Tuesday, August 28, 2018

Hookers and blow

"Exclusive: Saudi king tipped the scale against Aramco IPO plans".  "Saudi King Shelved Aramco IPO To Teach Son, Prince Bin Salman A Lesson" -  a 'teaching moment', no less!

So now, just as with President Jared's Palestine deal, the senile king is being used as the face-saving excuse for MbS to back out of an impossible plan.  In this case, the plan is impossible as the IPO would have required the Saudi princelings to reveal what little Saudi oil wealth was actually left after they spent it all on hookers and blow.  It is difficult to see where all MbS's huge plans go without the dough to fund them, and without the big plans, plans sold as the only way to save the princelings' necks once the wells run dry and/or people stop using hydrocarbons, why would other princelings continue to support him?
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