Opec discussed on Green Connections Radio - Insights on Innovation, Sustainability, Clean Energy, Leadership, Entrepreneurship, and Careers w Top Leaders, Women

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Well that's a generally good business trudgy to begin with which we could talk about for hours i think actually to be honest with you but let me back up a second why should the american american business people an american consumers care about aramco and ipo ipo will probably be the largest in the world as of yet in fact it will be it is likely the most valuable company certainly the most valuable oil company and it's important to understand not just for markets and for you know investing in stock market and things like that but one of their issues that it brings up is that oil is still an extremely important commodity and even as different economies are shifting towards using other sources of fuel we've been seeing growth of electric cars we are seeing much more pivoting towards natural gas then oil to feel power plants things like that and you'd still well is very important not just for transportation but the saudis in fact have been investing very heavily in petrochemical plants that make plastic and no matter how renewable energy sources are we all plastic and so it's important to realize that these are the kinds of things that affect their daily lives and where they come from and how they're being used and what the future is with them well that's a very good point i mean there's a big movement to reduce plastic obviously as you well know but people forget that plastic actually is made from petroleum based products of really glad you pointed that out how much control does opec really have today pick certainly has a lot less control over the oil market than we think it has and then it has had in the past at times when oil supplies are tight meaning there isn't a whole lot of extra supply in the world opec definitely has more influence especially because so d arabia has always had much more significant reserve capacity than other producers so that means that it's able to increase its capacity beyond what it's producing see their capacity is about twelve.

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