher Year ago +1

    This channels ability to break down complex topics and analyze difficult topics absolutely amazes me. I feel smarter after watching the videos. Very well done.

    • na99ab
      na99ab Year ago +1

      Unfortunately you are feel smarter based on false information. He claims that we are suffering in Saudi, women are mistreated... Blah blah blah
      Well, we Saudis are tired explaining. However, it gets to know Saudi, or mostly any other part of the world, to go to Twitter for example and ask for whatever you want yo know.
      Half of his video is not bad, but half is just repeated BS that were debunked and proven false. The Jeff Bezos story was 100% lie and all media came clean about it!!! Amazing how after a year or two of the lies, he comes and repeat them. It shows how little of a work he is doing and that he has an agenda.

  • Buffalo soldier
    Buffalo soldier 11 months ago

    I had heard that the break even price for Saudi oil was the lowest in the world at around $60 vs $85.

  • DieNextInLINE
    DieNextInLINE 2 months ago +1

    Man, hearing the name Standard Oil just makes me think.
    A lot of people don't realize how fucking massive Standard Oil was back then. They had to be split into seven different entities in 1911. A few of them became the massive oil companies we know now. Standard Oil of Ohio became BP, or British Petroleum, SO of New Jersey became Exxon while SO of New York became Mobil and they merged to become ExxonMobil. Standard Oil of California which was talked about in the beginning of this video became Chevron.

  • A. G.
    A. G. Year ago +2307

    Speaking of tourism, it's hard to bring foreign tourists in after you have been developing the "Muslims only" image for decades. Even for many Muslims Saudi Arabia is far from being an attractive destination. And finally, the investment we see here is nothing really new when compared to what we have seen in the UAE, Qatar or Bahrain which have developed a much better image compared to Saudi Arabia. It's cool to go to Dubai, right?! But, how to create the same "cool" image and put it together with the name "Saudi Arabia" will be a big big task.

    • OmaRR
      OmaRR 2 months ago

      @Vladimir Lenin Same, as a person who’s lived in qatar for most of my life, qatari locals, thought being just 15% to 17% if the population, are very kind.

    • NNT Flow
      NNT Flow 3 months ago

      Saudi Arabia would fail. This is proven by the fact that oil dependent country like Norway which uses the money to developed diversified economy still fail to got away from its Oil dependencies. Currently Norway still rely on the oil for around 50% of their economy.
      If Norway can't do it, then nobody else could.

    • Sedna063
      Sedna063 3 months ago

      @Ezix Holiday tourism not known in the Middle East? Please - Lebanon, Tunisia, Morocco, Egypt, Turkey… all had vibrant tourism industries before the first skyscraper in Dubai was built.

    • Sedna063
      Sedna063 3 months ago +1

      @Muslim Brother Why would non-Christians go to places like the Vatican, visit the Church of the Holy Sepulchre? Why would people visit Hindu Temples?
      Because even without subscribing to the faith, one may want to see a place of art or historical significance which Mecca and Medina undoubtedly are.

    • Muslim Brother
      Muslim Brother 3 months ago

      @Sedna063 why would a non Muslim want to go to Mecca and Medina?

  • Nosocialism.com
    Nosocialism.com 10 months ago +21

    When Norway created their Sovereign Wealth Fund from the oil that it found offshore, they made sure to invest none of the money in the oil business, or even in Norway itself. Today 75% of all car sold in Norway are electric. Moving forward that number will soon apply to all of Europe and probably all of China. Over the next decade or so oil prices will collapse to practically nothing. No way understood this from the get-go. Apparently Saudi Arabia does not understand it even as of yet.

  • M T
    M T 11 months ago

    Great fun watching this video. Please let me know when you issue another one. I could def use a laugh these days!

  • Dave
    Dave Year ago

    I think that the good people of Saudi Arabia will have to go in to hitek manufacturing and export their products, training Saudi nationals to do will be crucial for this and lowering the unemployment at the same time.

  • v series
    v series 8 months ago

    He spoke about oil prices being volatile, it's volatile because it's linked to any major occurrence that is going on during the that time. But also oil demand has never been as big as it is today therefore Aramco has grown 50x times in size and production.

  • Eastmarch2
    Eastmarch2 Year ago +820

    May have been worth mentioning that 'Peak Oil' as defined in the 1970s-2000s was an expectation of when Oil would be unable to match production to demand at all rather than a demand drop.

    • Haru Krentz
      Haru Krentz 8 months ago

      :remember when they said "the world will be running out of oil in 2025"?

    • Edward Simpson
      Edward Simpson 10 months ago +1

      Maybe the real Peak Oil was the friends we made along the way.

    • Local Man
      Local Man 10 months ago

      @Miles Rout Your analogy about cities with rent control isn’t perfect. As you say, with oil if supply drops, prices go up and demand goes down because people have alternative transportation choices. But demand for housing doesn’t go down just because prices go up. People have to live somewhere. Uprooting your family to a cheaper housing market is not as simple as deciding to ride a bike to work.

    • Rus Potter
      Rus Potter 10 months ago +1

      This was before fracking or having to “mine” oil. So it’s not wrong

    • James Coda
      James Coda 10 months ago

      Peak oil is a myth. its functionally a dead concept. its a scary story the television has told us for years.

  • Don McDougall
    Don McDougall 4 months ago

    Very well researched and informative.

