Newmont Goldcorp Corp (NGT)

[echarter]

I agree with the Arabs only because it is natural to be fatalistic if you look at history, and conclude the worst can happen. Arabia, particularly the Saudi Arabia, was built on Oil. Once gone, it is tempting to believe it can return to tent living. On the other hand it was once the land of Suleiman's empire, and that was without oil. It became a land of fragmented people when it was autocratically and ultra -conservatively/religiously run by the Turks. The Turks did that as they feared the Muslim expansions of the past era. They suppressed the people with the religion that had inflamed them.

The Arabs are too negative. In fact if their poltical fabric allows forward social change and free intellectual ferment, then their future prosperity is equally assured without oil. The main proviso is that they find a way to deliver raw materials to their nations withou expanding their borders by war.

I don't fear the next 25 years. Somewhat more I fear the following 100, if the poltitical necessities of long term survival don't overcome the greed and will to overweaning power of the worst of the ME autocrats.

EC<:-}