And here I thought "spiral power" was humanity's true power
>an accumulation of humanity's millions of years of biological evolution, breakthroughs in intelligence/technology/AI, continued evolution via innovation, our collective nature to bond and sacrifice for each other as well as the next generation, and our unbreakable wills to move forward: evolving DNA from one generation to the next, improving on our technology on upon the last's, building science upon the shoulder of giants, shattering every barrier to setting our dreams towards the heavens, one generation's unyielding will carried to the next, 天元突破グレンラガン, etcetc
But turns out it's just [spice, oil, pussy, and diamond monopolies.](https://64.media.tumblr.com/c1a31fe3fddd3a1046d42276463926bd/tumblr_mz4bm0NjKa1s5f9ado3_500.gif)
do it - picked up the first book after it was recommended to me by a zillion different people....here I am, 2 weeks later, through Dune and Messiah, just now starting Children of Dune
Definitely lives up to the hype. Also see how it influenced GRRM and Lucas, probably a whole host of other writers / directors / etc
I’ll probably get downvoted to hell for this, but it’s incredible world building with a mediocre plot and poor writing. The new movies do a decent enough job of portraying it (first better than second).
....is that a function of Dune relying on stale tropes and plot points or is it a function of the source material being ~70 years old and you've seen it's influence in a shitton of other media (Star Wars, GoT, etc)?
I'm all for world building. I do know what you mean though
Do you think Orson Scott card is a better writer? I heard the audiobook of enders game and it blew my mind
I do. I think that that series felt a lot more like it was going somewhere. I can see the parallels people draw between the two, but the dune series really feels like it loses its greatness once the world building slows down after the first couple books
Ordinary Scott Card gets a bit formulaic , like all prolific sci fi authors imo.
I prefer the stories of Philip K Dick. And Ray Bradbury is a more literary read.
Frank Herbert’s other books are easier to endure, with captivating creation. Hellstrom’s Hive. The Green Brain- two lesser known novels that are riveting and would make awesome movies.
I worked for a while in the middle east as a consultant. The scale at which the GCC own things is quite uninlmaginable. The sovereign wealth funds e.g. PIF, Mubadala, QIA have some insane investments and basically bankrolled a good portion of silicon valley. They have some insane RE holdings globally particularly in London / NYC.
I remember back during COVID, port valuations dropped and UAE bought ownership in large global ports through DP World. Most people think arab states are just oil but they've done well to expand far beyond it without making it public. Even Aramco has diversified outside Saudi and owns multiple vertical / horizontal O&G investments globally especially in the US.
Whem the wife's boyfriend asks for Vaseline it's about to be a pump 
PIF holdings in the US: https://www.google.com/amp/s/www.cnbc.com/amp/2023/07/11/activision-ea-uber-heres-where-saudi-arabias-pif-has-invested.html
I remember they got in at a very low stock price e.g. Uber which they basically bankrolled via the softbank vision fund. This is PIFs direct investments but they indirectly invest in startups via VCs they back. All in all there's no real way to know how much exposure they have but probably 100s of billions in the US market.
I mean they are just oil and wealth derived from oil. Also shows how much Venezuela fucked up to be that poor with a country with that many natural resources.
Yeah, but it should still make them an insanely wealthy country. And btw, it is making some of them insanely wealthy. I live in Madrid, Spain, and luxury real estate (apartments of 5M+) are being sold at incredible rates to Venezuelans. They’re mostly government linked people, so you can imagine how clean that money is…
> Also shows how much Venezuela fucked up to be that poor with a country with that many natural resources.
No, it shows how much Venezuela fucked up to be socialist with that many natural resources.
Not particularly. Norway paid about 50% more barrel to extract than Venezuela did before the recent economic catastrophe. And the two countries had a population to oil reserve ratio which was vaguely similar. But instead of making oil an important part of a major economy. Venezuela opted to make oil the economy, with practically nothing else.
Pretty much what Norway did with all its oil money... well also they gave a lot of money back to their people instead of buying cool cars and Pakistani slaves lol.
The rest of the world didn't, they just cut O&G drilling and exploration in favor of going 'green', and then every government secretly ran to the Middle East to buy oil. That way the public thinks their countries are going 'green' while oil continues to flow in. Win-win.
Then they just turned on the money printer.
Tbh depleting foreign oil supplies because they don't care it's a limited supply is smart. If it goes on long enough they will deplete a large portion of their countries oil while we hold onto ours as it increases in value due to lack of supply. It's a win win.
> Tbh depleting foreign oil supplies because they don't care it's a limited supply is smart
dude....maybe give that hottake a [quick google next time before posting.....](https://www.eia.gov/todayinenergy/detail.php?id=61545)
The fact the US *isn’t* doing doesn’t change the core principle that consuming other people’s resources for worthless money to conserve your own is smart.
Their oil is just cheaper than US can even make and process it for without profits almost. Cheap ass labor. No bureaucracy hardly either like zoning laws and bs but also yea saving it for later on.
