{"id":19136,"date":"2018-12-05T18:44:29","date_gmt":"2018-12-05T17:44:29","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=19136"},"modified":"2018-12-05T18:44:29","modified_gmt":"2018-12-05T17:44:29","slug":"saudi-arabia-is-no-longer-too-big-to-fail","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/oil\/saudi-arabia-is-no-longer-too-big-to-fail","title":{"rendered":"Saudi Arabia is no longer \u2018too big to fail\u2019"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\" data-attachment-id=\"19132\" data-permalink=\"https:\/\/michelsanti.fr\/en\/oil\/saudi-arabia-is-no-longer-too-big-to-fail\/attachment\/mbs-2\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/12\/MBS.jpg?fit=750%2C375&amp;ssl=1\" data-orig-size=\"750,375\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"MBS\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/12\/MBS.jpg?fit=300%2C150&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/12\/MBS.jpg?fit=750%2C375&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/12\/MBS.jpg?resize=300%2C150&#038;ssl=1\" alt=\"\" width=\"300\" height=\"150\" class=\"alignnone size-medium wp-image-19132\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/12\/MBS.jpg?resize=300%2C150&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/12\/MBS.jpg?w=750&amp;ssl=1 750w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>Is Saudi Arabia still an important partner to the US? The question answers itself, at least partially, with the Middle East having drastically changed since the strategic and fundamental alliance made in 1943 by President Franklin Roosevelt and King Abdulaziz Ibn Saud. It\u2019s now a distant time when FDR boldly, vociferously claimed that \u201cthe defence of Saudi Arabia is vital to the defence of the US\u201d. It\u2019s also a long time since the Cold War, when the US had a strong ally in Saudi Arabia determined to halt the advances of the Soviets into the Persian Gulf. And far gone the good old days when America would send 400,000 soldiers to protect the Saudis and their neighbours from the wrath of Saddam Hussein.<!--more--><\/p>\n<p>In truth, the ambitions and initiatives of the US\u2019s foreign policy have been greatly watered down, proportionately to how dependent the country is on Middle Eastern oil. This is because the undeniable, inalienable fact is that the US is now the world\u2019s leading oil producer, ahead of Saudi Arabia! This pact made between Roosevelt and Abdulaziz that had as its basis a convergence of objectives \u2013 Saudi oil in exchange for American protection \u2013 therefore no longer serves any purpose. It was made to battle a common enemy, the Soviet Union. It could even be described as an ideological objective, with Washington hoping to gain the support of the Saudis to topple Saddam, to then establish a democracy in Iraq that would spread throughout the region. Now, the US has no need for Saudi oil and has come back down to Earth after very long and tenuous ventures in Iraq and Afghanistan.<\/p>\n<p>Funnily enough, Saudi Arabia now finds itself even more dependent than before on American protection, at a time when its leaders are trying somehow to maintain domestic peace and stability. However, the drama for the Saudis is that American interests are now in stark contrast on the crucial matter of petrol tariffs, tariffs that the Saudis would like to be as high as possible to finance their regime, and that Donald Trump wants to decrease further for his own domestic economic interests. This Saudi Arabia that currently counts 32 million inhabitants \u2013 half of whom are less than 25 -, 9 million of whom are foreign nationals, doesn\u2019t look much like the one founded in 1932 anymore, a kingdom made up of a million impoverished nomads.<\/p>\n<p>However, the regime\u2019s fundamentals have stayed the same because it\u2019s still as dependent on its oil revenues. And it\u2019s not Prince Mohammed\u2019s (now affectionately referred to as \u201cMBS\u201d) gargantuan projects that will change the game since his \u201cVision 2030\u201d, his appetite for nuclear plants and other technological city at 500 billion have been criticised as neglecting the daily needs of his compatriots, who were not asking for much, out of fear for their livelihoods. The staggering costs of his megalomania and the nonsensical war in Yemen could have been used to modernise the economy and make it less dependent on oil revenues by creating jobs for Saudi citizens, who are extraordinarily dependent on the generosity of the government.<\/p>\n<p>Today, the only argument in favour of keeping the Saudi royal family in place is negative, based on a fear of the unknown, and of the arrival in the country of a chaos similar to Syria\u2019s and Iraq\u2019s. But it is impossible to build and grow on these bases, as Trump so crudely and lucidly outlined: \u201cthe kingdom might not last for two weeks without us.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is Saudi Arabia still an important partner to the US? The question answers itself, at least partially, with the Middle East having drastically changed since the strategic and fundamental alliance made in 1943 by President Franklin Roosevelt and King Abdulaziz Ibn Saud. It\u2019s now a distant time when FDR boldly, vociferously claimed that \u201cthe defence&hellip;<\/p>\n","protected":false},"author":4,"featured_media":19132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[648941289,648941288],"tags":[],"class_list":["post-19136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil","category-saudi-arabia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Saudi Arabia is no longer \u2018too big to fail\u2019 - Michel Santi<\/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:\/\/michelsanti.fr\/en\/oil\/saudi-arabia-is-no-longer-too-big-to-fail\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Arabia is no longer \u2018too big to fail\u2019 - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"Is Saudi Arabia still an important partner to the US? The question answers itself, at least partially, with the Middle East having drastically changed since the strategic and fundamental alliance made in 1943 by President Franklin Roosevelt and King Abdulaziz Ibn Saud. 