Petroleum has changed the lifestyle of people of Saudi Arabia”. Justify the statement.
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Petroleum has changed the lifestyle of people of Saudi Arabia
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Petroleum plays a vital role in changing an economy of Saudi Arabia. It is a known thing that petroleum is an important natural resource. ... This increase in oil companies increases employment giving bread and butter to many families and eventually enhanced the economy of Saudi Arabia.Saudi Arabia possesses around 17 per cent of the world's proven petroleum reserves. The oil and gas sector accounts for about 50 per cent of gross domestic product, and about 70 per cent of export earnings. Apart from petroleum, the Kingdom's other natural resources include natural gas, iron ore, gold, and copper.
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