A millennial has taken over Saudi Arabia's oil policy and people have serious concerns

Source: uk.businessinsider.com --- Monday, May 02, 2016
saudiarabia is desperately trying to diversify its economy away from oil, and the person pulling the strings is 30-year-old Deputy Crown Prince Mohammed bin Salman . King Salman is technically the ruler, but Prince Mohammed is the favoured son, and he is increasingly calling the shots on some pretty important events. He is quite possibly the most powerful millennial in the world, and he is now driving forward Vision 2030, saudiarabia's plan to curtail the kingdom's " addiction " to oil. But there are growing concerns among economists and observers that Prince Mohammed could be out of his depth. Prince Mohammed has built influence since his father came to power in January 2015, and this month he made it clear that his word is law when he gave the message that there would be  no freeze in oil production without Iranian participation . That Doha, Qatar, deal, or lack thereof, was enough to move the world markets. Prince Mohammed is not afraid to undermine other politicians' authorities to get his way. But this is ostracizing the technocrat saudi diplomats who are crucial to achieving Vision 2030. Without the old guard that has executed saudi economic policy for decades, Prince Mohammad could struggle to get things done. The millennial who is changing saudi's traditional decision-making Paul Sankey, a senior analyst at Wolfe Research, told the Financial Times in April that because of Prince Mohammed's young age — Sankey specificall ...