ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Because they specialize in the sale of weapons and technology so they would not be able to sell these items to terrorist groups
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They are the world’s biggest exporter of oil and they would no longer be able to specialize in oil production
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They export large quantities of cotton so they would have to forgo the sale of textiles on the world market
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It actually would be beneficial because they have large deposits of fresh water
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Detailed explanation-1: -The water supply in Saudi Arabia, and specifically the lack of water has always been the major constraint on agriculture and the determining factor on where cultivation occurred. The kingdom has no lakes or rivers. Rainfall is slight and irregular over most of the country.
Detailed explanation-2: -Saudi Arabia fueled nearly all of its electricity generation with natural gas (61%) and crude oil (39%) in 2020, although the Saudi government plans to diversify fuels consumed for electricity output to increase available crude oil for export and to reduce its carbon emissions (Figure 8).
Detailed explanation-3: -A February report by energy transition think tank Carbon Tracker found that long before oil production falls to zero, Saudi Arabia would suffer a 44% shortfall in government revenues just from the decline in consumption over the coming decades.
Detailed explanation-4: -Oil is the main pillar of Saudi Arabia’s economy and the cornerstone of its development. According to the IMF’s latest data(1), oil receipts accounted for around 85% of exports and almost 90% of fiscal revenue, while the oil sector comprises over 40% of overall GDP.