  • AzureWave
    AzureWave 2 months ago +2

    You could’ve consulted a Saudi person before doing this - basic factual errors exist.

  • Fredrick Conte
    Fredrick Conte Year ago +392

    The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the government to bring in money especially now the pandemic is hitting the economy

    • SirFaceFone
      SirFaceFone 3 months ago

      @Fredrick Conte Tamara Diane Hagan ate my cat and pooped in our front yard. Would not recommend. 3/10.

    • Haru Yanto
      Haru Yanto 10 months ago

      Was waiting for you to segment into trying to convince people to invest in bitcoin but glad you didn't

    • Mark Awachie
      Mark Awachie 11 months ago +2

      I like how these bots and spam accounts reply to themselves and the entire RU-clip comment section is so used to it that they get exactly 0% engagement.
      Hopefully one day they realise it’s not worth it and just disappear.

    • apok1980
      apok1980 Year ago +1

      Private investment can turn the wheel, but the biggest impact on generating wealth are the actions of the ruling government. If the government facilitates infrastructure, that is impactful. If a country has a reliable, and predictable set of laws for criminal and commercial actions demonstrated in predictable fashion over a lengthy period of time, that would then make me feel more comfortable working with them. Technology and globalization basically paints the picture in black and white. 20th century tactics only gives you short term returns. Information is what the 21st century is all about.

    • Ûpënďó.
      Ûpënďó. Year ago

      @Harshil Patel thanks it's true I should invest.

  • The hero we deserve
    The hero we deserve 4 months ago +1

    as an petroleum engineer in a major Oil company this video is very accurate but i wish Wendover would do a video about the incelocaust. The oil crysis is a very litlle problem compared to literal genocides

  • Simon Joel Warkentin
    Simon Joel Warkentin Year ago +412

    It seems to me that Norway knew it all in advance, that's why they are so conservative with their oil production. Norwegian oil policy is smart!

    • Spacemongerr
      Spacemongerr 12 days ago

      @Ali Abrahem Kuwait has 12 times the amount of oil reserves Norway has, not 60 times. Kuwait is much smaller geographically yes, but their population is almost as big (4.5 and 5.5 million).
      But yes, Norway has a more diversified economy. Norway was moderately rich even before they found oil in 1968 (richer than half of European countries in 1965 per capita), so their economy was never as extremely oil-based as some gulf states.

    • seneca983
      seneca983 23 days ago

      @granand "The USA now selling its oil reserve to China, use China as a manufacturing hub, and cannot claim china is polluting when orders for manufacturing come from the USA."
      I agree that it would be better to include indirect emissions for each country coming from domestic consumption made possible by foreign production with emissions, though it's also harder to find info on this. However, this principle only reinforces that *Norway* *is* *not* *to* *blame* for the emissions from the oil it sells but rather it should be counted for the countries that either actually emit the greenhouse gasses or better yet those that consume the results if it's a different country.

    • granand
      granand 23 days ago

      @seneca983 That exactly is my point, a nation cannot make profit by selling and fake compliance with a fake Paris climate. The USA now selling its oil reserve to China, use China as a manufacturing hub, and cannot claim china is polluting when orders for manufacturing come from the USA.. The USA is not making it as it is costly and they have to deal with unions and pollution making the product not viable and thus cannot compete with Chinese goods anyways. So how much oil is burned should also consider how much produce is bought or ordered by USA or Norway.

    • seneca983
      seneca983 23 days ago +1

      @granand Just selling oil does not make them not green. For that what matters is how much greenhouse gasses they themselves emit.

    • granand
      granand 23 days ago

      @seneca983 I have a point here, Norway cannot profit selling oil and also claim of green .. that is just plain wrong..

  • Johann Gambolputty
    Johann Gambolputty 10 months ago +1

    What I’ve learned: If you’re trying to build a credible, safe and Westernized society, make your assassinations look like an accident.

  • Geoffrey THOMAS
    Geoffrey THOMAS Year ago +130

    The stone sge didn't end for lack of stones, so the oil age will not end for lack of oil.

    • N L
      N L 11 months ago +3

      This must be the dumbest thing I've ever read

    • Peter de Croos
      Peter de Croos Year ago +2

      @Mountainous Port yup and the whaling age didn't end till we started extractibng oil out of the ground. Here's hoping the alternative is better

    • Tracesprite
      Tracesprite Year ago

      And now we're in the age of solar panels, living in a nation surrounded by sand sounds like an economic advantage to me.

    • graham mewburn
      graham mewburn Year ago +4

      The oil age will end when folk cannot afford to buy it

    • Jeremy
      Jeremy Year ago +12

      Big brain here

  • Aggie Agnew
    Aggie Agnew Year ago +1

    The first rule of sustaining any business is to diversify. Focus down a single product and you're doomed.

  • Artem Molchanov
    Artem Molchanov 11 months ago +73

    The author is heavily underestimating how actually hard it is to change literally anything in such conservative countries.
    The changes presented are already very impressive.

    • SaltyWaffles
      SaltyWaffles 3 months ago +2

      Given that he's got almost absolute power in his country and ample wealth to pursue many different projects, he's actually doing terribly. His ordered assassination of a foreign journalist in an embassy in Turkey shows that MBS literally doesn't even care to really change. He's not willing to be criticized; that means that he is not truly interested in making hard choices to fix things.