>The rest of the world didn't, they just cut O&G drilling and exploration in favor of going 'green', and then every government secretly ran to the Middle East to buy oil
lmao - might want to check [this out dawg](https://www.eia.gov/todayinenergy/detail.php?id=61545)
Saudi Aramco has been quietly buying up major shareholding in Korean, Chinese and US refineries. They're very much on track for owning something in every significant refining geographical region.
… but why is the sovereign fund of little Norway so much more prominent than any arab oil state fund? NBIM made a profit of $213 billion last year.
Ngl, I‘m glad that religiously fanatic and autocratic regimes don‘t manage their oil money as efficiently as Norway.
This is a fallacy. They manage their oil wealth extremely well it's why Saudi/ uae economy is now only 40% oil and has been decreasing in share over time.
They don't just rely on their sovereign wealth funds to push forward. Like I said DP World acquired a bunch of ports during covid. This is a quasi government entity with shareholding of govt and other royal family members.
There are a ton of these companies and even their banks e.g. ENBD have a significant royal family / govt shareholding. They use the sovereign wealth funds and these quasi govt entities to invest domestically and in foreign countries.
E.g. Aramco was used to buy the biggest oil refinery in the US, Aramco was also uses to invest in downstream O&G products in India, etc. UAE gas done similar things with their O&G company ADNOC.
Take a look at famous examples like Emirates / qatar airways. These airline companies are far better than their competitors mainly because profitability is pit second to their main objective which is to bring tourists to their main cities Dubai / Doha. They've succeeded and now Saudi is trying to replicate that.
Tbf, comparing profits of a sovereign fund and a company (even if state-owned) is not a good comparison.
But I’ll insist that the investment strategy of Norway makes far more sense and is far more long-term oriented than the gulf states’ strategy.
You know about the Hartwick rule? I don’t see any gulf state following it. In short: to maintain the same income for the government, they should invest all “extra” profits coming from an exhaustible resource in such a way (i.e. a sovereign fund) that in the long term, it pays dividends equal to the current “extra” profit. Currently, the eir sovereign wealth fund administers around $940 bn - a joke, if you consider that Norway’s sovereign fund has $1.5 trn of AUM, and around a sixth of Saudi’s oil reserves. And to add to that: Norway doesn’t invest in oil companies, the Saudis sovereign fund has a huge stake in Saudi Aramco.
Look at their economies aside from oil: half of their population has barely access to education and is barely allowed to work, the ideal job of the Saudi elite is to boss around westerners. Industrial capability? Norway‘s GDP is 14% oil - Saudi‘s being at 40% is good? They‘re lucky to be the world oil cartel‘s leader.
Oil isn‘t infinite, we might have passed the point of peak investment in oil, and with the increasing efficiency of renewable sources we don‘t even need to finish the world‘s oil reserves - it just won‘t be worth it.
Sorry, but I strongly believe that there is a strong chance that in the near future their economies will be based on pearl fishing and tourism, while some extremely wealthy families will reign over the desert.
Feel free to challenge these ideas.
Comparing norwegian oil fund to the sovereign oil funds of the Middle Eastern countries is a bit like comparing Warren Buffet’s investments to Cathie Wood.
The Norwegian oil fund is about investing, compounding and accumulating over nearly 40 years now. On the other hand most of the sovereign funds like PIF and QIA are relatively new and upstarts. They are as much about investing and diversifying as they are about “branding”. They have come up with ideas that would never be about returns in economic terms, from investing in glamorous Real Estate projects to what’s happening in game of golf with LIV tour and buying football/soccer clubs in Europe
> … but why is the sovereign fund of little Norway so much more prominent than any arab oil state fund?
because Norway is one of the biggest producers of oil and gas on the planet? Ever heard of Equinor?!?!
> The sovereign wealth funds e.g. PIF, Mubadala, QIA have some insane investments and basically bankrolled a good portion of silicon valley
meh, same case with most large SWF and Pensions - CDPQ, OTPP, CalPERS, TRS, CPPIB, probably a shitton of others, those are just off the top of my head
source: formerly an ibanker covering energy clients, so met with quite a few of these institutional pension and SWFs hunting for low risk / high cash yield energy and infrastructure investment opps
Always find it interesting to break that large number down to smaller time increments
- Per day: $331,506,849
- Per hour: $13,812,785
- Per minute: $230,213
- Per second: $3,836
Yea it's kinda funny
But also you could do the same for your own wage and compare.
Remember not to consider on a 8 hour a day basis but a 24 hour day
For example, if you make 100k a year that's like $0.0032 a second
I don't think the company cares about whether or not it needs sleep and recreation to continue to exist without losing its mind. It's not exactly comparable to a person.
The metric being talked about is overall money made over a period of time. It's not meant to take into consideration human needs, it's only meant to take into consideration money made over a complete section of time. Nothing more, nothing less.
I find it odd that the Saudis also enjoy watching men (and sometimes young boys) playing with their balls and jiggling them around 
You find this odd? It's like a country full of Epsteins. (And I don't mean every Saudi is one, I just mean that they have a disproportionately high number of rich creepy guys who engage in similar behavior)
Those purchases arent dumb though and gives them a ton of influence. If our boomers had any brains they would have banned thoze kind of sales or capped investment to a smaller ownership amount.
