The Economic Activities Of Saudi Arabia

In the Middle East, Saudi Arabia is the largest arid country (Al-Ibrahim, 1991). The country covers some 80 percent of the Arabian Peninsula (Al-Hamzi, 1992). The area of Saudi Arabia is 2.25 million square kilometers, equivalent (1.4) million square miles (Batayneh, 2012). The total number population in Saudi Arabia is 25.7 million (Al-Shayaa et al., 2012). Saudi Arabia climate is broiling in the summer and chilly in the winter, and Saudi Arabia does not have well-defined season. In addition, Saudi Arabia is waterless country, and it does not have rivers or lakes (Al-Shayaa et al., 2012).

Currently Saudi Arabia is one of the leading producers of oil in the world. However, it is losing its foothold on the market. Many countries, like North America, are increasing their oil production and are looking for ways to become less dependent on foreign oil. The increased competition has caused oil prices to decrease. By producing their own oil, countries not only will increase their revenues, but will also reduce their need to rely on foreign oil. By reducing their need foreign an oil a country does not have to worry that their oil supply will be cut off if they go to war.

Oil is the product that each and every one of us use. It can be used for fuel, heating and even cooking. The most often known for unstable price is crude oil or gasoline. According to the The Economist, The main reason for price shifts of oil is oversupply. The oil production in Saudi rose 10.3 million barrels per day. This increase is the effect of a new method that I being applied to oil extraction. This method is called fracking, fracking is where they drill into tight-rock formations then gradually turning horizontal for several thousand feet more. This results to accommodations to multiple oil wells. This new approved method of oil harvesting has raised the productivity gains and reduced the cost of harvesting oil.

Oil has often been referred to as any economy’s lifeblood. Although this is an overemphasis, oil has been the key, nonhuman resource of the economy throughout the largest part of the 20th century. In the book “The Prize: The Epic Quest for Oil, Money, And Power” by Daniel Yergin, the author illustrates the political, societal, economic, and geo-strategic importance of this product.

The U.S. should invest in alternatives to oil, and drill on the United States grounds because it will assist the economy, preserve energy and fix the world’s environmental problems. The supply and demand for oil is always on the rise, and problems are contemplated with the use for oil. Those problems are starting to catch up to the modern world, and something needs to change before the world enters a black out. Experts can predict that there is estimated to be somewhere around 61 years of oil left for us to use at our current rate. The demand for oil is always rising. People in today’s modern society rely so heavily on oil, that they would not know what to expect if it

It can produce 10 million barrels on average each day. Thus, it is a good idea to choose Russia (Workman, 2016). In this 3 months, we also can improve our technology to increase yield of crude oil. This is very helpful after we get back our oil platform. Because we must increase yield of crude oil to make up for the loss. In addition, we spent 5 million dollars to Mexican drug cartel mercenaries. We also should gain these 5 million dollars with high yield of crude oil. Thus, this 3 months, we not only should find a good manufacture of crude oil, but also should improve our technology so that we can make profits after we get back our oil

Two-thirds of the world’s remaining oil reserves are in the Middle East which will make international policy imperative in the future (Campbell 2007). It is

Middle East is strategically important region where mostly world half of oil reserves are located. Three countries: Saudi Arabia, Iran and United Arab Emirates accounted for 57% of total Middle East liquids fuels production. (Liquid fuels production in Middle Eastern and North African countries n.d.) Although due to increased domestic production of petroleum and natural gas, the United States is reducing its dependence on foreign oil with imported liquid fuels, but still oil means a lot to the US as oil prices is determined internationally by what is available for all global consumers. Therefore, to safeguard the security of Oil supply in the Middle East and ensure stable access to affordable oil is in the vital interest of the America. (Mexican crude oil shipments to Europe and Asia are rising as U.S. imports fall

Our nation now imports nearly half the oil it consumes and could face a major threat to its economic independence. The sovereign independence of Saudi Arabia is of vital interest to the United States.

ing that a few decades onwards, there is the possibility of oil becoming a secondary energy source,

Thus most industrial nations wanted to change their dependency upon oil, which sparked many efforts in oil conservation, restrictions, and research into alternative energy resources. This issue has caused many problems in international relations there and even today it is the root of political skirmishes. Many countries believed that the oil companies should be broken up so that there would not be any monopoly in this giant industry. This time of exploration was iconic because of the pressure in the oil industry. Also, there was a prediction during this time that made a close connection between economic health and the control of oil resources.

Saudi Arabia has an economy that is largely dependent on oil, with the government maintaining the biggest control over the country 's significant economic activities. Saudi Arabia owns about 16% of the global oil reserves and is the number one exporter of oil (Saudi Arabia, 2013). In addition, the Kingdom of Saudi Arabia was instrumental in the formation of the OPEC (Organization of the Petroleum Exporting Countries) group, which initially comprised Iraq, Venezuela, Iran, Kuwait and Venezuela (Energy indicators, 2004). Currently, the petroleum industry constitutes about 80% of the country 's budgetary incomes; about 40% of the country 's GDP and 87% of Saudi 's export earnings. Agriculture, in addition to petroleum products, has been a major contributor to the kingdom’s economy since 1970s (Saudi Arabia, 2013). The country has been able to produce enough agricultural products for their consumption as well as surplus for exportation to the GCC member countries.

This study addresses the domain of tourism and hospitality practices as well as its positive and negative effects on the economy, culture and traditions, and the environment globally and in Saudi Arabia. It also focuses on the need for more improvement and diversity on the tourism patterns. In addition, the study hopes to provide an understanding of residents’ attitudes towards tourism impacts on the culture, economy and the environment in Saudi Arabia.

     In the heart of the Middle East is a country known by many Westerners for its oil production and, often, extremist beliefs of groups within the country. The country is Saudi Arabia, and though it is thought of by many as a rather backward country, Saudi Arabia has a rich history and culture, and it is a country that revolves around Islam and the worship of Allah as the one true God.

Saudi Arabia has an oil-based economy. Shipments of oil account for 87 percent of total exports and for 46 percent of GDP. In recent years, in order to diversify the economy, the government has been investing in telecommunications, petrochemicals, natural gas exploitation and power generation sectors.