Petro Yuan

Today is the launching date of Oil futures trading in Chinese Yuan convertible to Gold. The US Petro Dollar is no longer King.

Is Saudi Arabia Going Bankrupt?

Just finished watching a YouTube video of TestTube News titled ' Is Saudi Arabia Going Bankrupt ' ? It says 80% of Saudi Arabia's economy relies on oil revenue. At the current price of less than $50 a barrel, economists have predicted that Saudi Arabia could run out of cash in 5 years. Would that come true? I don't know, but it is not impossible.

I said it in the past, and now again, that if not for its oil, Saudi Arabia would be reduced to a backward and poor country. Burning fossil fuel for energy is ' primitive ', not advanced. The whole world should reduce the use of fossil fuel and switch to renewable and clean energy. It is not only good for the environment, but also good for human health and the world economy in the long run.

Yes, eventually, the world economy will rely more and more on renewable and clean energy, although it is not that obvious to people whose mind just got stuck in the past. One day, oil as the main source of energy will become something of the past.

I don't want to see Saudi Arabia or any country become poor and bankrupt. I only wish that all countries, including Saud Arabia, would live in peace.
  

Climate Change

It is rather stupid to argue about climate change. Climate always changes, from Spring, Summer, Fall to Winter, then back to Spring. The climate that you like or dislike depends on the time and location of the place in question. Whether you believe in global warming or deep freeze, climate will continue to change. The focus should be rather about pollution and irresponsible human activities in abusing nature and misusing its natural resources, which is a fact. Of course the big oil companies and oil producing countries will continue to promote the production and use of oil. It is their interest to make big money and huge profits. But it will change. It is already happening, I mean the production and use of green and renewable energy in lieu of burning fossil fuels. Did you hear my joke before ? It is this: due to the cold weather, the gathering to protest against global warming has been cancelled :)