International Economics

Introduction

Saudi Arabia is a country located in the Middle East. It produces various products that it trades to other countries all over the world. Petroleum products form part of the goods dealt in the country. It has multiple petroleum products that are processed to serve the country, and the rest are sold to other parts of the world. As a result, the Kingdom of Saudi Arabia is among the top five oil-producing countries coming after the United States. The other petroleum products produced by the country include natural gas liquids, propane, ethane, butane, gasoline, and pentanes. However, the petroleum products produced in Saudi may bring certain strengths, weaknesses, opportunities, and threats.

Strengths

There are various strengths that the petroleum products in Saudi Arabia may bring to the country in the future. Firstly, currently, the Kingdom of Saudi Arabia uses oil, which is a petroleum product, for electricity. In the end, this will only increase, hence helping people in the country, especially due to the increase in demand for electricity promoted by the country's rapid growth (Mahmood et al., 2020). Secondly, the petroleum products produced in Saudi Arabia are also used to lubricate machines and surfaces. Due to the growing nature of the country in terms of industries and technology, it is clear that petroleum products used for lubrication will be needed more. Moreover, petroleum products are also used as fuels to power engines. They are therefore used in motor vehicles, machines, and even planes. Since the number of such machines is increasing globally, the petroleum products produced will continue to be a strength.

Weaknesses

On the other hand, there are also certain factors promoted by petroleum products that are considered weaknesses. As much as petroleum products are helpful, their consistent and long-term usage may bring some unwanted results to the country. Some of the most common weaknesses that long-term use of petroleum products may bring to the country are that combustion when using petroleum products leads to the emission of unwanted toxic gases to the environment (Briggs, I. L., & Briggs, B. C., 2018). Secondly, the long-term use of petroleum products in Saudi Arabia may lead to the production of acid rain in the environment. Finally, another weakness associated with the long-term use of petroleum products in Saudi Arabia is the difficulty in transporting petroleum products (Jurušs & Seile, 2017). Therefore, in the long run, the use of petroleum products may be harmful to the country.

Opportunities

Weaknesses aside, there are other matters such as opportunities provided by the long-term use of petroleum products. Firstly, the long-term use of petroleum in Saudi Arabia is likely to bring about employment opportunities to people working at various stages of production. Different steps are involved in the processing of petroleum products before they become the final required product. The processes include refining, transportation, and treatment. Currently, there are many people employed in the sector serving at various stages of processing. Therefore, in the future, I think more people will be employed in the different sectors of the petroleum products industry. Another opportunity that the petroleum product industry can provide to Saudi Arabia is the increase in the production of electricity to serve the growing need for electricity.

Threats and Implications of Saudi Vision 2030

Finally, the use of petroleum products may also pose some threats to the development of the country. Firstly, people's increased use of petroleum products may bring about unwanted effects such as headaches, skin irritation, and dizziness to the people who use them (Kuppusamy et al., 2020). In some cases, their usage can even cause death. Secondly, petroleum products are considered a threat because they may bring about environmental pollution through the combustion of fuels. When the environment is polluted, people may develop breathing problems resulting in heart diseases (Manisalidis et al., 2020). The use of petroleum products in the country is therefore beneficial but may consequently bring about unwanted effects. The implications of the Saudi vision 2030 may thus be adverse to the environment and the people in general. Therefore, countries such as Saudi Arabia should regulate the use of petroleum products to ensure the safety of the people.

Outline to International Economics

Introduction

• Saudi Arabia is a country located in the Middle East. It produces various products that it trades to other countries all over the world.
• Petroleum products form part of the goods dealt in the country. It has multiple petroleum products that are processed to serve the country, and the rest are sold to other parts of the world. As a result, the Kingdom of Saudi Arabia is among the top five oil-producing countries coming after the United States.

Thesis Statement

• However, the petroleum products produced in Saudi may bring certain strengths, weaknesses, opportunities, and threats.

Paragraph I

• There are various strengths that the petroleum products in Saudi Arabia may bring to the country in the future.
• They are therefore used in motor vehicles, machines, and even planes. Since the number of such machines is increasing globally, the petroleum products produced will continue to be a strength.

Paragraph II

• On the other hand, there are also certain factors promoted by petroleum products that are considered weaknesses.
• Finally, another weakness associated with the long-term use of petroleum products in Saudi Arabia is the difficulty in transporting petroleum products (Jurušs & Seile, 2017). Therefore, in the long run, the use of petroleum products may be harmful to the country.

Paragraph III

• Weaknesses aside, there are other matters such as opportunities provided by the long-term use of petroleum products.
• Another opportunity that the petroleum product industry can provide to Saudi Arabia is the increase in the production of electricity to serve the growing need for electricity.

Conclusion

• Finally, the use of petroleum products may also pose some threats to the development of the country.
• Therefore, countries such as Saudi Arabia should regulate the use of petroleum products to ensure the safety of the people.