Editor’s Note: Kathleen Sullivan is an analyst at Ergo, a global intelligence and advisory firm. The article below is based on a report Ergo recently published, entitled The Waning Era of Saudi Oil Dominance. Follow Ergo on Twitter.
By Kathleen Sullivan - Special to CNN
Saudi Arabia has thus far managed to stave off the popular protests that have led to the ouster of four Arab heads of state, chiefly due to its strategic and well-timed disbursements of oil-revenue-funded social giveaways. While so far effective in preserving the status quo, this approach has tied the fate of the monarchy to that of its oil revenues - an increasingly risky linkage.
For decades, Saudi Arabia’s booming oil revenues have been a safe bet in a constantly shifting region. Proud and longtime holder of the world’s largest proven reserves, highest exports, and most spare capacity, Saudi Arabia maintained an unrivaled position of dominance in global oil markets. However, a deeper look at Saudi Arabia’s growing domestic pressures and its external challenges reveal signs of decay in the Kingdom’s global oil market dominance, and with it, weakening defenses against a popular uprising. FULL POST
The Global Public Square is where you can make sense of the world every day with insights and explanations from CNN's Fareed Zakaria, leading journalists at CNN, and other international thinkers. Join GPS editor Jason Miks and get informed about global issues, exposed to unique stories, and engaged with diverse and original perspectives.
Every week we bring you in-depth interviews with world leaders, newsmakers and analysts who break down the world's toughest problems.
CNN U.S.: Sundays 10 a.m. & 1 p.m ET | CNN International: Find local times
Buy the GPS mug | Books| Transcripts | Audio
Connect on Facebook | Twitter | GPS@cnn.com
Buy past episodes on iTunes! | Download the audio podcast
Check out all of Fareed's Washington Post columns here:
Obama as a foreign policy president?
Why Snowden should stand trial in U.S.
Hillary Clinton's truly hard choice
China's trapped transition
Obama should rethink Syria strategy
Enter your email address to follow this blog and receive notifications of new posts by email.
RSS - Posts
Get every new post delivered to your Inbox.
Join 4,858 other followers