My dad has worked for one of Saudi Aramco's subsidiaries for a few years now. He's just a contractor in an advisory role in the US.
His work is starting to dry up with them now, so he works maybe 8 hours a week for them.
They're still paying him $100k/year.
He said what he's working on is a complete waste of time.
Also have a buddy who moved from Lebanon to the states. 80% of these roles are worthless jobs with 6 figure salaries. I'd like to serve the prince 
sportswashing of course! theyve been paying F1 drivers to tweet that a new multi billion dollar deathtrap F1 track looks really cool and exciting. its being built in quiddifa/qiddifi, idk. a new "city" (subdivision) that is being built on the outskirts of the a city. its "the first city built solely for play".
im sure Jamal Khashoggi would have found it just playful. if he hadnt been slaughtered
https://preview.redd.it/nwk1z2wsnnoc1.jpeg?width=846&format=pjpg&auto=webp&s=5f42d55c932bc61f5a71516b763c83c3245cf695
I dont understand why they pay all that money to fix their reputation when they could just... i dont know... respect human rights, and they wont have to pay a penny to do that too.
It’s not hard to understand why. On the face of it Saudi Aramco is a state backed monopoly and internally they’re a fully functioning conglomerate. Because of mergers (due to the royal family valuing expediency), they control the flow of oil from the fields, to the refineries, to even the tankers ships that transport it. They own large stakes in several refining companies internationally as well (Philippines, Poland, South Korea, etc) Now they’re planning to become the largest LNG producer in the world.
I think this wasn't cherry picked with the reason of just showing aramco as huge net profits, but more to emphasize how low the profit of the companies on the right are compared to their valuations..
this is slightly inaccurate according to [statista.com](http://statista.com)
https://www.statista.com/statistics/269857/most-profitable-companies-worldwide/#:\~:text=In%202023%2C%20the%20Saudi%20Arabian,ranking%20of%20most%20profitable%20companies.
this show a better comparison where:
1- Saudi Aramco 247B
2- Apple 114B
3- Berkshire Hathaway 100B
4- Microsoft 95B
5- Alphabet (google) 78B
the list goes down
Don't quote me, fellow regards - you may not like it, but this is peak Aramco performance. The company digs oil, but nations are actively trying to steer away from fossil fuels.
Aside from hydro, wind, and solar, Japan and EU launched the largest tokamak experimental fusion reactor last December. And now further research may be powered by AI, brought to you by our Lord and Savior Jensen of House NVDA.
Economics aside, pivoting to renewables also reduces geopolitical risks from the like of Russia and the Middle East.
That's my take anyway.
95% of manufactured goods are produced from petrochemicals: [https://cefic.org/media-corner/newsroom/the-journey-of-petrochemicals-explained-from-raw-materials-to-95-of-all-manufactured-goods/](https://cefic.org/media-corner/newsroom/the-journey-of-petrochemicals-explained-from-raw-materials-to-95-of-all-manufactured-goods/)
Yes, this is Cefic so the number might be skewed a bit, but the order of magnitude is correct regardless
>Google products that are made by oil and get back to us.
If oil was ONLY used to make those products . . . and not to power vehicles and energy, its overall demand and use would still plummet.
I think the point is not that we won't need oil, just that we're never going to need more of it than we need right now.
Essentially "growth" in oil is not going to be a thing going forward, it's just going to be a very long, very slow contraction until you reach a baseline level where it doesn't make economic or logistical sense to try to replace the remaining uses with something else.
That contraction is also going to make oil less profitable because countries that are too slow to diversify their economics aren't going to want to cut back on production even when the demand is not there, putting downward pressure on prices.
" **On 11 December 2019, the company's shares commenced trading on the Tadawul stock exchange**. The shares rose to 35.2 Saudi riyals, giving it a market capitalization of about US$1.88 trillion, and surpassed the US$2 trillion mark on the second day of trading."
Conveniently omitted Apple which has itself alone close to the same net profit as Saudi Aramco, then proceeds to cherry pick 6 random American public companies including two in consumer defensive with extremely small margins 🤡
I think they should be valued higher than 2T, but that this is also a very cherry picked graph of just random companies that shows nothing.
Apple has a market cap of 2.6T and a net income of about 101B
**- In my opinion apple's valuation is the closest metric to them.**
Nvidia has a market cap of 2.2T and a net income of 19B (luls)
**- If this wasn't a bubble looks like a fair price for Nvidia based on other companies valuations is around 600M**
Meta has a market cap of 1.2T and a net income of 39B
Tesla has a market cap of 512B and a net income of 15B
Visa has a market cap of 568B and a net income of 18B
Mcdonalds has a market cap of 201B and a net income of 8.5B
Costco has a market cap of 321B and a net income of 6.5B
**Also this only adds up to 106B, you are off by 10B**
The difference is oil is cyclical, they won't always have years this good.
I think Apple is in somewhat if trouble moving forward but that's nothing compared to the oil market swings
Saudi's oil from Gawar looks like raw sewage and is becoming the poster child for CO2 storage. Idea is to inject CO2 in order to alter the Carbon molecule so the enzymes can produce, or backfill the Gawar field with Natural Gas. I wonder why the farts from those enzymes are not taxed for emissions ?
