{"id":6717,"date":"2016-04-06T11:34:21","date_gmt":"2016-04-06T10:34:21","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=6717"},"modified":"2016-04-06T11:34:21","modified_gmt":"2016-04-06T10:34:21","slug":"end-oil-age","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=6717","title":{"rendered":"End of the oil age?"},"content":{"rendered":"

\"Rub_al_Khali_002\"<\/a>Is Saudi Arabia signalling the end of the oil age?\u00a0 There has been a lot in the press overt the last few days about the sell off of Aramco and this signifying the end of the oil age.\u00a0 The Saudis have been quoted as saying they think the oil age is coming to an end and this is why they want to sell off their state oil company Aramco.\u00a0 This would yield a 2 trillion dollar sovereign wealth fund which they would invest abroad to survive after the oil age.\u00a0 However as some sceptics in the press rightly raise is this really what is going on?<\/p>\n

Firstly, its only going to raise 2 trillion dollars if the country flogs the lot.\u00a0 Is Saudi Arabia really going to sell everything off leaving no control over any part of it.\u00a0 There is talk of selling 5% for starters.\u00a0 Still a huge amount of money but hardly a sovereign wealth fund.<\/p>\n

The second question is are the Saudis going to open up their books to the world particularly as regards reserves, which many people think are overstated?<\/p>\n

Lastly, will the Saudi public actually see the money after the last few days news about the “Panama Papers”?<\/p>\n

A sovereign wealth fund is a great idea but can only help an economy not substitute for it.\u00a0 Saudi Arabians will need something to do on a day to day basis.\u00a0 Also as this article suggests maybe they have not given up on oil totally<\/a> after all…<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

Is Saudi Arabia signalling the end of the oil age?\u00a0 There has been a lot in the press overt the last few days about the sell off of Aramco and this signifying the end of the oil age.\u00a0 The Saudis … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[182],"class_list":["post-6717","post","type-post","status-publish","format-standard","hentry","category-peak-oil","tag-oil-age"],"yoast_head":"\nEnd of the oil age? - The oil lamp - shining God's light on peak oil<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=6717\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=6717\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=6717\",\"name\":\"End of the oil age? 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