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Earlier this 12 months, simply when everybody began staying house, oil costs tanked and so they tanked arduous. The coronavirus was a part of it, however Saudi Arabia and Russia have been additionally flooding the market with oil, which turned out to be disastrous for a lot of Canadian oil producers.
This week, on All the way down to Enterprise, Justin Scheck, a reporter on the Wall Road Journal and co-author of Blood and Oil, a brand new e book about Saudi Arabia, mentioned how the oil-rich nation is making an attempt to diversify its financial system.
The e book takes a more in-depth take a look at Crown Prince Mohammed Bin Salman, or MBS as he’s higher recognized, who has been making enormous bets on tech corporations with cash from the nation’s oil revenues. You’ll have heard his identify in 2018 after the Washington Put up columnist Jamal Khassoghi was murdered in Turkey, which many individuals have linked again to MBS.
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That very same 12 months, a diplomatic rift opened between Saudi Arabia and Canada, after now-Deputy Prime Minister Chrystia Freeland tweeted concerning the nation’s abhorrent human rights file. Scheck defined the lingering tensions, and likewise how Canada’s arms commerce with Saudi Arabia persists regardless of every little thing.
Pay attention on Apple Podcasts, Spotify, Stitcher and Google Play, the place it’s also possible to subscribe to get new episodes each Wednesday morning.
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