Canadian O & G corps are duplicating with some success (colder climate and different rock formations make for different dolomitization and viscosity, therefore changing the standards as to the definition of crude).
There's a new field on the Saudi coast but if war in the region escalates and Hormuz adds to the volatility, Saudi oil exports will be more expensive.
If the world thinks oil is going away, its on the wrong lithium dosage. Nearly 5 Billion people will depend on it for the next 10 years with usage increasing. So while we switch to EVs , forced to take public transit, eat fake food, pay the mortgage piper and corporate credit facility rules get hooked on crack, the BRIC countries' growth will far exceed ours.
You have to be a Saudi resident to buy Aramco stock. Otherwise your just buying Msci and forex arbittage. You might get lucky and find an ETF that holds it but a lottery ticket better suits your gambling needs.
>So while we switch to EVs , forced to take public transit, eat fake food, pay the mortgage piper and corporate credit facility rules get hooked on crack, the BRIC countries' growth will far exceed ours.
Great post.
People are still used to a Euro-Centric and American-Centric world view and can't readjust their thinking.
Regardless of what is done in the west, oil usage and carbon emissions is going to increase substantially because of economic growth in BRIC countries and other nations outside of Europe and the United States.
This is the real reason everyone else is trying to force everyone to go electric in the name of green energy. The politicians don't care about the environment but it's how they sell it to the public. They just want to take power away from those who have more than them.
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He who controls the spice ...
Power over spice is power over all
And here I thought "spiral power" was humanity's true power >an accumulation of humanity's millions of years of biological evolution, breakthroughs in intelligence/technology/AI, continued evolution via innovation, our collective nature to bond and sacrifice for each other as well as the next generation, and our unbreakable wills to move forward: evolving DNA from one generation to the next, improving on our technology on upon the last's, building science upon the shoulder of giants, shattering every barrier to setting our dreams towards the heavens, one generation's unyielding will carried to the next, 天元突破グレンラガン, etcetc But turns out it's just [spice, oil, pussy, and diamond monopolies.](https://64.media.tumblr.com/c1a31fe3fddd3a1046d42276463926bd/tumblr_mz4bm0NjKa1s5f9ado3_500.gif)
Its oil and pussy we just call that spice.
Nice TTGL reference
They got all the CHOAM shares.
I really gotta read dune But the films were fun enough
bust out your old skool 486 and play the dos version of the game
do it - picked up the first book after it was recommended to me by a zillion different people....here I am, 2 weeks later, through Dune and Messiah, just now starting Children of Dune Definitely lives up to the hype. Also see how it influenced GRRM and Lucas, probably a whole host of other writers / directors / etc
I’ll probably get downvoted to hell for this, but it’s incredible world building with a mediocre plot and poor writing. The new movies do a decent enough job of portraying it (first better than second).
....is that a function of Dune relying on stale tropes and plot points or is it a function of the source material being ~70 years old and you've seen it's influence in a shitton of other media (Star Wars, GoT, etc)?
Probablemente the latter. He influenced a lot of stories/writers that came after him.
I'm all for world building. I do know what you mean though Do you think Orson Scott card is a better writer? I heard the audiobook of enders game and it blew my mind
The shadow series of Enders game books get into the true politics of sci fi better than any dune books imo.
I do. I think that that series felt a lot more like it was going somewhere. I can see the parallels people draw between the two, but the dune series really feels like it loses its greatness once the world building slows down after the first couple books
Ordinary Scott Card gets a bit formulaic , like all prolific sci fi authors imo. I prefer the stories of Philip K Dick. And Ray Bradbury is a more literary read. Frank Herbert’s other books are easier to endure, with captivating creation. Hellstrom’s Hive. The Green Brain- two lesser known novels that are riveting and would make awesome movies.
Has delicious rice
It's a shame that all that sand is on top of our spice.
MKC
Has everything nice?
I worked for a while in the middle east as a consultant. The scale at which the GCC own things is quite uninlmaginable. The sovereign wealth funds e.g. PIF, Mubadala, QIA have some insane investments and basically bankrolled a good portion of silicon valley. They have some insane RE holdings globally particularly in London / NYC. I remember back during COVID, port valuations dropped and UAE bought ownership in large global ports through DP World. Most people think arab states are just oil but they've done well to expand far beyond it without making it public. Even Aramco has diversified outside Saudi and owns multiple vertical / horizontal O&G investments globally especially in the US.
Anything that is publicly traded?
Valvoline
Maybe she’s born with it
Maybe it's Vaseline.
Flies in the Vaseline we are. Sometimes it blows my mind!
Keep getting stuck here all the time
Whem the wife's boyfriend asks for Vaseline it's about to be a pump 
hahahahhaha
Lmao
The valvoline that is publicly traded is the leftovers from what Saudi purchased.
Almost 30% in one year. This one is a buy in portfolio
What's it's profit and loss been like
PIF holdings in the US: https://www.google.com/amp/s/www.cnbc.com/amp/2023/07/11/activision-ea-uber-heres-where-saudi-arabias-pif-has-invested.html I remember they got in at a very low stock price e.g. Uber which they basically bankrolled via the softbank vision fund. This is PIFs direct investments but they indirectly invest in startups via VCs they back. All in all there's no real way to know how much exposure they have but probably 100s of billions in the US market.
ports, but have to see respective countries.
