(Jerusalem Issue Brief - Jerusalem Center for Public Affairs) Mordechai Abir - Many analysts believe that if America were to establish a new regime in Baghdad, the recuperation of Iraq's oil industry could prove a major threat to the oil-dependent Saudi economy. Saudi per capita income has fallen from about $23,000 in the early 1980s to about $7,000 last year. Prince Abdallah has attempted to reform the Saudi economy and reduce expenditures on subsidies and perks, including the costly stipends paid to 7,000 royal princes. King Fahd's full (Sudairi) brothers, particularly Defense Minister Prince Sultan and Interior Minister Prince Na'if, have shored up their relations with Saudi religious conservatives and endowed Islamic foundations that fund the militants.
2002-11-29 00:00:00Full ArticleBACK Visit the Daily Alert Archive