    • zvxcvxcz
      zvxcvxcz 3 months ago +7

      I think the issue is that the changes are a drop in the bucket in a sense. No one is worried about being allowed to drive when they're worried about remaining in one piece...

  • bar10dr bar10dr
    bar10dr bar10dr 11 months ago

    They will have to align more with the western view of life as a society if they hope to achieve this in a large scale.

  • dissect
    dissect Year ago +1

    A very informative video on why the situation is how it is. I could however not follow your conclusion on how your (to be defined) radical systematic change would change the course for the better.
    What projects would a say democratic government pursue that the monarchy does not?
    How would a further increase of female labor force improve the situation, given that the unemployment rate is at an all time (?) high of 11% as you pointed out.
    Sadly your video ended somewhat abruptly, I would have enjoyed more detail on how the situation would need to change.

  • David Castillo
    David Castillo 8 months ago

    Awesome video. Learned so much about this fascinating country.

  • desar mulla
    desar mulla Year ago +7

    when you showed the stats, you forgot one important thing, and it is called Covid, but when you compare SA's stats with any other country, you can find that it was hit the least, because the development from vision 2030 balanced the hit with the profits

  • Mister X
    Mister X 3 months ago +1

    Production cost per barrel is only $9. This is, by far, the lowest among major oil players. The thing is, the world intends to get off oil quickly. IMO, pricing it down will work better for them in the long term. People will take alternatives if gas hangs around $4 per gallon indefinitely.

  • The Rally Blue Feather
    The Rally Blue Feather 11 months ago +1

    since, from a societal perspective, we are making green energy mainstream, peak oil has already been reached.
    Looking at automotive manufacturers, we're now moving towards hybrid vehicles/EVs. The production of only ICE vehicles would have meant that we were still on pace to reach peak oil. However, with the continuing trend of green automobiles, my hypothesis is that Oil production will no longer be as great anymore.
    The automotive industry is a byproduct of society making green energy mainstream however. Therefore, it all begins with marketing green energy causing Peak Oil to have already been reached.
    The generations to come will be more environmentally conscious since it's embedded into them via marketing.

  • HendrikdePendrik
    HendrikdePendrik Year ago

    Now with the high gas and coal prices it feels like the statement of peak oil feels outdated again. We definitely haven't reached peak oil yet. And there's the background risk of the Gulf Stream that's going to come to a complete standstill. That's definitely going to induce oil demand, because the EU isn't preparing its infrastructure for a Canadian climate.

  • M T
    M T 11 months ago +1

    You may find this definition helpful: (global) Peak oil is the point in time when new barrel of oil costs more, in aggregate, than the last.

  • Lukáriův Skromný Kanál

    0:32 I'm sure every other comment will point this out, but you switched the two countries. Hijaz was the one controlling Mecca while Nejd was the one based in Riyad

    • Ali
      Ali 9 months ago

      @Floppy Lukiee well Saudi Arabia was 5 separated countries: Hashemite of Hejaz,saudis in Najed,Jabal shammar in hail ,ibn ayde in Asir and Idrisid Emirate in Jazan

    • Asim Ukaye
      Asim Ukaye Year ago

      Yep, first thing I noticed

    • James Lim
      James Lim Year ago +1

      The MAIN reason why the USA western media falsely accuses CHINA of mistreating Uyghur Muslims is because they want to prevent the 1.6 Billion Chinese worldwide and 2.0 Billion Muslims from working together. Both these groups have been discriminated by USA and the WEST for decades and are more likely to work together. Chinese & Muslim nations working together will lead to US losing its dominance of the world. Plus this will gain Asia, Russia, Eastern Europe and African support too including the rest of the world such as Latin America.

    • Aziz K
      Aziz K Year ago

      One of the many inaccuracies in that video

    • Æspa Taking MYs to the Next Level
      Æspa Taking MYs to the Next Level Year ago +1

      He went to the RealLifeLore school of making obvious mistakes intentionally to generate comments

  • Bauke Dudink
    Bauke Dudink 11 months ago

    really love deep dives like this!

  • eudofia
    eudofia 11 months ago +1

    4:10 I think that figure of $85.70 being the breakeven point for Saudi oil is incorrect. The US shale drilling that has some of the world's highest breakeven price stands at about $40. That is why Saudi could keep drilling and producing in the years after the oil price collapse of 2015. Meanwhile US producers were shutting in production and laying off thousands of workers.
    The whole strategy behind the over production that flooded the world market with crude in 2015 and which led to the oil crash, was to force many US producers out of business, so that Saudi, with their lower production cost, would gain market share at the expense of US producers who couldn't keep up with oil below the $40/barrel mark.

  • Karl Glenn
    Karl Glenn Year ago

    It's crazy how so much can change in as little a time as 20 years...

  • Aziz Khaled
    Aziz Khaled Year ago +1

    Beautiful work! I do not agree with many things mentioned in this video but I know the amount of research you've done to come up with this.
    Ive noticed many flaws in this video many of them is mentioned already in the comments so I won't repeat what's been said.
    17:13 A big flaw here I believe your comparing the same metric from two other sources which makes me question if you are picking and choosing what matches your believes.
    In 2017 you took the numbers that was announced by the saudi goverment it self but in 2021 you chosed the number published by the world Bank!
    I wouldn't mind if you compared any two numbers from the same source. But this is very misleading.
    I also think you might underestimating the Saudis willingness on shift there economy to less oil dependence. The biggest green hydrogen plant are being built in Saudi not to mention the many world records achieved in wind and solar. I do think its a long journey and might as you said mega project is not the ideal way but it's definitely a move in the right direction.

