What will happen if oil deposits runs out in saudi?

Question

we all knew that oil is the main source of wealth in saudi, in the future it will eventually runs out, how would saudis prepare for this? is there any other source of income other than oil in saudi?

Answer 1

global recession will hit the world

great economic depression will hit USA

agricultural countries will start to evolve again

alternative source of energy cant keep on with the demand

so their prices will go high

saudi arabia will be free of political pressure

it will have bad economy, just like the rest of world

and it will continue to play its role as islamic center

Answer 2

Hajj income.......one thing ........another might be ..Due to the geographical feature they might  transfer Saudi east coast  into Las Vegas ...another  financial ground for the whole world...or A solar technology station ..or just a place for all the people to see Dunes and enjoy the sun in winter ..Bright future

Answer 3

The saudi's sit on well over 200 billion barrels of oil, and the rate of 11.5 million barrels per day it would take many lifetimes or more to come close at running out, besides iraq and iran are # 2 & 3 in regards to oil resources and there are billions upon billions of unfound oil yet to be explored,I WOULD HOPE that with all of this time, that there will be other methods of energy in place by then, in regards to oil and the saudi's they have lots of natural gas as well, and if they are smart they will take a lesson from DUBAI who's rich oil deposits are on the verge of running out within 10-20 yrs (they predict) about 9 yrs ago they decided to use their oil reserves to turn the country into a tourist attraction by creating the 'palm island' which is virtually a island made right off the coast, this will bring millions of people to the country long after all the oil has dried up,

Answer 4

They will start using Gold reserves.

http://www.ameinfo.com/61566.html

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Answer 5

well if that happens, we are not here in this world anymore to care about it.....lolz.....it will be controlled by younger generations and future generations and the outcome of that would be the responsibility of them.....

....aside from that, if that happens, there would be chaos and war for survival because almost all countries need oil for everyday life....if Saudi run out of oil, all countries would be affected too not just Saudi per se.....

Answer 6

Its not going to happen anytime soon, and they'll have made enough money to last them 100 years.

Answer 7

Of course the Hajj and Umrah will still bring in income, but it isn't that much.  Saudis still pay a lot of their money as well to maintain the Hajj and to make it safe and orderly with millions of people.  

The problem with oil is that it will run out, and Saudis have not invested well in their country.  Saudi is not like UAE, Bahrain or even Qatar in terms of its investment in education and infrastructure.  Saudis have wasted much of their oil wealth without investing wisely.

Answer 8

they`ll find the money from some new source like gas etc and when it does go we`ll have to find a new source if there is one

Answer 9

well, to begin with, level of obese people in that country will decline significantly.

Answer 10

well.. no more money.

Answer 11

i hope we are using different energy sources well before that time

Answer 12

First, Saudi Arabian economy and people will suffer, because the cost of importing oil will be much more than what people/businesses are paying for oil now.

Saudi Arabia will NOT be as rich as people may think,

because oil profits go mostly to the royal family, and when oil runs out, I don't think the royalty will be willing to share.

America will start exporting oil from American wells that are still intact, America does have oiul reserves of its own and  is keeping it for days like this, when there is no more oil out there.

America will control a huge share of the oil market.

The case you are talking about will happen soon enough in Kuwait, experts say Kuwait will run out of oil in year 2064, so lets wait and see.

Answer 13

u forgot that oil isnt the only source of wealth at saudi as saudi also have BILLIONS from el HAJJ income and el Hajj income isnt small income.......and lets hope it wont run out.........and thats a sign that GOD loves KSA so if oil ran out there will be another source of income