Recent market rally grinding to a halt with oil going back down again to $35 levels. Also saw an article when we see the biggest producer Saudi Arabia preparing for post-oil economy, this to me means only one thing. Oil is going down for real. Article here .
It’s not all bad news however, this means their dependency on oil being lessened will push them to grow other parts of the economy which will advance other industries or professions. Maybe we will see more women becoming more engaged to be a contributor to their economy, much like what other countries have been doing to empower half their population. Maybe when they let their women drive we will see more pink cars going about . The CIA World Factbook lists the following age structure for Saudi Arabia:
15-24 years: 19.11% (male 2,839,161/female 2,463,216)
25-54 years: 45.9% (male 7,244,386/female 5,495,284)
Perhaps then with the half of the 65% of the population being able to drive, voila! an increase of at least 20% in oil demand ! Certainly more revenue for the government, but wait, it does not stop there, we can see more economic activity with the freer movement of Saudi ladies,,,, think, more roadtrips to interesting places, souvenirs being sold, more school activities where they can bring children, more shopping malls 🙂 the possibilities are endless!