I was talking with someone in Dubai yesterday and they pointed me in the direction of a great statistic, which is that by 2040 Saudi will be a net importer of oil. It’s so good in fact that if you Google: “By around 2040, Saudi Arabia will be a net oil importing nation”, Google tries to correct your search by changing “importing” to “exporting”.

Source of the graph is Chatham House (Burning Oil to Keep Cool: The Hidden Energy Crisis in Saudi Arabia by Glada Lahn and Paul Stevens) but IMF has also referred to this forecast.