Saudi Arabia

There sure is a lot riding on this country. Lets look at the facts:
1) Only 23 million people live there and of that number 27% are expatriates.
2) Their GPD is only $365 billion. (GE's market cap is bigger) and obviously a majority of that is oil related.
3) The have $100 billion of debt.
4) Their foreign reserves total only $28 billion.
5) FDI (foreign direct investment) is only 1.5% of GDP or $5 billion.
6) Their entire economy and stock market is closed to outside investors.
7) It is projected that the country needs $625 billion of FDI in the next 14 years, of which a majority is for oil and gas exploration and production.

Oil is in a long term bull market. Saudi Arabia, like Russia, Venezuela, Mexico, and Iran are NOT making the much needed forward investment to challenge the rising global oil depletion rates. Canada's recent change in tax law will also slow production as they are our largest exporter.

This warm weather is more related to El Nino than global warming....yet no one wants to mention this!

Danny Boy seen here has plenty of options...he sheds his fur coat when it gets warm and grows it back when it is cold!