27 Apr '16, 12pm

Even Saudi Arabia vows to end its 'addiction to oil'

Stephen Edelstein 193 views Apr 27, 2016 Bentley Continental GT races a train across Saudi Arabia Enlarge Photo Oil-rich Saudi Arabia is now starting to contemplate a future in which gasoline and diesel now longer power the majority of the world's cars. Over the next decade and a half, it hopes to transition its economy away from oil, largely by investing today's oil revenues in other industries. It's part of a plan known as "Vision 2030" that Saudi Arabia claims will end its "addiction to oil." DON'T MISS: Saudi Arabia will have $2 trillion to figure out an economy after oil Deputy Crown Prince Mohammed bin Salman, the plan's chief architect, believes the Saudi economy will survive "without any dependence on oil" as soon as 2020 , The Washington Post recently reported. It would be a major but necessary transition for the Saudi economy. In recent years, oil has accounted f...

Full article: http://www.greencarreports.com/news/1103625_even-saudi-ar...

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