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ABSTRACT
The old paradigm of oil-for-security as the cornerstone of Saudi-US relationship will increasingly become moot when renewables start replacing oil. However, the relationship between the two countries will continue for two main reasons. The first is that the role of oil as the base of security decreases, but it becomes replaced by the fear of Iran, viewed by both Saudi Arabia and the United States as an implacable foe and dangerous hegemon. Second, Saudi Arabia is on its way to start replacing its dependence on crude oil by becoming a world leader in carbon-based value-adding products, like advanced chemicals, allowing it in the near future to reduce its oil production. But Saudi success in transitioning away from oil and the US ability to sell goods to the Kingdom will both depend on open maritime trade routes guaranteed by the United States.
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No funding of interest was reported by the author.
Funding
No funding of interest was reported by the author.
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No funding of interest was reported by the author.
Notes
3. As defined by the President of Alcoa, the partner of the Saudi Mining Company Ma’aden, in his Chairman’s letter in Alcoa’s 2015 Annual Report.
5. There are many estimates of the number of students in US universities. Some include the families coming with the students. This estimate may not include students who come on their own. Figures of 150,000 have been bandied about in various conferences. The figure of 60,000 was used by PBS NewsHour on March 19, 2019.
6. Computed from Middle East Economic Survey (Citation2020c).
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Jean-Francois Seznec
Jean-François Seznec is adjunct professor at Johns Hopkins’ School of Advanced International Studies. He is a senior fellow at the Atlantic Council and a scholar at the Middle East Institute. He holds a master of international affairs degree from Columbia University and a master of arts and doctorate from Yale University. He has published numerous books and articles and lectured extensively on the industrialization and politics of the Arab-Persian Gulf. He is interviewed and quoted regularly on national and international TV, radio and newspapers. Seznec has 25 years of experience in finance of which 10 were spent in the Middle East. In January 2019, Routledge published his latest book, co-written with Samer Mosis, The Financial Markets of the Arab Gulf: Power, Politics and Money.