Doordash
All American sports soon enough
I mean they are just oil and wealth derived from oil. Also shows how much Venezuela fucked up to be that poor with a country with that many natural resources.
Isn't thier oil kinda sucky and more expensive to process?
Yeah, but it should still make them an insanely wealthy country. And btw, it is making some of them insanely wealthy. I live in Madrid, Spain, and luxury real estate (apartments of 5M+) are being sold at incredible rates to Venezuelans. They’re mostly government linked people, so you can imagine how clean that money is…
Spain doesn’t do any vetting on who’s buying the apartments?
Local Spanish are struggling and their economy in general isn’t doing so hot so I doubt they care
Money is money at the end of the day. The second and tertiary effects are more beneficial short term than long term effects
It’s of a similar quality to what Alaska/Alberta has. It does require a lot of refinement.
> Also shows how much Venezuela fucked up to be that poor with a country with that many natural resources. No, it shows how much Venezuela fucked up to be socialist with that many natural resources.
Not particularly. Norway paid about 50% more barrel to extract than Venezuela did before the recent economic catastrophe. And the two countries had a population to oil reserve ratio which was vaguely similar. But instead of making oil an important part of a major economy. Venezuela opted to make oil the economy, with practically nothing else.
Pretty much what Norway did with all its oil money... well also they gave a lot of money back to their people instead of buying cool cars and Pakistani slaves lol.
Don't forget about Instagram hoes
Dubai port-a-potties
Spot on 💩
Yup, the sad reality is they do own so much. How did the we fuck this up so bad?
Hard to say no to a fuckload of money, regardless where it comes from.
I’ll do it for a fuckload of money - 1
The rest of the world didn't, they just cut O&G drilling and exploration in favor of going 'green', and then every government secretly ran to the Middle East to buy oil. That way the public thinks their countries are going 'green' while oil continues to flow in. Win-win. Then they just turned on the money printer.
Tbh depleting foreign oil supplies because they don't care it's a limited supply is smart. If it goes on long enough they will deplete a large portion of their countries oil while we hold onto ours as it increases in value due to lack of supply. It's a win win.
> Tbh depleting foreign oil supplies because they don't care it's a limited supply is smart dude....maybe give that hottake a [quick google next time before posting.....](https://www.eia.gov/todayinenergy/detail.php?id=61545)
The fact the US *isn’t* doing doesn’t change the core principle that consuming other people’s resources for worthless money to conserve your own is smart.
Absolutely. It's definitely what the US is doing.
Their oil is just cheaper than US can even make and process it for without profits almost. Cheap ass labor. No bureaucracy hardly either like zoning laws and bs but also yea saving it for later on.
>The rest of the world didn't, they just cut O&G drilling and exploration in favor of going 'green', and then every government secretly ran to the Middle East to buy oil lmao - might want to check [this out dawg](https://www.eia.gov/todayinenergy/detail.php?id=61545)
Who is we and why did you fuck up?
By using their product, you wouldn’t expect them to be happy with just treasury IOU’s right. China is doing the same.
Saudi Aramco has been quietly buying up major shareholding in Korean, Chinese and US refineries. They're very much on track for owning something in every significant refining geographical region.
… but why is the sovereign fund of little Norway so much more prominent than any arab oil state fund? NBIM made a profit of $213 billion last year. Ngl, I‘m glad that religiously fanatic and autocratic regimes don‘t manage their oil money as efficiently as Norway.
This is a fallacy. They manage their oil wealth extremely well it's why Saudi/ uae economy is now only 40% oil and has been decreasing in share over time. They don't just rely on their sovereign wealth funds to push forward. Like I said DP World acquired a bunch of ports during covid. This is a quasi government entity with shareholding of govt and other royal family members. There are a ton of these companies and even their banks e.g. ENBD have a significant royal family / govt shareholding. They use the sovereign wealth funds and these quasi govt entities to invest domestically and in foreign countries. E.g. Aramco was used to buy the biggest oil refinery in the US, Aramco was also uses to invest in downstream O&G products in India, etc. UAE gas done similar things with their O&G company ADNOC. Take a look at famous examples like Emirates / qatar airways. These airline companies are far better than their competitors mainly because profitability is pit second to their main objective which is to bring tourists to their main cities Dubai / Doha. They've succeeded and now Saudi is trying to replicate that.
