Monday, July 25, 2011

Governments Can't Create Jobs. Except Saudi Arabia.

Great news! Dow Chemical and Saudi Arabian state owned Saudi Arabian Oil Co. are entering into a joint business venture in Midland, Michigan. It's a 20 Billion dollar joint venture between the two companies...the new joint company will be called the Sandara Chemical Company and will be one of the largest in the world and will create "thousands" of jobs right here in Michigan.

The Joint Venture should have annual sales of around $10bn within a few years of operation and create thousands of jobs, the companies said.

This is fantastic news on the jobs front. But as we all know, private companies, not Governments, create jobs and Saudi Arabian Oil Co is a State owned company.

Or does that not count if the Governmnet is Saudi Arabia?

No comments: