Saudis to look at economy diversification due to oil price crash

posted at 6:31 pm on January 31, 2016 by Taylor Millard

The Saudis may have to completely change their economy after the crash of oil prices. The Middle East head of the International Monetary Fund thinks the Saudi Arabian government is going to have to admit its reliance on oil as the focus of its financial success isn’t enough. Via The Telegraph: (emphasis mine)

The world’s largest producer of crude oil will need to “transform” its economy away from oil revenues, which make up more than 80pc of the government’s wealth, according to Masood Ahmed, head of the Middle East department at the IMF.

“This will have to be part of a multi-year adjustment process,” Mr Ahmed told The Telegraph.

He urged the kingdom to reform its generous system of oil subsidies and introduce a host of new taxes, including consumption levies such as VAT.

“There will have to be a major transformation of the Saudi economy. It is necessary and it is going to be difficult, but it is a challenge which I think the authorities have clearly laid out”, said Mr Ahmed.

A part of the reason why Saudi Arabia is seeing their expenses jump is the fact they hand out subsidies to oil companies. The government shouldn’t be paying companies at all in tax breaks, but should instead keep taxes low for everyone. There’s no reason for the government to hand out welfare to any corporation because it only encourages the corporations to do baseline levels of production to make sure they get more government cheese (to steal a song title from The Rainmakers). Saudi Arabia’s decision to not cut oil production any time soon is just another example of cronyism. Via CNBC and Reuters:

So far, OPEC powerhouse Saudi Arabia has withstood pressure from other cartel members to cut output, instead sticking to a strategy of allowing the price of oil to drop to levels that were likely to force rivals such as U.S. shale producers out of business. The prospect that Saudi Arabia could relent helped oil prices rebounding on Friday, gaining more than 25 percenton the 12-year lows hit earlier in the month.

The problem is the move may have backfired because U.S. energy providers are certain the move towards fracking over traditional drilling is going to help them survive the current oil price freefall. It might put OPEC out of business, or at least convince the countries involved to stop trying to regulate the price of oil on its own. The oil issues sure have Saudi Arabia looking at other avenues of making cash. Bloomberg reported late last month how King Salman was going to cut subsidies and look at other ways to fix up the country’s government, including letting the private sector actually work.

In its first months in power, King Salman’s administration brought swift change to the traditionally slow-moving kingdom, overhauling the cabinet, merging ministries and realigning the royal succession.

The financial crunch imposed by cheaper oil means the focus is now shifting to economic reforms that the kingdom will carry out over the next five years. The government plans to privatize “several sectors” and “amend the programs of oil, water and electricity subsidies through re-pricing them gradually over the coming five years,” the ministry said.

Saudi Arabia is also going to do some military cuts as well because it’s realizing how bad the economy is. But the Kingdom’s issue isn’t just military spending and government oil subsidies, but problems with government spending as a whole, especially for people on welfare. Karen Elliot House noted in her book On Saudi Arabia: Its People, Past, Religion, Fault Lines – and Future how the government pretty much throws money at everyone, without real success:

The king’s decision to institute a minimum wage for government jobs, offer two-month bonuses to government workers, and create an additional 126,000 government jobs (60,000 for teacher and health diploma holders) will together give young Saudis even less incentive to prepare an compete for productive jobs in the private sector. With this latest largesse, public expenditures have tripled since 2004, while the private sector’s contribution to non-oil GDP has stagnated. Until productiveity increases in the private sector, per capita income in Saudi Arabia will continue to lag, holding down the standard of living for most Saudis. Indeed, adjusted for inflation, real per capita income has been stagnant since the middle of the 1980s at roughly $8,550.

House also writes Saudi Arabian oil companies are relying mostly on foreign workers for oil jobs, because Saudis aren’t interested or qualified. What it appears the Kingdom is trying to do is “Saudize” the economy (i.e. make it so more Saudis are working, not foreign workers), but the solutions aren’t working. House even compares it to some plans in the Soviet Union which promise much, but don’t deliver. Communism, amiright? So this is why things are bad in Saudi Arabia, and the long-term prospects don’t look good at all. This should also be a cautionary tale to U.S. businesses (and voters and elected officials) who believe increased government spending, added with corporate and general welfare will produce results. There are those on the Right (mainly Arthur C. Brooks at American Enterprise Institute) who believe a government safety net needs to exist, but the question is how big of one will it be? The other question Congress needs to look at is why do corporations really need ExIm to survive? How big of a corporate welfare safety net should the U.S. government provide? If the answer is zero, then how do those in Congress who are anti-ExIM convince their colleagues it needs to go away? This is also something anti-corporate welfare conservative and libertarians can bring up when talking to friends and family. If there’s enough of a push for fiscal sanity by voters, especially after elections are over and done with, then it might help America’s spending as well.