  • Spare 6 Keystone
    Spare 6 Keystone Year ago +419

    Entirely basing your economy on a finite resource that literally everyone has is a great idea.

    • Power Bolt
      Power Bolt 8 months ago

      Japan has no oil.

    • The Opinionated
      The Opinionated 11 months ago

      @V. Fisher atheists are considered enemy of the state (not terrorists) ONLY IF they used to be Muslims. Since China does not meet that requirement, it would not be a problem. Many American atheists live in Saudi Arabia.

    • Sam W
      Sam W 11 months ago +2

      It's an energy supplier, with that comes alot of money and alot of influence and power.

    • JZ's BFF
      JZ's BFF 11 months ago

      @jreg2007 Like that one.

    • James Lim
      James Lim 11 months ago +2

      @ForTomorrowWeHunt Where is your fcking proof? don't just base from an unknown researcher Adrian Senz who cannot even speak Mandarin and never really live in CHina. this is the same lie tactic using mainstream media controlled by the West to defame the Muslims for decades.

  • Andrew Peterson
    Andrew Peterson Year ago +7

    I thought peak oil happened in the 1970's. Electric cars are here and almost usable, plus we could get to 100% solar or nuclear electricity once it's most profitable over oil generated electricity.

    • A Tap Helicopter
      A Tap Helicopter Year ago +1

      Pssst.
      It’s already more profitable. Oil and coal power is gov. subsidised whereas renewables are not.
      But of course, Shell and Exxon don’t want you to know that

  • Marty Stines
    Marty Stines 2 months ago

    7:04 I partially blame the electronic signs for gas prices at stations. They could now, easily change prices from day to day. And OH BOY DID THEY! lol

  • mitchtavio
    mitchtavio Year ago +6

    I love F1 and 2021 has been such an amazing season. No way in hell I will be watching the Saudi GP though. Shame on F1 for going there.

  • Tooeasyy
    Tooeasyy 6 months ago +2

    It's a tale as old as time itself. Those in power do not want to make the necessary changes for their nation in fear of losing their power and riches.

  • Faisal Official Channel

    In my opinion, Saudi Arabia is movibg from a volatile economy to another volatile economy, tourism. You can see MBS effort by constructing NEOM and other entertainment centers across the country, but the problem is clear from the start, both oil and tourism dependent economy depends on the world economy. If oil prices skyrocket, flights would be expensive thus no one wants to go holiday in another country, since people are conserving their wealth and savings.

    • Ryan
      Ryan 25 days ago

      yeah, a 170km long town only 2 km wide--- hope you don't need to drive across town to get a gallon of milk.... cause the the place is basically a permanently designed traffic jam.

    • Peter Parker
      Peter Parker 2 months ago

      They should start by lifting restrictions on women's clothing if they want to generate income through tourism

    • Sedna063
      Sedna063 10 months ago +1

      @Kiri Ica OPEC no longer has the same market power. And OPEC is full of internal conflicts

    • Kiri Ica
      Kiri Ica 10 months ago

      Oil prices are controlled by opec senpai and tourism will always be worst industry

    • Sedna063
      Sedna063 11 months ago +2

      @Dfathurr The thing is that Hajj does have limits - the mosque can only be built so big and the month is only that long... So there are limits on Hajj income. Plus, most muslims come from not so rich backgrounds. Spend a week for Hajj may require years of saving for many families - they aren't all that likely to spend another week in a high cost country like Saudi Arabia.

  • Bob Seiger
    Bob Seiger 3 months ago

    Thanks for the trojan horse. I came to learn about oil, I also learned a fair bit about the Saudis.

  • David Lloyd-Jones
    David Lloyd-Jones 3 months ago +1

    Note that in 1933 Saudi Arabi was founded in 1880.
    This doesn't mean that Saudi was founded in 1880: it mans that people can write history retroactively, and the Saudis and many of their friends have assiduously done so. Ever since 1933.

  • Ali Hasan
    Ali Hasan 8 months ago +2

    This video has aged like fine milk with oil at record high 😂

  • Paul
    Paul 2 months ago

    Oil producers will always survive... right up to the bitter end, for the simple fact that as the availability of the product decreases they just increase the price. The countries/companies that want the product are simply gonna have to pay that price in order to get it...
    The losers? The ordinary citizen: who is ultimately the one who is going to have to pay more than all of those in the supply chain providing the product (covering their costs)
    The only alternative being war to go and seize it?

  • xxxrrrxxxrrr
    xxxrrrxxxrrr Year ago +1525

    You made a massive error in the video. Saudi oil break-even price for profitability isn´t 85 $/bbl. This is a number that´s been floated around as the break-even oil price for the Saudi state budget. A humongous difference. Break-even price for Saudi wells is probably around 5-20 $/bbl to turn a profit. Now that is of course a major simplification as well, there´re normally 3 different break-even prices (and 4 for Saudis). The 3 being:
    A) break-even of gross profit (i.e you cover all the variable costs, but not fixed costs, it is still profitable in the short run to keep producing oil as without it you´d still suffer fixed costs)
    B) break-even of net profit. This is where the company earns a "profit" profit, so in addition to covering the variable costs, you also cover the fixed costs with your revenues.
    C) Break-even of capital costs. This means that you also cover the time value of money of your initial investments with the profits.
    And for Saudis and many other oil-rich nations, there D) Break-even of state budget where all of the profits from the industry are enough to cover all government expenditures.

