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![]() ![]() ![]() Future of the Saudi Economy (2 of 2)
The Kingdom of Saudi Arabia possesses a quarter of the world’s known recoverable oil reserves. Other exploitable oil fields in other parts of the world will, no doubt, be found and existing or even new alternative forms of energy may be developed but it seems certain that, in the course of the first decades of this century, the oil reserves of many countries, currently net exporters, will be exhausted. It is to be hoped that, as this happens, the decreasing number of producing nations and the increasing number of oil-importing nations will develop a sane, global economic policy which will be fair to both sides and will make best use of a dwindling energy resource. King Fahd’s view of how the world’s oil resources should be managed will eventually prevail. Whatever the case, the Kingdom’s revenues from oil are likely to rise again. Precisely how that increased revenue will be deployed cannot be determined now, but we can be certain that the same principles which have informed King Fahd's thinking and governed the Kingdom’s Development Plans will be brought to bear in formulating new plans for the maintenance of Islam, for the enhancement of the quality of life of Saudi Arabian citizens, and for the continued development of the Kingdom’s economy.
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