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Comments

The Saudis may have to completely change their economy after the crash of oil prices.

This is simply not possible for them. The House of Saud has squandered the oil wealth from day one and they have absolutely nothing else to back it up with. Sucks to be them.

Johnnyreb on January 31, 2016 at 6:34 PM

May the Saudis live in Interesting Times. God knows they certainly deserve it.

VorDaj on January 31, 2016 at 6:34 PM

Maybe the Bush and Clinton families can give the Saudis back some of the money they got from them.

VorDaj on January 31, 2016 at 6:39 PM

They should start buying houses in USA, Australia and Canada. The Chinese have been doing it for years.

All this is a ploy IMO. They have flooded the market to kill competition from other oil producing countries like the USA. Once they have killed enough industries and fracking is dead, the price will go back up again.

weedisgood on January 31, 2016 at 6:41 PM

Saudi Arabia is a top-down monarchy with more princes than you can shake a camel switch at. That’s not exactly conducive to reform.

WestVirginiaRebel on January 31, 2016 at 6:42 PM

Camel Futures Hardest Hit…

viking01 on January 31, 2016 at 6:44 PM

All the sell is oil and Islam. How will they diversify? And many of the actual Saudis don’t work at all–they live off the largess of the government, and allow imported labor to do all the work.

Doc Holliday on January 31, 2016 at 6:44 PM

Good thing for them that they excel at so many other things…oh wait.

Redstone on January 31, 2016 at 6:46 PM

Saudis to look at economy diversification due to oil price crash

Is that like Taylor Millard looking at feces word diversification because his creditability crashed?

oscarwilde on January 31, 2016 at 6:47 PM

I thought they were diverse: oil and terrorism.

rbj on January 31, 2016 at 6:48 PM

Only about 30 years too late … but hey, better late than never!

smokeyblonde on January 31, 2016 at 6:50 PM

Any discussion of the Saudis and no mention of Islam is missing something important. Islam is a complete way of life, including economics, legal system, etc. Because oil is a commodity the Saudis could make a lot of money off it without interfering with Islam. It will be impossible to diversify their economy as long as they allow Islam to set the standards for the legal and cultural system of the country.

Considering Mecca and Medina are in Saudi Arabia good luck on that…overall this is good for us, and infidels everywhere. Less money for the Arabians, less money for Jihad.

William Eaton on January 31, 2016 at 6:50 PM

I thought they were diverse: oil and terrorism.

rbj on January 31, 2016 at 6:48 PM

Now they are going to have to add K-Y Jelly to their portfolio. Its the camels turn to be on top…

oscarwilde on January 31, 2016 at 6:50 PM

All that oil.
So sad.
Let them drink it.

NeoKong on January 31, 2016 at 6:51 PM

Coming soon to a country near you: Saudi refugees

Firs the economy goes in the tank, then comes the civil war when desperately poor and hungry people get sick of royalty shoved in their face 24/7, then come the refugees.

KingOfTheRoad on January 31, 2016 at 6:51 PM

Saudi Arabia is a top-down monarchy with more princes than you can shake a camel switch at. That’s not exactly conducive to reform.

WestVirginiaRebel on January 31, 2016 at 6:42 PM

All the sell is oil and Islam. How will they diversify? And many of the actual Saudis don’t work at all–they live off the largess of the government, and allow imported labor to do all the work.

Doc Holliday on January 31, 2016 at 6:44 PM

Yep. This is the bottom line. Them working for a living would require a massive cultural shift which just isn’t going to happen.

Too many other countries with better prospects failed to diversify during the oil price boom too, and are now about to pay the piper (just look at Trinidad).

Doomberg on January 31, 2016 at 6:51 PM

They should try exporting sand and BO

Oil Can on January 31, 2016 at 6:53 PM

Once they have killed enough industries and fracking is dead, the price will go back up again.

weedisgood on January 31, 2016 at 6:41 PM

At that point the industry and fracking will revive.

wifarmboy on January 31, 2016 at 6:53 PM

Fracking won’t die just because the price of oil bottoms out. An oil bust is nothing new to the oil field. They have happened before and will happen again.

What I don’t understand is how the government is seen as subsidizing the oil industry when 80% of their budget comes from oil revenues. Not sure how he reached that conclusion.