    • Dennis Weidner
      Dennis Weidner 19 days ago

      @dcvgcc htjhh How can you "used to be Chinese"? Actually, for much of history, China was an exporter of technology. What you describe is largely the work of Communist totalitarianism and not a unique feature of Chinese culture.

    • dcvgcc htjhh
      dcvgcc htjhh 20 days ago

      đöń'ț håvĕ åńý šýmpåțhý öŕ ůńđĕŕšțåńđïńg föŕ čhïńå! ï ůšĕđ țö bĕ å čhïńĕšĕ åńđ ï wåńț țö țĕłł föłłöwïńgš țö åłł öf ýöů !:
      țhĕ čhïńĕšĕ håvĕ ńöț pŕöđůčĕđ åńý ńåțůŕåł ščïĕńčĕ, šöčïåł ščïĕńčĕ, öŕ hůmåńïšțïč țhöůghț ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý.
      čhïńĕšĕ čůłțůŕĕ ïš ńåŕčïššïšțïč ńöńšĕńšĕ, fůłł öf åńțï-hůmåńŕïghțš åńđ öțhĕŕ čŕåp.
      țhĕ țwö bïg ŕůbbïšh țhåț čhïńå håš čöńțŕïbůțĕđ țö țhĕ wöŕłđ (ńöț łïmïțĕđ țö țhïš): čhïńĕšĕ čůłțůŕĕ (čöńfůčïůš țhöůghț, čhïńĕšĕ mĕđïčïńĕ, ĕțč.), țhĕ čömmůńïšț Påŕțý öf čhïńå (ččP).
      țhĕ čhïńĕšĕ pĕöpłĕ håvĕ ńö hůmåń ŕïghțš ïđĕåš ïń țhĕïŕ ńåțůŕĕ. čhïńå håš pŕåčțïčĕđ țĕŕŕöŕïšm đömĕšțïčåłłý föŕ țhöůšåńđš öf ýĕåŕš.
      țhïš ńåțïöń håš båŕŕïĕŕš țö țhĕ čögńïțïöń țö țhĕ wöŕłđ.
      čhïńĕšĕ čůłțůŕĕ, ïš å bïțčh-łïkĕ čůłțůŕĕ !
      ïń țhĕïŕ 3,000-ýĕåŕ hïšțöŕý, țhĕý půț țhĕmšĕłvĕš țö đĕåțh ågåïń åńđ ågåïń, đůĕ țö țhĕ łåčk öf čöŕŕĕčț čögńïțïöńš åńđ mĕțhöđš.
      ïń țhĕïŕ hïšțöŕý, țhĕïŕ öńłý šöłůțïöń țö šöłvĕ țhĕïŕ šöčïåł pŕöbłĕmš ïš țö måkĕ ĕvĕŕýțhïńg å mĕšš åńđ đĕšțŕöý, țhĕń šțåŕț övĕŕ wïțh țhĕïŕ čöčkŕöåčh-łïkĕ fĕčůńđïțý.
      ĕvĕŕýțhïńg ïń țhïš čöůńțŕý ïš łïĕ, åńđ šhåmĕłĕššńĕšš, țhĕý čömpłĕțĕłý łåčk țhĕ đïšțïńčțïöń bĕțwĕĕń țŕůțh åńđ fåłšĕhööđ.
      Whåț pĕöpłĕ ïń țhïš čöůńțŕý đö ïš åłwåýš šqůĕĕžïńg țhĕ ńĕxț gĕńĕŕåțïöń, šqůĕĕžïńg țhĕ böțțöm.
      țhĕ čhïńĕšĕ kĕĕp pŕĕțĕńđïńg țhåț țhĕý åŕĕ å ńöŕmåł čöůńțŕý whĕń ïń fåčț țhĕý åŕĕ å šýšțĕmïčåłłý ĕvïł čöůńțŕý.
      țhĕ čhïńĕšĕ håvĕ bĕĕń țŕĕåțïńg țhĕ whöłĕ wöŕłđ åš fööłš, kĕĕp šțĕåłïńg țĕčhńöłögý, måŕkĕțš åńđ jöbš wöŕłđ-wïđĕłý.
      țhĕ čhïńĕšĕ åŕĕ å håŕđ-wöŕkïńg ńåțïöń, håŕđ-wöŕkïńg țö fłööđ țhĕ wöŕłđ wïțh țhĕïŕ čůłțůŕåł åńđ ïđĕöłögïčåł ŕůbbïšh.
      ĕvĕŕý đåý ïń țhïš čöůńțŕý måkĕš mĕ fĕĕł đïšgĕšțĕđ!

    • Dennis Weidner
      Dennis Weidner 2 months ago

      @ xxxrrrxxxrrr I got the impression he was talking about D. he is too well informed to not know the cost of pumping is very low in Saudi. But you are correct, he should have been worded that comment differently. My major issue is how he calculated the non-oil economy. Much of the non-oil economy is premised on a domestic economy with people with high incomes because they are employed by the oil industry or receiving government subsidies financed by the oil industry. when the oil money slows, those consumers will have a lot less money to spend, driving many Saudi non-oil enterprises out of business.

