The Role and Impact of Saudi Arabia to OPEC

The first ruler was succeeded by his son Saud, and in 1964 Saud's br another(prenominal) Faisal ascended the throne after Saud was deposed. At that time, the nation was nearly bankrupt, left with a set of tribal attitudes and methods and badly in need of modernisation. The chance for such modernization existed in the revenues being generated by the disc everyplacey and exploitation of oil. Nyrop (1984) writes:

By the year of his death Faisal had managed to take steps to ensure that the vastly increased wealth of his country would be directed toward long industrial and social welf ar programs that would eventu wholey benefit all sectors of the society and would secure Saudi-Arabian Arabia as a lasting and important power in the Arab world. . . (Nyrop, 1984, 4).

Nyrop also notes that although Saudi Arabia was founded in this century, it has a heritage that is 1,300 years old and customs that are even more(prenominal) ancient. In the eighteenth century devil rulers joined together to revive the spirit and practices of Islam as they were cognise in the seventh century. This heritage endured and was incorporated into the new Kingdom. westerly powers have had economic interest in Saudi Arabia since the 1930s. To the Muslims of the world, the line of business has long been important because their two holiest cities are located there--Mecca, the metropolis that holds Islam's most important shrine, and Medina, the city where the Prophet established his first community and laid the foundation of the Islamic natio

The authority of the king is formally limited only if by his adherence to the Sharia, or Islamic law. He must also be able to accommodate the senior amirs presiding over the formulation of consensus within the royal family on major constitution issues. Aside from these limitations, however, the powers of the monarch are absolute. All legislation is mark in place either by royal polity or by ministerial decree sanctioned by the king.

The king appoints all ministers, other senior government officials, governors of the provinces, and soldiers officers above the rank of lieutenant colonel. The king appoints all ambassadors and other foreign envoys. All foreign diplomats in Saudi Arabia are accredited to the king. The king acts as the final court of greet and has the power of pardon (Nyrop, 1984, pp. 209-210).

The Saudis were much affected by the neediness of market that came about as by 1985 the costs were change state disproportionately high. Saudi Arabia was being reduced to a more marginal role on the world stage:

The quick fall-away in political influence and significance, and the likelihood of further erosion, ran forbid to the fundamental precepts of the kingdom's security policy, at a time when the Iran-Iraq struggle was threatening the region and the Ayatollah Khomeini continued to pursue his vendetta against Saudi Arabia. The dramatic market loss also reduced Saudi influence on Middle Eastern politics and the Arab-Israeli dispute, and on the Western industrial countries. Oil power was losing its meaning. (Yergin, 1991, p. 747)

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