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Crude Economics
How Cheap Crude Is Hurting Saudi Arabia
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  • Kevin

    Middle class used to refer to the petit bourgeois, artisan, merchants, professionals, etc.
    By this definition these Saudis are not at all middle class, just recipients of royal largess.

    • Andrew Allison

      The problem is that in the USA, perhaps uniquely, it’s an income bracket. So when TAI talks about the Saudi middle class, it’s anybody’s guess as to what it means. Mine is that it’s the petit bourgeois.

      • FriendlyGoat

        Well, TAI is just copying this from WSJ article, which suggested that a lot of the impacted middle class there works for the government.

  • JR

    So in other words, US shale reserves are the swing producer in the world right now. That’s pretty bitchin’!!!!

    • Proud Skeptic

      I don’t see how I could enjoy this more.

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