    • Refoizudeen Maricar
      Refoizudeen Maricar 3 months ago

      Thnankz for financial explanations

    • Roger King
      Roger King 7 months ago

      The unemployment rate of males in SA is closer to 25%. To keep the unemployed natives happy is expensive, hence the need to have a high sales price for the oil. The SA economy is not sustainable long term but they can always emigrate to Europe and the USA along with millions of others from failed economies.

  • O M
    O M 10 months ago +2

    the hard part is finding a research channel with really good production value and research that hasn't been noticed yet by corporations and power structures and therefore influenced and/or bought out by said entities....

  • Chad Brown
    Chad Brown Year ago +8

    I learned more in this video than I have 10 years watching the mainstream news

  • More Cowbell
    More Cowbell 2 months ago

    There is a lot of bad data floating around out there.
    Saudi's break even price wasn't nearly that high. It was / is closer to $40.

  • Trellick96
    Trellick96 Year ago +4

    I generally like some of your content but this one had so many inaccurate blunders.

  • Ian Gershgorn
    Ian Gershgorn 11 months ago

    Nice video but a little mistake… Saudi oil breakevens are extremely low (teens) it’s the government’s budget that needs ~$85 oil to break even. The oil industry still generates positive cash flow at low prices but the government will have issues

  • MrLaughinggrass
    MrLaughinggrass 6 months ago

    I believe you have got confused between the break even price for producing the oil which is less than $10 per barrel and the fiscal break even price to balance the budget of the Saudi Government?

  • Leon’s maker
    Leon’s maker 9 months ago

    The next 30 years will be interesting lmao hopefully I’m alive to see what happens 😅 I don’t get why these leaders with so much money can’t just do the right thing

    • Wassim Boukhelkhal
      Wassim Boukhelkhal 9 months ago +1

      It just happened 10 days after your comment lol, yes they're interesting

  • David Duszek
    David Duszek 9 months ago +3

    But it's appearently not risky at all for companies to invest in the PRC, which has basically the same government system (nationalist/theocratic autocracy).

    • Wawa Weewa
      Wawa Weewa 3 months ago

      Much worse in terms of foreign companies rights tho

  • Bina Lith
    Bina Lith Month ago

    what i want to understand is how the companies/govts know that there's not only enough oil in a region to support a certain market, but enough in the world to keep the market at large afloat.

  • param
    param 10 months ago

    There has to be open society and respect of international laws in this globalised world. Either Sharia law has to go completely or middle eastern countries will go back to pre sixties. Including UAE as well.

  • MegaBrokenstar
    MegaBrokenstar 4 months ago

    Minor correction from someone with a bit of medieval history education: his *reign was solidified, not his kingship. Monarchy is the institution of government with a monarch as head of state, reign is the actual exercise of rule by a monarch. Kingship is the philosophical idea of how a monarch should behave and especially weird their power during their reign.

    • MegaBrokenstar
      MegaBrokenstar 4 months ago

      As in: Joe I was the King of Anywheria, he reigned from 3014-3037, his reign was challenged in 3025 by Republican insurgents who wanted to abolish the monarchy, and his kingship was defined by a belief that the monarch should act in his people’s best interests regardless of their actual desires.

  • Daniell Addams
    Daniell Addams 11 months ago

    Dude, the island I live on used to be full of Offshore oil rig workers and companies. Now it's barren a lot of stuff has closed down within the 2010s.

  • Kyl3000
    Kyl3000 Year ago +462

    6:38 two days ago Shell sold its Permian Basin assets to ConocoPhillips for 9.5B. Some think that pressure from the EU lead them to leave, coupled with the relatively high cost of fracking extraction. That could explains Shell’s personal peak.

    • Wojtek
      Wojtek Year ago +3

      @ssdrbx You could use ammonia to solve the storage and transportation. It is an industrial chemical with pipelines and storage. Also the option to blend RNG with hydrogen would allow infrastructure to be used without modification. There are plenty of options to make hydrogen work

    • ssdrbx
      ssdrbx Year ago

      @Wojtek I think shell also bet some money on hydrogen fuel, they have some on site hydrogen production for some fuel station as transportation is very expensive.
      Honestly, that's one of the hydrogen problem: you cannot transport and store hydrogen easily, unlike electricity. Hence, hydrogen fuel cell is relatively more expensive; I hope Japan can fix that, though.

    • Bob Fg
      Bob Fg Year ago

      @Stroporez
      Yes. They are still making batteries for Tesla.

    • Bob Fg
      Bob Fg Year ago

      @memyselfandY21
      Pal, H cars are EVs.

    • Bob Fg
      Bob Fg Year ago +1

      @William Wheeler
      The future is to NOT own cars.

  • Penzija Mirovinić

    Ever since 70's oil crisis there were scientific papers that said about "oil will be deficit or gone by 2000's" but it never about environment (unfortunately) it was always about money and price gauging.

  • Sans
    Sans 11 months ago

    when he gives the time, date, and location, you know that shit's gonna go down

  • Albara Qahtani
    Albara Qahtani Year ago +10

    0:32
    You can tell how well researched this video is.

    • aenygma
      aenygma Year ago

      I agree, if at least that MBS appears to be straw manned. I don't agree with him, but I making him seem facile just cheapens the argument

    • Sams
      Sams Year ago

      What he do?

    • J.H. Miretskay
      J.H. Miretskay Year ago

      😂😂😂

    • AbdulAziz4CaNaDa
      AbdulAziz4CaNaDa Year ago +1

      Haha.. that’s not the only mistake he did 😅

  • MoreFormosa
    MoreFormosa Year ago +2

    great vid but lot of inaccuracies. Saudi oil has one lowest production costs per barrel in the world, experts believe it's close to $34/barrel, not $60-$80. And the reason for global surplus was due to more American innovation- fracking. The USA once again became the second largest producer of gas and oil in the world, leaping over Russia, Iraq, Venzuela other oil rich countries. Then OPEC maxed their production to lower global cost of oil to below the $58/barrel break even point for US frackers putting many out of production, and some out of business. This caused a big drop in global oil output, your 'peak oil' reference, it's only offline, wells mothballed, not a shortage of oil. Sadly, a US firm sold fracking tech to the Saudis, selling out our nation's leadership and oil wealth for one small paycheck from the saudis. Now the arab peninsula will become a global leader in gas production for decades to come, gas is considered a 'green' energy because it's much lower pollutants, sulphur...etc. How will they transport gas globally? By using American pioneered technology of special ships and port facilities that liquify the gas by supercooling it and storing in special insulated tanks aboard ship.

    • MoreFormosa
      MoreFormosa 11 months ago

      @A Tap Helicopter No, oil.

    • MoreFormosa
      MoreFormosa 11 months ago

      @A Tap Helicopter Sell
      price is determined by market forces, therefore changes constantly

    • MoreFormosa
      MoreFormosa Year ago

      @A Tap Helicopter sell price is determined by market and changes daily. production costs are key, as far as the ability to sell, market prices can easily out most producers out if market price is too low

    • A Tap Helicopter
      A Tap Helicopter Year ago +1

      Also, are you whinging that the US is losing control of its war-based imperialist source of income?

    • A Tap Helicopter
      A Tap Helicopter Year ago +1

      That’s the sell price per barrel, not the production price

  • Mohammed Abdella
    Mohammed Abdella Year ago +330

    As usual another great video by wendover but there are some wrong information that needs to be corrected. The cost of producing a single barrel of oil for ksa is about 5-8 dollars the 85 dollar per barrel is the amount the government need to cover its costs

    • Tony
      Tony 8 months ago +1

      cost for extraction is a thing, but for 10-20-30 usd/barrel, goverment would bankrupt no matter what they did or didnt

    • Castellazzi
      Castellazzi 8 months ago

      @Ricardo Silva china is building concentration camps for Uyghurs. They are killing people thair and you defend china? Shame on you

    • Ricardo Silva
      Ricardo Silva Year ago +1

      @srelma Its money that japanese economy dont have to import, making their economy more strong.
      Being economically strong are not the profit of the rich. Being economically strong are the down 90% common workers money savings.
      The work force from Japan are more strong because are economically more self sustainable...
      The most strong nations of the world, all them have a strong food production behind. And you think that is coincidence?
      True money are not bank accounts. True money are foods and raw materials, and know-how to know how to use them in advantage.

    • srelma
      srelma Year ago +1

      @Ricardo Silva you use words like "billions" thinking that it means something a lot.
      I gave you the value of Japan's fishing industry. It is "billions" but when the total size of the Japanese economy is trillions (about 5 trillions) it doesn't contribute much to the economy.
      I think people should never use words like billions but instead express everything per capita as those numbers are easier to grasp. The Japanese GDP/capita is $40k. The value of their fishing industry is about $100 per Japanese.

    • Ricardo Silva
      Ricardo Silva Year ago

      @Dee Snow "Who cares about high speed rail !? In USA, everyone wants the freedom and convenience of their own car. Nobody takes trains in USA!"
      Ha ha ha... Car economic slave... :)
      "Europe and Asia don't have that huge burden around their necks."
      Neither can vote in small parties, that after good work, win more votes on next election, and than replace the corrupted ones.
      Territory winning + the winner takes it all, block small parties to born and slowly rise election after election...
      USA impose 2 party system dictatorship, that are both wings from the same secret and not voted federal reserve eagle.
      "They are not getting top doctors and western medicine and MRI scans, etc."
      Neither the majority of the american citizens. I have, and for free. ;)

  • steve wright
    steve wright Year ago

    I feel like renewable energy has helped us reach peak oil without even noticing lmao

    • Privacy Lock
      Privacy Lock Month ago

      the alternatives to fossil fuels are causing demand destruction.

  • Meowat
    Meowat 8 months ago

    I think if I was the prime minister of Saudi Arabia, I would try to sell some oil to get rid of some bit of the problem.

  • Jacob Farenci
    Jacob Farenci 7 months ago

    We need more rulers like this. The kind that get off their ass to solve problems down the line rather than sit around stuffing their pockets.
    If you can keep things running you get to stuff your pockets for longer and everyone benefits after all.

    • James
      James 4 months ago

      The only thing keeping it running is oil. That's the problem. They're gonna run out of it by 2050.
      Then it'll just be either:
      A. Desert wasteland
      B. Poor country with pretty buildings
      C. A normal, rich country
      Most likely is A or B.

  • artic wolf
    artic wolf 3 months ago +1

    0:32
    The naming is wrong. It should be the opposite. Instead of Nejd, the smaller territory should be named as Hejaz. instead of hajaz, the larger price of land should be named as Nejd

  • goutvols103
    goutvols103 Year ago

    Their Vision2030 plan looks great on paper but in reality the goals will be tough to implement. Yes, women have more rights that they never had before but trying to shift to a tourist economy will not easy to implement and sustain.

