Comments by "Sedna063" (@Sedna063) on "CNBC International" channel.

@ndorobei4391 Nah. Gulf states that you mention use a rentier system that they can afford because they have low population numbers and lots of oil. Algeria has been much more populated than others and with less oil, Syria doesn't feature strongly as an oil country, it was a net importer. Iraq suffered under several wars and the ill-constructed nation it is. Yemen has no oil, Libya couldn't manage to become a union after the war...
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@phillypitch They didn't freeze the aircraft. They reregistered them and use them now without proper certification. They lose value like this, and potentially airworthiness.
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Given how many nations have decided to move away from fossil fuels - this is not a question of supply but demand. Nonetheless, one day there will be peak oil.
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The reason we talk about peak oil is not supply but demand. Many countries have ambitious projects to get rid of their reliance on foreign energy sources. Places like Morocco already save billions annually in costs for energy since they source it at home. Europe wants to get energy independent now, China just announced 450 GW of solar power installation. Electric cars will become more and more important - and since the biggest share of oil goes to transport, this will change. Electric cars will win it in the future. They are becoming better and better not only from the specs but also by genuine advantages such as far less complicated design (less moving parts, no engine that requires 1000s of controlled mini explosions) and maintenance costs (no motor, no oil change...) Oil consumption is declining in parts of the world and this will accelerate as non-oil solutions will continue to become more economic.
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What is so complicated? You have two votes. One for a candidate and one for a party...
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Stop spamming
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We didn't steal them. They are in holding. Assets frozen that will be returned. Russia just stole the planes and uses them without certifications - ruining their airworthyness and value.
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Not stolen, frozen.
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Not exactly. They should have focused on skills and not rote learning. Labour market reforms etc. Like Japan, South Korea did.
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Some, not all. And those aforementioned sectors (sports, entertainment) are very sensitive to global pressures such as economy and covid, for example. Dubai was hit hard when the financial crisis hit in 2009. You are extremely optimistic but right now, I don't share it. Right now, they source so much of their revenues from oil, only 2 countries in GCC make less than 40% - and those are small nations and still rely to 30% on oil. UAE without oil would be a much poorer country.
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And why would we do that.
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@bear6284 If there is no use for oil anymore, why invade the country?
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Nah. 1. More products are made from oil but it is not assured that everything must be made from oil. 2. Oil powered farming equipment can be electrified. 3. Again, electrification. 50% of oil goes into a burner. Assume that we cut that figure by half, then only 75% left. Residential is 7% of oil use. Insulate and become electric. All other stuff like plastics... is 30%.
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@grahammewburn Manking will do when the costs are outweighted by the benefits. As the oil price currently is so high again, many nations are urgently investing. EU is all but determined now to be much more self-reliant by 2030.
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Probably the latter.
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Given the last rainy week here in Europe, no worries.
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@trialedge7451 1. You are forbidding generalisation for Europe yet you make a complete generalisation for the Middle East. Hint, not all Middle Eastern countries are rich to buy desalination. 2. Most European countries do not suffer water crisis like the Middle East does.
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You started your thread with the wider Middle East. Water shortage is a global problem but it is exacerbated in the Middle East, sorry about that.
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Lol please what? Germany isn't pure in any case. And alcohol consumption will not aid you
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So the US and NATO command the Russian army?
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Should have realised this for the most part the day they found the oil. UAE did so in the 70s but imaging what they could have done with the money had they decided not to become rentier states. Check out Norway, they will be fine without oil.
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Just wait, they will fall again.
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It will not be more peaceful. Many conflicts in the Middle East are among nations without oil. 1. Morocco-Western Sahara 2. Morocco-Algeria. 3. Libyan civil war 4. Egypt - instability on Sinai 5. Israel-Palestine 6. Israel - Syria 7. Israel Lebanon 8. Sectarian conflict in Lebanon 9. Sectarian conflict Iraq 10. Political conflict Iran - Saudi Arabia 11. Turkey - Iran 12. Saudi-Arabia - Yemen Just to name some. Not many are over oil. I expect this to become more violent once oil runs out. Gulf will no longer be able to afford buying off citizens, millions of other people will have to return home and add to unemployment. No more remittances from the golf and no more trade = heavy slump of economy. Less resources to tackle problems - expect sectarian strife, revolutions, civil wars; it's too bad I live in Europe. It is too close.
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Just look at the water protests in Iran and the depleting aquifiers in Northern Africa...
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@TawfiqElfakharani Are we talking about the same Egypt and North Africa here?
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Gold alone could not sustain them.
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Please point out how those sanctions are illegal. Don't just talk what Lavrov says.
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Absolutely but the demand won't be as high. 100 million barrels of oil are used a day. If that drops to 50 it would wreak havoc on many finances.
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The problem with Russia is that they use a test that has a high rate for false negatives.
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@bear6284 Saudi Arabia may have other resources but so do the US. They are well endowed
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Where will they get the food for all the camels.
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@Tjalve70 Hijab is not required anymore in Saudi Arabia but unfortunately in Iran it is.
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@minhazali4090 They do but that doesn't mean they are successful. They did those steps 15 years ago already and failed. Vision 2030 is not the first or last of visions in GCC. As for Norway, they did a great job with their oil. Kept it out of the hands of the politicians and invested the revenue into the fund or into sustainable economic policies. Didn't finance a bloated government sector with lots of cash incentives to keep population happy. Saudi Arabia wants tourism, not just because of money but because tourism is wonderfully labour-intensive. Can absorb a lot of the young kids that are currently unemployed. US makes 193 billion dollars. France 63, Spain 79. Thailand 60, Germany 41... Saudi Arabia wants 150 billion dollars in tourism by 2028. Illusoric imho. That would mean beating classic tourist destinations beloved all over the world.
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Definitely an element of truth, although this is changing. More problematic is that despite their efforts in education, countries tend to emphasise rote learning and not skill learning. Unis are also more to award a degree than to gain necessary skills. There is a mismatch between skills demanded and skills in supply - leading to the high ratio of foreigners in leadership positions.
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Your money isn't gone. It is frozen. It can be unfrozen and return 100%. Our planes (belonging to private companies) will lose value drastically. And don't forget, you started it.
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Nah, they are too rich for that, there is too much money in the land. But instead of top 10 in GDP/Capita, they might only land in Top 50, so more like Czechia or Slovakia or Turkey
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@harukrentz435 Sure, I know of Nauru but there is still so much money in the land. It won’t evaporate. Undoubtedly they won’t built super large skyscrapers without need anymote
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It's not a sanction. It's just basic theft
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UAE still makes 30% of their revenue from oil. That's 1/3 - not as much as KSA does but still a huge amount of money that would be missing.
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