when you reckon will be the end of petrodollar ?
4 things Saudi Arabia’s economic reform plan says about oil
Saudi Arabia on Monday said that it plans to make itself capable of living without oil within the next four years—a very ambitious goal for a country that exports more of the energy source than anyone else in the world. The kingdom approved a long-term blueprint for economic reform dubbed “Saudi Vision 2030,” which aims to reduce the country’s dependence on oil revenues. It’ll be quite a challenge for a nation that still saw about 70% of last year’s revenue come from petroleum despite the steep drop in prices since mid-2014. “By 2020, we’ll be able to live without oil,” Deputy Crown Prince Mohammed ... (full story)