  • TrumanHW
    TrumanHW 7 months ago

    AMAZED by the fact Wendover NEVER EXPLAINED WHY oil prices became VOLATILE.
    Hydraulic Fracturing in the use, and the abundance of Tight Shale Hydrocarbons.

  • mlc449
    mlc449 10 months ago

    A big misinterpretation of Peak Oil here. The theory went that supply wouldn't be able to match the huge demand in emerging economies like China and India. In fact the opposite is happening. Supply is far outstripping demand as the world increasingly moves towards low-carbon alternatives like electric vehicles, renewables and the phasing out of oil-fired power stations. Natural gas too is eating into oil's share of hydrocarbon production.

  • Marcus
    Marcus Year ago +1

    At 0:34 you have the regions Hejaz and Nejd mixed up. Hejaz forms the coastline of the red sea while Nejd is the larger eastern region.

  • BBCCheese
    BBCCheese Year ago +28

    One of the better metrics that is pointing towards peak oil these days is energy in versus energy out. When oil was first being tapped in Texas, the number was closer to 200:1, and for shale fracking, that number is closer to 5:1. Saudi oil fields are still "easy" to extract from by comparison to other oil reserves, but the broader trend holds true.

  • DC9848
    DC9848 11 months ago

    I see this video has triggered some Saudis, but great video in any case. Considering the country was a camel herding tribal land prior to discovery of oil, very likely it will return to more budget limited years after 80 years of lavish lifestyle among it's high class...

  • Jacob Nash
    Jacob Nash 8 months ago +1

    Wendover: Crude oil hit an all time high of 147”
    Russia: Hold my vodka

  • Sergio Pinto
    Sergio Pinto 11 months ago

    Saudi can make it self into the health capital of the world. Built mega hospitals, local eygptian and india staff. And the best in the world for medical industry. Medical industry will be there as long as people are there.
    Theres not a single country in the world were one can get resonable private healthcare.

  • Peter Smythe
    Peter Smythe Year ago

    "memes likening it to racing in Pyongyang."
    100% I would rather fund North Korea than Saudi. By almost every conceivable metric it's just less of a murderous repressive dictatorship and a society closer to one you'd actually want to live in.
    Religion: In North Korea, belief in any religion is tolerated, and the majority are atheists, but the third largest political party is a religious party for a pantheistic, materialist, indigenous Korean religion. The government goes out of its way to build temples for Muslims, Christians, Jews, and more as well, despite their small population. While there is limited freedom of religious organization, freedom of religion is absolutely present. Compare: Saudi Arabia, where apostasy is a death penalty offense, atheism is legally terrorism, and even Shia Islam isn't tolerated.
    Women's rights: North Korea had vastly better women's rights than the south, let alone Saudi Arabia, for decades, with the south only coming anywhere near catching up much more recently. Women make up a large portion of the workforce, are not barred from serving in the military, have the right to vote and run for office in both the political and economic sphere, have 250 days of fully paid maternity leave guaranteed by the government, have access to universal daycare and free government reproductive healthcare, and have almost identical legal status to men except small differences in things like retirement age. Most of this has been true since the 1940s when the country first formed. Women have adequate, guaranteed work and a social safety net, and are not often economically coerced into prostitution like occurs in neighboring Russia, nor are they expected to be stay at home moms economically and legally dependent on their husbands as occurs in Saudi and used to occur in the west. While women can drive just like men, a beautiful and well-developed, if obsolescent and dated, system of buses and trains, combined with the low GDP means personal car ownership is a luxury they neither want nor can afford. Whilst there is no legal gay marriage, there are also no sodomy laws in North Korea. LGBT rights in North Korea are vastly better than Saudi Arabia, and homosexual acts between soldiers are largely tolerated.
    Democracy: North Korea is legally a democratic republic whilst Saudi Arabia is close to an absolute monarchy. Regardless of what powers Kim Jong Un may have as a de facto dynastic leader, and regardless of what powers the Democratic Front for the Reunification of the Fatherland has as the overwhelming force in politics, there is nonetheless a great deal of democratic control at all levels over many aspects of society. From democratic and electoral management of workplaces to collective farming to electoral representation, to recall to party elections to local council democracy to mass meetings for candidate selection and on and on and on, North Korea has many many official ways for people to legally control their government, their economy, and their society, regardless of what distortions might exist there. All of this is completely different from Saudi Arabia, a de jure monarchy where democracy in both law and practice is extremely limited, and economic democracy is obviously near non-existent.
    North Korea is still a highly authoritarian, isolated, relatively impoverished state with a cult of personality around it's de facto leader, and a political drive to double it's territorial extent on it's own terms if at all possible by taking back control of the South, but it's morally leaps and bounds better than Saudi and has many things about it that are worthy of pride as progressive accomplishments even relative to western countries, especially when you consider how tough a situation it's in, from the standpoint of having few true allies and many powerful enemies that would rather see it starve than succeed. Saudi Arabia has no pretense of being anything but a regressive dictatorship, literally a monarchy, and there's very little progressive about anything it's ever done. Despite the fact that it frequently gets bidding wars between global powers over who can suck up to it the hardest.

  • phlave
    phlave 10 months ago

    Great documentary, Sam! Pls don't go into any Saudi embassy any time soon.