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A comment on Saudi Aramco Is the WeWork of Energy with Pulled IPO. Parent comment

Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO by marsRoverDev on Monday October 21, 2019 @09:12AM (#21311845)
So their inability to adapt to a modern world is our fault? I find that hard to believe when they as a society have had way more resources than the rest of the world for quite some time, and haven't really done much with it.
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Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO by apta on Monday October 21, 2019 @11:57AM (#21313732)
This is a good response to your question: https://news.ycombinator.com/item?id=21312537
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Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO by ahbyb on Monday October 21, 2019 @09:20AM (#21311921)
Societies that have failed despite having lots of resources because of cultural deficiencies or lack of intelligence, well, that could be applied to the whole of Africa. But that's really opening a bad can of worms ;-)
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Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO by TeMPOraL on Monday October 21, 2019 @09:25AM (#21311960)
You don't have to open the can of worms. Resource curse is a recognized phenomenon.

https://en.wikipedia.org/wiki/Resource_curse

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Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO by imtringued on Monday October 21, 2019 @09:46AM (#21312157)
I can imagine it's because it is very easy for corruption to absorb the wealth. The government has full control over the mineral rights of its land so authoritarian governments spend all of the money on foreign goods because they don't care about their domestic economy and simply trade the goods in USD [1] or some other stable currency that isn't tied to their country.
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Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO by dang on Monday October 21, 2019 @02:16PM (#21315437)
If you go into race war here we're going to have to ban you again.
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Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO by ahbyb on Monday October 21, 2019 @06:04PM (#21317978)
Sorry.
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