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Having led a foreign policy at complete odds with that of the other Gulf nations. Things had been seriously flaring up between these different emirates (and Saudi Arabia) under the reign of the last Prince Hamad bin Khalifa Al Thani, who came to power in 1995. Then,\u2026","rel":"","context":"In &quot;Saudi Arabia&quot;","block_context":{"text":"Saudi Arabia","link":"https:\/\/michelsanti.fr\/en\/category\/saudi-arabia"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13794,"url":"https:\/\/michelsanti.fr\/en\/saudi-arabia\/the-saudi-blockade-a-blessing-for-qatar","url_meta":{"origin":19136,"position":1},"title":"The Saudi blockade: a blessing for Qatar?","author":"Michel Santi","date":"March 26, 2018","format":false,"excerpt":"Qatar is an island. At least, it has become one, but not without gradually forging new alliances and trade routes that will influence the balances in the Middle East in the long term. This is how, more than nine months after feeling the wrath of Saudi Arabia, Qatar has now\u2026","rel":"","context":"In &quot;Saudi Arabia&quot;","block_context":{"text":"Saudi Arabia","link":"https:\/\/michelsanti.fr\/en\/category\/saudi-arabia"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Qatar.jpg?fit=1200%2C473&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13632,"url":"https:\/\/michelsanti.fr\/en\/saudi-arabia\/checkmate-for-saudi-arabia","url_meta":{"origin":19136,"position":2},"title":"Checkmate for Saudi Arabia","author":"Michel Santi","date":"September 12, 2015","format":false,"excerpt":"The debacle of oil prices has greatly exceeded that of the global financial crisis of 2008 and the Asian crisis of 1998. And it is much more severe. At the end of this summer of 2015, OPEC is just a shadow of its former self: simply put, it has been\u2026","rel":"","context":"In &quot;Oil&quot;","block_context":{"text":"Oil","link":"https:\/\/michelsanti.fr\/en\/category\/oil"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/AI.jpg?fit=930%2C620&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/AI.jpg?fit=930%2C620&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/AI.jpg?fit=930%2C620&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/AI.jpg?fit=930%2C620&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13670,"url":"https:\/\/michelsanti.fr\/en\/saudi-arabia\/saudi-arabia-black-swan-of-2016","url_meta":{"origin":19136,"position":3},"title":"Saudi Arabia: black swan of 2016","author":"Michel Santi","date":"January 14, 2016","format":false,"excerpt":"The Angolan kwanza collapsed by 15% in a few hours as soon as the country\u2019s authorities effected its devaluation a few days ago. Last month it was Azerbaijan\u2019s currency, the manat, which lost a third of its value in a few hours when its national central bank decided to abandon\u2026","rel":"","context":"In &quot;Oil&quot;","block_context":{"text":"Oil","link":"https:\/\/michelsanti.fr\/en\/category\/oil"},"img":{"alt_text":"P\u00e9trole","src":"https:\/\/i0.wp.com\/michelsanti.blog\/wp-content\/uploads\/2018\/10\/P%C3%A9trole-1-267x300-267x300.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":13817,"url":"https:\/\/michelsanti.fr\/en\/saudi-arabia\/saudi-arabia-is-losing-whats-left-of-its-credibility","url_meta":{"origin":19136,"position":4},"title":"Saudi Arabia is losing what\u2019s left of its credibility","author":"Michel Santi","date":"September 4, 2018","format":false,"excerpt":"\u00a0 The Saudis\u2019 decision to suspend indefinitely the sensationally announced sale of 5% of the national oil company, Aramco, has called the credibility of the Prince, Mohammed bin Salman, directly into question. The offering of this giant on the stock market was in fact the cornerstone of the Prince's politics,\u2026","rel":"","context":"In &quot;Saudi Arabia&quot;","block_context":{"text":"Saudi Arabia","link":"https:\/\/michelsanti.fr\/en\/category\/saudi-arabia"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Saudi_Arabia.png?fit=553%2C553&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Saudi_Arabia.png?fit=553%2C553&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Saudi_Arabia.png?fit=553%2C553&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13799,"url":"https:\/\/michelsanti.fr\/en\/saudi-arabia\/qatar-saudi-arabia-a-cold-peace","url_meta":{"origin":19136,"position":5},"title":"Qatar &#038; Saudi Arabia: a cold peace","author":"Michel Santi","date":"April 22, 2018","format":false,"excerpt":"According to statements made by the then President of Yemen, Ali Abdullah Saleh, \u201cQatar has too much money\u201d. In fact, only the insiders were familiar with this Emirate prior to the 1990s, even though the little State has distinguished itself as the richest in the world per capita thanks to\u2026","rel":"","context":"In &quot;Saudi Arabia&quot;","block_context":{"text":"Saudi Arabia","link":"https:\/\/michelsanti.fr\/en\/category\/saudi-arabia"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/golfe-carte.jpg?fit=655%2C502&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/golfe-carte.jpg?fit=655%2C502&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/golfe-carte.jpg?fit=655%2C502&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/19136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=19136"}],"version-history":[{"count":0,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/19136\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/19132"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=19136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=19136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=19136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}