60 Minutes looks at Saudi Arabia’s oil mega-industry (Part 1)
Articles — By forcechange on December 8, 2008 12:00 am60 Minutes had a fascinating look at the Saudi Arabian oil mega-industry Sunday night. This clip is the first half of the program and here is the second.
One of the more interesting facts disclosed was that it costs Saudi Arabia less than $2 to manufacture a barrel of oil. However, the country relies on oil being priced at $55 to finance 75% of the domestic spending budget. Anything above that is apparently a windfall.
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