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The modern political system seems tailored to cater to the short-term solution. Long term planning is done best by those who know they're going to be in that chair a long time. Of course, in systems where one keeps power for life, there are insufficient mechanisms to remove the useless, stupid or downright corrupt.
Saudi Arabia is transitioning, doy, because their own seemingly endless oil reservoirs are running out. I recall a study a few years ago that pointed out that Saudis are starting to pump out more water than oil.
Add to that the fact that they are very mum on their oil reserves, and we know they're getting ready for the day when they no longer export oil. At that point, they'll need alternatives to keep their oil imports low.
Mind you, we're only talking about Saudi oil... which will probably not "run dry" (i.e.: become commercially unviable) at the same time every other oil source does.
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