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.