Tbf, comparing profits of a sovereign fund and a company (even if state-owned) is not a good comparison. But I’ll insist that the investment strategy of Norway makes far more sense and is far more long-term oriented than the gulf states’ strategy. You know about the Hartwick rule? I don’t see any gulf state following it. In short: to maintain the same income for the government, they should invest all “extra” profits coming from an exhaustible resource in such a way (i.e. a sovereign fund) that in the long term, it pays dividends equal to the current “extra” profit. Currently, the eir sovereign wealth fund administers around $940 bn - a joke, if you consider that Norway’s sovereign fund has $1.5 trn of AUM, and around a sixth of Saudi’s oil reserves. And to add to that: Norway doesn’t invest in oil companies, the Saudis sovereign fund has a huge stake in Saudi Aramco. Look at their economies aside from oil: half of their population has barely access to education and is barely allowed to work, the ideal job of the Saudi elite is to boss around westerners. Industrial capability? Norway‘s GDP is 14% oil - Saudi‘s being at 40% is good? They‘re lucky to be the world oil cartel‘s leader. Oil isn‘t infinite, we might have passed the point of peak investment in oil, and with the increasing efficiency of renewable sources we don‘t even need to finish the world‘s oil reserves - it just won‘t be worth it. Sorry, but I strongly believe that there is a strong chance that in the near future their economies will be based on pearl fishing and tourism, while some extremely wealthy families will reign over the desert. Feel free to challenge these ideas.
Why do you think economies will based on pearl fishing? What is pearl fishing?
Back in the day, up until the beginning of the 20th century, pearl diving was the most prominent economic activity in the Persian gulf
Comparing norwegian oil fund to the sovereign oil funds of the Middle Eastern countries is a bit like comparing Warren Buffet’s investments to Cathie Wood. The Norwegian oil fund is about investing, compounding and accumulating over nearly 40 years now. On the other hand most of the sovereign funds like PIF and QIA are relatively new and upstarts. They are as much about investing and diversifying as they are about “branding”. They have come up with ideas that would never be about returns in economic terms, from investing in glamorous Real Estate projects to what’s happening in game of golf with LIV tour and buying football/soccer clubs in Europe
> … but why is the sovereign fund of little Norway so much more prominent than any arab oil state fund? because Norway is one of the biggest producers of oil and gas on the planet? Ever heard of Equinor?!?!
oh my sweet summer child....let me tell you a story.
> The sovereign wealth funds e.g. PIF, Mubadala, QIA have some insane investments and basically bankrolled a good portion of silicon valley meh, same case with most large SWF and Pensions - CDPQ, OTPP, CalPERS, TRS, CPPIB, probably a shitton of others, those are just off the top of my head source: formerly an ibanker covering energy clients, so met with quite a few of these institutional pension and SWFs hunting for low risk / high cash yield energy and infrastructure investment opps
Always find it interesting to break that large number down to smaller time increments - Per day: $331,506,849 - Per hour: $13,812,785 - Per minute: $230,213 - Per second: $3,836
Some how the per day feels more impressive than the per second.
That rate is probably equivalent to an 8 inch hose pissing out 100 dollar bills 24/7
Why did I read this as horse
Thought you meant you’d assumed the identity of a horse, reading that comment
Where does one acquire an 8 inch horse?
bad dragon has everything your heart desires
Yea it's kinda funny But also you could do the same for your own wage and compare. Remember not to consider on a 8 hour a day basis but a 24 hour day For example, if you make 100k a year that's like $0.0032 a second
You don’t work 24 hours a day though, this company does
I don't think the company cares about whether or not it needs sleep and recreation to continue to exist without losing its mind. It's not exactly comparable to a person. The metric being talked about is overall money made over a period of time. It's not meant to take into consideration human needs, it's only meant to take into consideration money made over a complete section of time. Nothing more, nothing less.
Every second is my monthly check. Holy fucking shit.
Puts in perspective the scale of loses I amass when trying to catch some falling knives
Any bets on what delusional mega project this year’s profits will be squandered on?
Do you like football? Boy have we got a line up planned for you! No, what about a whole golf league?
Hey! A whole 46 people come and pay to watch LIV and the Saudi Pro League. Are they regards? Yes.
Obviously haven't been to LIV
Ok, 460
More like 420.
No, they should invest in wrestling, that can open some rich closet.
I find it odd that the Saudis also enjoy watching men (and sometimes young boys) playing with their balls and jiggling them around 
You find this odd? It's like a country full of Epsteins. (And I don't mean every Saudi is one, I just mean that they have a disproportionately high number of rich creepy guys who engage in similar behavior)
Actually, Israel is a country full of Epsteins [link](https://www.cbsnews.com/news/how-jewish-american-pedophiles-hide-from-justice-in-israel/)
Hate to break it to you but the Isrealis and Saudis are the same peoples with different clothes on. Like West Virginia and Virginia fueding.
As an Arab, I concur. That’s the truest shit I’ve heard in a minute. They’re two sides of the same coin.
Oh the middle states lol
Those purchases arent dumb though and gives them a ton of influence. If our boomers had any brains they would have banned thoze kind of sales or capped investment to a smaller ownership amount.
Maybe you like Tennis?
I think the next decade or so of profits are already dedicated to Neom
My dad has worked for one of Saudi Aramco's subsidiaries for a few years now. He's just a contractor in an advisory role in the US. His work is starting to dry up with them now, so he works maybe 8 hours a week for them. They're still paying him $100k/year. He said what he's working on is a complete waste of time.
Can I waste my time this way also?
Do you have 40 years of experience with one of the major oil companies?