JAGonzo on January 31, 2016 at 6:53 PM

Is that like Taylor Millard looking at feces word diversification because his creditability crashed?

oscarwilde on January 31, 2016 at 6:47 PM

Awww … be nice! Naivity can be overcome, but wilfull stupididity not so much.

smokeyblonde on January 31, 2016 at 6:53 PM

Grammar Nazi says, Taylor, there’s a typo under the pic. S/B Too many fingers…

Fallon on January 31, 2016 at 6:54 PM

Translation: Buy up US and European companies.

albill on January 31, 2016 at 6:55 PM

They should start buying houses in USA, Australia and Canada. The Chinese have been doing it for years.

All this is a ploy IMO. They have flooded the market to kill competition from other oil producing countries like the USA. Once they have killed enough industries and fracking is dead, the price will go back up again.

weedisgood on January 31, 2016 at 6:41 PM

The problem for the Saudis is they may have to hold out far longer than their current revenues can stand. Lots of the fracking areas in the U.S. are in new, previously untapped zones, where leases are not protected by production — if you’ve got a three-year lease that comes up in late 2016 and you haven’t drilled and begun producing yet, you have to drill or the lease goes up for bids again. Plus the horizontal wells that are coming in are producing huge volumes of oil, which is part of the reason for the glut on the American oil market. Even at $30 a barrel, a strike that starts with an initial 1,500-2,000 barrels a day is going to net $45,000-$60,000 per day. That will at least keep the big oil companies interested.

As low-cost producer, the Saudis could drop their prices to the point where even the big oil companies would let the leases lapse rather than drill. But as the article noted, Saudi Arabia has such a big government-run economy depending on bribes cash payouts to the masses, they run the risk of a major uprising if the funds run out and the gravy train stops. So they can only keep oil prices so low for so long before the money they’ve banked starts to run out, and by then cutting their production to boost oil prices will be too late.

jon1979 on January 31, 2016 at 6:58 PM

Goat herders hardest hit. If this keeps up they’ll have to start having sex with their wives.

vnvet on January 31, 2016 at 6:59 PM

oscarwilde on January 31, 2016 at 6:47 PM

Awww … be nice! Naivity can be overcome, but wilfull stupididity not so much.

smokeyblonde on January 31, 2016 at 6:53 PM

I am being nice, all evidence points to the 100 time Taylor was hit with a clue-by-four it having zero effect on him. He’s not naive, hes dumber than an broke empty New Jersey real housewife pothole.

oscarwilde on January 31, 2016 at 6:59 PM

What, no Pro Bowl thread? I kid, I kid.

rbj on January 31, 2016 at 7:03 PM

The Saudis are not really too worried about American shale. They are worried about Iran and Russia who need oil at 100+ a barrel for their economies.

melle1228 on January 31, 2016 at 7:07 PM

Everybody must get stoned… or beheaded… or maimed.

viking01 on January 31, 2016 at 7:08 PM

What, no Pro Bowl thread? I kid, I kid.

I briefly thought about it, but then I’d have had to watch it.

Jazz Shaw on January 31, 2016 at 7:13 PM

Once they have killed enough industries and fracking is dead, the price will go back up again.

weedisgood on January 31, 2016 at 6:41 PM

Yes, they said that is the goal.

lorien1973 on January 31, 2016 at 7:13 PM

The Saudis are not really too worried about American shale. They are worried about Iran and Russia who need oil at 100+ a barrel for their economies.

melle1228 on January 31, 2016 at 7:07 PM

On the contrary, they’ve specifically mentioned shale as the reason they are flooding the market.

lorien1973 on January 31, 2016 at 7:14 PM

Let them revert to the condition that existed in their lands before Standard oil, its discoveries and technology made them wealthy by dint of dumb luck of location.

Fortunately, they can go back to exporting sand.

The best aspect of this is that it may cut off their funding of the wretched wahabi madrasa system through which they have spread their false religious poison throughout the world.

Getting back to sand. One invites them to pound same.

Mason on January 31, 2016 at 7:17 PM

They have flooded the market to kill competition from other oil producing countries like the USA. Once they have killed enough industries and fracking is dead, the price will go back up again.

weedisgood on January 31, 2016 at 6:41 PM

…you should hang out with Taylor.

JugEarsButtHurt on January 31, 2016 at 7:23 PM

All the sell is oil and Islam. How will they diversify? And many of the actual Saudis don’t work at all–they live off the largess of the government, and allow imported labor to do all the work.

Doc Holliday on January 31, 2016 at 6:44 PM

Slave trading.

Christien on January 31, 2016 at 7:37 PM

After they finish building the World Cup 2022 stadiums in Qatar, those workers will be sold.

