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Saudi Aramco, or Saudi Arabia Oil Company, is beginning an initial public offering (IPO) on Sunday, November 17. The oil company is one of the largest moneymakers in the world because everyone has to use oil and gas to fuel their cars.
Although this IPO gives people the opportunity to invest in this oil company, this stock is not seen as being profitable over the long run. Due to efforts to stem climate change, different governments from all over the world are veering towards alternative sources of energy like wind and solar. Aramco is actually hedging its bets now by cashing in with the IPO next week.
That being said for years the price is still rising
Unfortunately, it would be difficult to live without oil, dear friend … they also produce many other by-products from oil
That is true – oil will not be taken totally away from being sold, but the demand for oil will be less in the future. Supporting Saudi Arabia does not seem to be a good investment.
That being said for years the price is still rising, my friend