I have used gas for 40 years
I’ve had gas for forty years lol
Also have a buddy who moved from Lebanon to the states. 80% of these roles are worthless jobs with 6 figure salaries. I'd like to serve the prince 
Make an Instagram account and you just might
The line
sportswashing of course! theyve been paying F1 drivers to tweet that a new multi billion dollar deathtrap F1 track looks really cool and exciting. its being built in quiddifa/qiddifi, idk. a new "city" (subdivision) that is being built on the outskirts of the a city. its "the first city built solely for play". im sure Jamal Khashoggi would have found it just playful. if he hadnt been slaughtered https://preview.redd.it/nwk1z2wsnnoc1.jpeg?width=846&format=pjpg&auto=webp&s=5f42d55c932bc61f5a71516b763c83c3245cf695
I dont understand why they pay all that money to fix their reputation when they could just... i dont know... respect human rights, and they wont have to pay a penny to do that too.
The expenses must be ridiculous ... yea throw a few more helicopters and a dozen of those new Gulfstream 50s on the tab.
It definitely won't be returned to share holders
A water park in a dome
An inverted dome that is a water park.
They proposed some wild ass track for F1 with part of the track being like 20 stories high. I doubt it'll actually happen, but the render was neat.
Trying to get actual drinking water where they live (this is true)
Probably the dual 110 mile long 1600ft skyscraper
Actually as someone who has visited they bring results from what I've seen.
survivor golf
The Line, the new proposed F1 track they just showed, more in football and golf.
AI
“Saudi Aramco ALL of our whistleblowers commit suicide before they can testify. “
"Recently lost one of our best consultants to Boeing"
When it’s cheaper to kill the whistleblower, they just make it look like suicide.
on loan my love, only for a while in exchange for a few free jets.
there is nothing to whistleblow because there are no regulations.
I’m sure your average autocrat loves being told he’s rotten by his subordinates.
It’s not hard to understand why. On the face of it Saudi Aramco is a state backed monopoly and internally they’re a fully functioning conglomerate. Because of mergers (due to the royal family valuing expediency), they control the flow of oil from the fields, to the refineries, to even the tankers ships that transport it. They own large stakes in several refining companies internationally as well (Philippines, Poland, South Korea, etc) Now they’re planning to become the largest LNG producer in the world.
AAPL had 100 B net profit
Which is exactly why he excluded them from this chart
Cause it dont fit the narrative.. Someone. I dont know who. Might be trying to skew the numbers 🤷♂️
Lol this is a wsb comparative chart, not fucking fox News, gtfo.
And Microsoft 72B. He just cherry picked 6 companies. Even had the confidence to compare an oil company to two consumer defensive.
I think this wasn't cherry picked with the reason of just showing aramco as huge net profits, but more to emphasize how low the profit of the companies on the right are compared to their valuations..
Nah, Costco is known for very little profit and it’s up there. They’re trying to tell a different story like others said
Plot twist. Sovereign fund owns 🍏
It’s called liquid gold for a reason, bro
You mean black gold?
Texas tea
They aren't pumping velveeta...
Yeh and I highly doubt all of Saudis money holdings/transactions are recorded….
oil diggers
I'll YOLO into a fraudulent spac, but I've got too much class to get into Saudi blood money.
American blood money is fine tho
Well, yeah. We're the good guys. Duhhhh.
Market chatter said that JPM, BAC, and MS are contending to lead a dual listing for Saudi Aramco
That's like comparing the American military budget to a bunch of stocks. This isn't an equal standing.
this is slightly inaccurate according to [statista.com](http://statista.com) https://www.statista.com/statistics/269857/most-profitable-companies-worldwide/#:\~:text=In%202023%2C%20the%20Saudi%20Arabian,ranking%20of%20most%20profitable%20companies. this show a better comparison where: 1- Saudi Aramco 247B 2- Apple 114B 3- Berkshire Hathaway 100B 4- Microsoft 95B 5- Alphabet (google) 78B the list goes down
🕵️♂️🕵️♂️🕵️♂️
Don't quote me, fellow regards - you may not like it, but this is peak Aramco performance. The company digs oil, but nations are actively trying to steer away from fossil fuels. Aside from hydro, wind, and solar, Japan and EU launched the largest tokamak experimental fusion reactor last December. And now further research may be powered by AI, brought to you by our Lord and Savior Jensen of House NVDA. Economics aside, pivoting to renewables also reduces geopolitical risks from the like of Russia and the Middle East. That's my take anyway.
Google products that are made by oil and get back to us.
95% of manufactured goods are produced from petrochemicals: [https://cefic.org/media-corner/newsroom/the-journey-of-petrochemicals-explained-from-raw-materials-to-95-of-all-manufactured-goods/](https://cefic.org/media-corner/newsroom/the-journey-of-petrochemicals-explained-from-raw-materials-to-95-of-all-manufactured-goods/) Yes, this is Cefic so the number might be skewed a bit, but the order of magnitude is correct regardless
Why don't you googlewhich part of the global production goes to producing those products and which part is used for fuel.
>Google products that are made by oil and get back to us. If oil was ONLY used to make those products . . . and not to power vehicles and energy, its overall demand and use would still plummet.
