Perhaps one of the most important factors in the Saudi economy – still, but not forever – is the price of oil. It directly affects the Saudi budget and spending, and, let’s face it, has helped to usher the Saudi economy into the age of modernity and globalization.
While important and impactful for the Saudi economy, it likewise has a major affect on the US economy, though in a different way because we are on the demand side. Higher oil price means higher gas prices, which means a change in the way Americans travel and commute and in costs of shipping and other materials. If you’re reading this website, you’re likely to already know this.
So, what is your prediction for oil’s price in 2011?"
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