Monday, October 31, 2005
WTO Impact on Saudi Oil Industry
I’m not certain it will happen over night. If Saudi Arabia is like all the other members of the WTO, it will bend the rules of the organization to the point of violation in the defense of its most cherished and essential industries. However, it should be interesting to find out what impact market forces and WTO membership will have on the opaque nature of the Saudi oil industry. Perhaps once those numbers are released the question about the future of oil supplies will be answered with greater authority and accountability than the official announcements of the monarchy.