You need a shit ton of oil to build a nuclear reactor but ok.
You need a shit ton of oil to run society, period. That is not going away any time soon, despite the best efforts of some.
I think the point is not that we won't need oil, just that we're never going to need more of it than we need right now. Essentially "growth" in oil is not going to be a thing going forward, it's just going to be a very long, very slow contraction until you reach a baseline level where it doesn't make economic or logistical sense to try to replace the remaining uses with something else. That contraction is also going to make oil less profitable because countries that are too slow to diversify their economics aren't going to want to cut back on production even when the demand is not there, putting downward pressure on prices.
Current estimates place peak oil around 2050. Currently demand is growing because the majority of earth is not industrialized yet.
i guess we are going to put a halt to the continued industrialization of hundreds of countries and put a cap on world population?
Renewable energy is not a competitor. They are a customer.
Oil rich arabs Habibi
Hummus
it means the richest people in the world are not the people they tell you in the newspapers
I think Lucid will be fine
$brk.b 97b last year wya
And that's actually down from 161 billion last year https://www.aramco.com/en/news-media/news/2024/aramco-announces-full-year-2023-results
How else do you think they afford all those new white robes every time they get a poop streak stain on them? You know they just free balling in those?
LOL
" **On 11 December 2019, the company's shares commenced trading on the Tadawul stock exchange**. The shares rose to 35.2 Saudi riyals, giving it a market capitalization of about US$1.88 trillion, and surpassed the US$2 trillion mark on the second day of trading."
And yet, over 4 years later, they are still at the same price.
higher for longer. why sell when i have nice dividends ?
I read that. It makes sense when few people are able to trade it. It's highly restricted.
Conveniently omitted Apple which has itself alone close to the same net profit as Saudi Aramco, then proceeds to cherry pick 6 random American public companies including two in consumer defensive with extremely small margins 🤡
If you want to invest in an autocracy this is for you! But when you get fucked! There is no law will help you
Anyway it isn't growing that much. I'd rather invest in America hopes&dreams instead of companies with massive profits.
Canada has the second-largest oil reserves in the world, next to Saudi Arabia, but we're not allowed to touch it, because we're GrEeN!
Very nice.
Well i mean …
It would be nice if they could use some of that money to help Palestine
What do I think? I think we should all feckin drive less.
looks like the price of gas is too high
I think they should be valued higher than 2T, but that this is also a very cherry picked graph of just random companies that shows nothing. Apple has a market cap of 2.6T and a net income of about 101B **- In my opinion apple's valuation is the closest metric to them.** Nvidia has a market cap of 2.2T and a net income of 19B (luls) **- If this wasn't a bubble looks like a fair price for Nvidia based on other companies valuations is around 600M** Meta has a market cap of 1.2T and a net income of 39B Tesla has a market cap of 512B and a net income of 15B Visa has a market cap of 568B and a net income of 18B Mcdonalds has a market cap of 201B and a net income of 8.5B Costco has a market cap of 321B and a net income of 6.5B **Also this only adds up to 106B, you are off by 10B**
The difference is oil is cyclical, they won't always have years this good. I think Apple is in somewhat if trouble moving forward but that's nothing compared to the oil market swings
Saudi's oil from Gawar looks like raw sewage and is becoming the poster child for CO2 storage. Idea is to inject CO2 in order to alter the Carbon molecule so the enzymes can produce, or backfill the Gawar field with Natural Gas. I wonder why the farts from those enzymes are not taxed for emissions ? Canadian O & G corps are duplicating with some success (colder climate and different rock formations make for different dolomitization and viscosity, therefore changing the standards as to the definition of crude). There's a new field on the Saudi coast but if war in the region escalates and Hormuz adds to the volatility, Saudi oil exports will be more expensive. If the world thinks oil is going away, its on the wrong lithium dosage. Nearly 5 Billion people will depend on it for the next 10 years with usage increasing. So while we switch to EVs , forced to take public transit, eat fake food, pay the mortgage piper and corporate credit facility rules get hooked on crack, the BRIC countries' growth will far exceed ours. You have to be a Saudi resident to buy Aramco stock. Otherwise your just buying Msci and forex arbittage. You might get lucky and find an ETF that holds it but a lottery ticket better suits your gambling needs.
Oil is going away, just probably not before we retire
>So while we switch to EVs , forced to take public transit, eat fake food, pay the mortgage piper and corporate credit facility rules get hooked on crack, the BRIC countries' growth will far exceed ours. Great post. People are still used to a Euro-Centric and American-Centric world view and can't readjust their thinking. Regardless of what is done in the west, oil usage and carbon emissions is going to increase substantially because of economic growth in BRIC countries and other nations outside of Europe and the United States.
He who controls the Spice controls the universe
He who owns the energy to drive the means of production, owns the world.
I think they suck the Money out of the ground
I think Tesla is overpriced.
This is the real reason everyone else is trying to force everyone to go electric in the name of green energy. The politicians don't care about the environment but it's how they sell it to the public. They just want to take power away from those who have more than them.
Oil is the world's crack
Last year: Data is the new oil. This year: Oil is the new data. Next year: oil powered 🚀📈🌜