Current:Home > StocksWhy Saudi Arabia is building a new city in the desert-LoTradeCoin
Why Saudi Arabia is building a new city in the desert
View Date:2024-12-24 00:45:07
For decades, Saudi Arabia's economy has been defined by its abundant oil reserves. Its ability to influence global oil supply propelled Saudi Arabia to one of the richest countries in the world. The Saudi royal family became important players on the world stage. However, waning dominance in the oil market is forcing the Saudi government to think differently about its reliance on the commodity.
Today on the show, we explain Saudi Arabia's fantastical vision for its future and how the government is using its present influence in the oil market to fund it.
Related episodes:
Why oil in Guyana could be a curse
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
veryGood! (64)
Related
- Northern Taurid meteor shower hits peak activity this week: When and where to watch
- Jackie Robinson Day 2024: Cardinals' young Black players are continuing a St. Louis legacy
- Colts sign three-time Pro Bowl DT DeForest Buckner to hefty contract extension
- How Apple Music prepares for releases like Taylor Swift's 'The Tortured Poets Department'
- Judith Jamison, a dancer both eloquent and elegant, led Ailey troupe to success over two decades
- Tax Day deals 2024: Score discounts, freebies at Krispy Kreme, Hooters, Potbelly, more
- World’s oldest conjoined twins, Lori and George Schappell, die at age 62 in Pennsylvania
- Tax Day deals 2024: Score discounts, freebies at Krispy Kreme, Hooters, Potbelly, more
- Man killed in Tuskegee University shooting in Alabama is identified. 16 others were hurt
- These states have the highest property taxes. Where does yours fit in? See map.
Ranking
- What Happened to Kevin Costner’s Yellowstone Character? John Dutton’s Fate Revealed
- Taylor Swift’s Coachella Look Reveals Sweet Nod to Travis Kelce
- After finishing last at Masters, Tiger Woods looks ahead to three remaining majors
- Suspect in custody after shots fired from Marina del Rey rooftop prompt alert in Los Angeles area
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Something Corporate
- Mega Millions winning numbers for April 12, with $125 million jackpot at stake
- Taylor Swift and Teresa Giudice Unite at Coachella for an Epic Photo Right Out of Your Wildest Dreams
- 1 killed, several injured when big rig plows into Texas Department of Public Safety office in apparent intentional act, officials say
Recommendation
-
'We suffered great damage': Fierce California wildfire burns homes, businesses
-
Ford, Daimler Truck, Chrysler, Jeep among 131k vehicles recalled: Check car recalls here
-
Reba McEntire Reveals If She'd Get Married for a 3rd Time
-
The IRS is quicker to answer the phone on this Tax Day
-
A $1 billion proposal is the latest plan to refurbish and save the iconic Houston Astrodome
-
13-year-old girl shot to death in small Iowa town; 12-year-old boy taken into custody
-
Taylor Swift says Ryan Gosling, Emily Blunt's 'All Too Well' cover on 'SNL' was 'everything'
-
Bald eagle eats 2 of its hatchlings in West Virginia out of 'confusion', officials say