Saudi Arabia Confronts Its Oil Dependence

A former senior U.S. diplomat to Saudi Arabia explores the kingdom’s effort to end its dependence on oil revenue, and the relationship between Saudi Arabia and global efforts to decarbonize.
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Saudi Arabia is the world’s leading exporter of oil. Yet it is also a country that is in the midst of an ambitious drive to end its dependence on oil revenue as the foundation of its national economy. Saudi Arabia’s effort to economically diversify follows a decade of oil market volatility that has added to a host of economic and political challenges faced by the ruling Al Saud family. Looking ahead, the global effort to move away from fossil fuels, and address climate change, could make Saudi Arabia’s overreliance on oil ever more risky.

David Rundell, former Chief of Mission at the American Embassy in Saudi Arabia and author Vision and Mirage, Saudi Arabia at the Crossroads, explores the kingdom’s efforts to diversify away from oil. Rundell also discusses Saudi Arabia’s perspective on the global effort to decarbonize, and America’s tense relationship with its longtime energy ally.

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Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu

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