Close
KTAR.com
News
Shows
Blogs
KTAR News on 92.3FM

Analysis: High oil prices, Ukraine war at Saudi pivot point

FILE - Plumes of smoke rise from a burning oil depot after an attack by Yemen's Houthi rebels ahead of a Formula One race in Jiddah, Saudi Arabia, Friday, March 25, 2022. Whether trying to find jobs for a growing number of unemployed youth or finding a way to end the long war he launched in Yemen against the Houthis, Crown Prince Mohammed bin Salman and his father King Salman now face a potential pivot point for the kingdom amid Russia's war on Ukraine. (AP Photo/Hassan Ammar, File) This satellite photo from Planet Labs PBC shows the empty desert around where the future city of Neom, Saudi Arabia, is planned March 25, 2022. The additional cash from higher energy prices amid Russia's war on Ukraine comes in handy for Crown Prince Mohammed bin Salman, whose vision for Saudi Arabia includes developing a futuristic city called Neom in the desert reaches along the Red Sea. Satellite photos from Planet Labs PBC show the wider Neom project remains still at an early stage. It likely will be years before they produce the jobs the prince counts on for slingshotting the kingdom's economy away from oil. (Planet Labs PBC via AP) This satellite photo from Planet Labs PBC shows palaces near the future city of Neom, Saudi Arabia, Sept. 7, 2021. The additional cash from higher energy prices amid Russia's war on Ukraine comes in handy for Crown Prince Mohammed bin Salman, whose vision for Saudi Arabia includes developing a futuristic city called Neom in the desert reaches along the Red Sea. Satellite photos from Planet Labs PBC show the wider Neom project remains still at an early stage. It likely will be years before they produce the jobs the prince counts on for slingshotting the kingdom's economy away from oil. (Planet Labs PBC via AP) FILE - People walk past a banner showing Saudi King Salman, right, and his Crown Prince Mohammed bin Salman, outside a mall in Jiddah, Saudi Arabia, Saturday, March 7, 2020. A spike in global energy prices caused by Russia's war on Ukraine benefits Saudi Arabia as the world's top oil exporter, but problems remain for the kingdom's impulsive crown prince. (AP Photo/Amr Nabil, File) FILE - Then-U.S. Vice President Joe Biden, right, offers his condolences to then-Prince Salman bin Abdel-Aziz upon the death of his brother, Saudi Crown Prince Sultan bin Abdul-Aziz, at the Prince Sultan palace in Riyadh, Saudi Arabia, Oct. 27, 2011. A spike in global energy prices caused by Russia's war on Ukraine benefits Saudi Arabia as the world's top oil exporter, but problems remain for the kingdom's impulsive crown prince, who is now-King Salman's son. (AP Photo/Hassan Ammar, File)