LONDON, U.K.—You can see why Saudi Arabia wants to go on pumping as much oil as it can. Oil exports account for 87 per cent of the Saudi government budget and 42 per cent of GDP. The Saudi population, now 35 million, is growing by two-thirds of a million a year, and the country already imports 80 per cent of its food. They’d be starving in a few years if they stopped pumping.
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