Imagine growing up in the modern day world and having no future.
No education. No upward mobility. No right to pursue a better life beyond just a few crumbs of financial sustenance.
This is the reality in most Arab countries and former Soviet republics. It’s a world where opportunities are almost non-existent and certain cliques and clans determine who has the exclusive right to get ahead.
I grew up traveling the world in a family business — the food import business, to be exact. I have learned that in the West there is a tendency to believe folks can overcome Herculean odds in the pursuit of that better life, whatever and wherever it may be.
That opportunity just isn’t there in these places where even geniuses can be damned to a life of a terminally squalid environment. It’s a shame. But what if instead of investing billions of dollars in armaments and other forms of support to these idiotic regimes, we tipped the scales of supply and demand a bit in favor of the billions of little guys and little girls?
Let me explain.
Notwithstanding Remy’s hugely popular Saudis in Audis rap video, it appears that Saudi Arabian King Salman and his entourage prefer Stuttgart and Detroit to Ingolstadt.
The King and his retinue arrived at Andrews Air Force Base on Thursday, flying in on four Boeing 747 airliners for a state visit with President Obama. A fleet of Mercedes-Benz S Class sedans, Cadillac Escalade SUVs, a couple M-B Sprinter vans and what looks like one International school bus were awaiting Salman and his attendants. Carol Lee, the White House correspondent for the Wall Street Journal tweeted out the photo above. (Read More…)
Iran’s oil minister has said that an emergency OPEC meeting may be necessary to stem the tide of slumping worldwide oil prices, Reuters is reporting. Algeria has also called for an emergency meeting.
A barrel of crude oil slid to its lowest price last week of around $40, the lowest in more than six years. Record low gas prices could closely follow, which would help American drivers and car buyers, however the broader economic impact may be tougher to discern. Worldwide markets sank on Friday, largely on fears that China would slow its economic growth and instability in Greece could hamper European economies.
How long will Saudi Arabia allow oil prices to drop as the country’s production remains unchanged? Only Allah knows the answer.
After the end of the first phase of a military campaign in Yemen, one Saudi prince decided to reward the pilots with Bentleys for a job well done.
While some OPEC nations are panicking over oil prices not being above $100/barrel, Saudi Arabia says it wouldn’t mind accepting barrels worth $90 or $80 for the next year or two, so long as it slows down production elsewhere.
As in the United States, Europe and Japan, Saudi Arabia is now mandating new vehicles be more fuel efficient. Like the U.S., however, the Saudis will put the onus on the automakers without raising a cent on fuel prices.
In a “build them where you sell them” move, Saudi Arabia’s commerce ministry says it has signed a $1.2 billion deal with Jaguar Land Rover to build a 50,000 unit Land Rover factory in the country. JLR still plays hard to get and said that “this is purely exploratory” when contacted by Reuters. (Read More…)
Tata is looking at twinning a new aluminum smelter with a vehicle assembly plant that would build Land Rover products.
Isuzu is joining the “let’s flee Japan and the rising yen” bandwagon, and their latest venture involves assembling export-bound trucks in Saudi Arabia.