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tayroarsmash t1_j9t0syh wrote

Reply to comment by bimbles_ap in 'LIV has to get stronger - or it will disappear' by rejs7

It’s also a diversification strategy as oil seems to be on a clock.

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rumpel_foreskin17 t1_j9uf2ze wrote

Those fuckers have enough money to live 100,000 lifetimes over, they’ll be fine.

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tayroarsmash t1_j9ul0lf wrote

Oh trust me I’m in no way worried about the oligarchy of Saudi Arabia I just watched a thing where the guy representing them in the video gave diversification to future proof their wealth was a big reason for these new ventures.

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rumpel_foreskin17 t1_j9v1omr wrote

For sure. They may have hit the geographical jackpot but they’re not stupid. Diversification of wealth is smart whether it’s your $500 rainy day fund or your $100,000,000,000 oil monopoly.

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TallDuckandHandsome t1_ja0j3pl wrote

You can add at least another zero to that, which may not seem like a big difference, but also, it's an extra 900 billion

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cobaltnick37 t1_j9uuzbi wrote

They will. But greed never ends, especially for the richest

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jarpio t1_j9uwpg3 wrote

Yeah the rich humans do. But KSA is still a country with people and an economy. You still need to be able to generate wealth in your country. National economies don’t get to just retire (though the Japanese may disagree) Otherwise you become a failed state. And when you’re a monarch in a failed state, your life expectancy generally goes down.

So no those fuckers won’t be fine if they can’t diversify away from a fossil fuel based economy at least a little bit. The individual fuckers with the yachts will be fine but the country will not be. And the yacht fuckers don’t get to live forever. Eventually they die and their kids die and the money goes away.

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