The wealth of a nation brings economic opportunities and in Saudi Arabia, Aramco is the bread winner. The current oil prices have brought in profits due to the demand and supply of Aramco’s oil exports (Aramco announces, 2022) (Faucon and Said,2022). The dividends from profits seen equates to the funding of the nation's government (Aramco announces, 2022). With 18.3 billion from the first quarter for payouts in fourth quarter, places Aramco of Saudi Arabia as the leading exporters of oil. A kingdom whose wealth at one point almost dried up when the United Arab Emirates surpassed them in 2019 (Twin, 2022), is now prospering by almost a triple fold in profits (Aramco announces, 2022). Jeremiah 29:11 speaks about future prosperity. It says, “For I know the plans I have for you,” declares the LORD, “plans to prosper you and not to harm you, plans to give you hope and a future” (NIV). Saudi Arabia’s envision for 2030 is the future approach to bring wealth by other means than oil from Aramco to the Saudi people (Vision 2030). This switch in wealth is continuing the vision of 2030 for Saudi Arabia from the cash flow pouring into Public Investment Funds (PIF) to invest in ways that allows the nation to step into the future, bring about change in the economic strength from oil dependency. and invest in technologies and programs that lock in new opportunities. Saudi Arabia, a society that is filled with energy that flourishes an economic lifestyle balanced from new aspirations, is working from the humble beginning of Saudi Aramco and run with a vision to set them apart. Goals that have created and brought forth wealth, to allow them independence of the oil market industry.
References
Aramco announces first quarter 2022 results (2022) Aramco. https://www.aramco.com/en/news-media/news/2022/aramco-announces-first-quarter-2022-results
Faucon, B., & Said, S. (2022, May 05). OPEC, Allies Stick to Production Plan as High Oil Prices Boost Economies; Saudi Arabia and other oil exporters are among the biggest winners from the global commodities shock triggered by the Ukraine war. Wall Street Journal (Online) https://ezproxy.regent.edu/login?url=https://www.proquest.com/newspapers/opec-allies-stick-production-plan-as-high-oil/docview/2659593321/se-2
New International Version (2022) Bible Hub. https://biblehub.com/jeremiah/29-11.htm
Twin, A. (2022) The world’s 10 biggest oil exporters: Oil is a leading export worldwide. Investopedia. https://www.investopedia.com/articles/company-insights/082316/worlds-top-10-oil-exporters.asp
Vision 2030 (n.d.) The Embassy of the Kingdom of Saudi Arabia. https://www.saudiembassy.net/vision-2030