Plain wrong. To compare company sizes:
Google est. $500 billion Saudi Aramco est. $10,000 billion (!)
Google is ~5% of Saudi Aramco.
Google est. $500 billion Saudi Aramco est. $10,000 billion (!)
Google is ~5% of Saudi Aramco.
Even with a recent tax reduction to boost its market capitalization, most analysts believe it is not worth more than $1.5 trillion. If you consider a foreseeable future, Google could likely surpass that as its services increase in value while oil is threatened by alternative energy.
Overall, the comparison seems wrong as Saudi Aramco and Google hold different proportions of value in oil/data that exist in the world.
[1] https://www.bloomberg.com/news/articles/2017-02-23/saudi-ara...
And this value dwarfs Google and Apple very easily.
[1] http://www.londonlovesbusiness.com/business-news/finance/sto...
But do keep in mind half of oil goes to fuel cars. Once cars become electric and solar chargers pop up in cities things change considerably.
We only rely on oily and pay absurds amounts of money to Saudi Arabia since we have little choice. Once the alternatives become cheaper, it's better both economically and environmentally to distance away from Saudi oil.
Sure Saudi can make oil cheap as dirt to combat alternatives but then they aren't making as much money. I don't foresee a scenario that in 20 years Saudi oil demand will keep on rising.
Their entire economy is based on natural resources. Not a great place to be.
> Last year, he said he expected the IPO would value Aramco at least $2 trillion. Any valuation would account for both oil price expectations and the size of Saudi Arabia's proven oil reserves.
http://www.reuters.com/article/us-saudi-aramco-ipo-idUSKBN17...