Christien on January 31, 2016 at 7:40 PM

Ha! I work off and on in the Gulf and have said since the first time I went that if it wasn’t for oil, these countries would all be third-world shit holes like Somalia, only worse, because it’s hotter and nobody would ever go there. The Saudis have absolutely nothing to sell (or tax) except oil, and the same goes for the Qataris and the Emiratis. Egypt’s got the canal, Yemen has a port and something of an agricultural sector, the rest of them got nothing but sand.
Maybe the Saudis can start charging admission for the haj. Yeah, that’s the ticket.

mongoose on January 31, 2016 at 7:55 PM

Diversify to what ? Camel crap. It would be another Islamo rathole if it weren’t for oil.

alanstern on January 31, 2016 at 7:59 PM

They could sell off some of that land empty land. I think I know some folks who might buy some

DarkCurrent on January 31, 2016 at 8:00 PM

too

John the Libertarian on January 31, 2016 at 8:18 PM

They have flooded the market to kill competition from other oil producing countries like the USA. Once they have killed enough industries and fracking is dead, the price will go back up again.

weedisgood on January 31, 2016 at 6:41 PM

The USA is still an oil importing country to the tune of about 8 million barrels per day. We export our light, tight oil (LTO) mainly because our refineries are set up to process the heavier crudes we get from Canada, Mexico, and Venezuela. I won’t go into the details, but we can’t really process our own crude with our current refineries, so that’s why the export ban should have been (and was) lifted.

Plus the horizontal wells that are coming in are producing huge volumes of oil, which is part of the reason for the glut on the American oil market. Even at $30 a barrel, a strike that starts with an initial 1,500-2,000 barrels a day is going to net $45,000-$60,000 per day. That will at least keep the big oil companies interested.

jon1979 on January 31, 2016 at 6:58 PM

True enough, except that fracked wells (those in the industry like to spell it as fraced or fracced; I personally prefer fracked) produce well for a few months, then tend to taper off. What is keeping companies alive now are “drilled and uncompleted wells” (DUCs). The wells are just waiting to be fracked, and they’ll produce prodigious amounts of oil for a short period of time. There are about 1800 DUCs in the US right now, so LTO appears to be able to continue for a long period of time to come.

The Saudis are not really too worried about American shale. They are worried about Iran and Russia who need oil at 100+ a barrel for their economies.

melle1228 on January 31, 2016 at 7:07 PM

On the contrary, they’ve specifically mentioned shale as the reason they are flooding the market.

lorien1973 on January 31, 2016 at 7:14 PM

On the contrary to the contrary, they have not said specifically any reason. They have merely said that those who can produce more cheaply should hold the market share. They have not mentioned any specific target. I am in the oil patch, and I’ve been following this daily since about September of 2014, just shortly after the downturn was almost certainly turning into another oil patch bust.

In November of 2014, they announced they would not cut production to stem the falling price. The rout started in June of 2014, when it became apparent that the world was producing about 2 million barrels per day more than it was producing. US shale is responsible for much of this, but the US produces only about 10% of world oil production; nearly exactly the same as the Saudis produce. Russia is the largest producer, and Iran is coming back on the market. Speculation is that Russia, Iran, US shale, and Canadian oil sands were the targets. Of the four, Oil Sands appear to be the most affected.

All the sell is oil and Islam. How will they diversify? And many of the actual Saudis don’t work at all–they live off the largess of the government, and allow imported labor to do all the work.

Doc Holliday on January 31, 2016 at 6:44 PM

There are some small sectors within the oil patch that the Saudis already have a fairly large presence. Of course, they only want to be managers or directors or higher. They won’t take any of the labor-intensive roles, but they will take some of the technical roles. There do exist Saudi mechanics and electricians on the drilling rigs, as well as a few in project management and Health, Safety, Environmental (HSE).

You won’t find Saudis on the drill floor, in the kitchen, or on the roustabout crew (like a deck hand on a ship). Like most countries in this part of the world, they import labor from India, the Philippines, Indonesia, or the like for labor positions.

Wino on January 31, 2016 at 8:46 PM

I hear there is money and opportunity in the jihad business.

ghostwalker1 on January 31, 2016 at 8:53 PM

As a follow up to my previous note, my bona fides:

I live in Dubai, and I work in the oil patch. This is what I do for a living, so I’m very attuned to what is happening. If anyone has any questions about what is happening in the oil patch now, if I don’t personally know the answer, I almost certainly know someone who does know the answer.

I have a contract to go to KSA this quarter to teach three different classes to the Saudis. The last time I went, my entire classroom was full of Saudis who work on drilling rigs. They were mostly electrical engineers with a couple of mechanical engineers. I teach control systems, which are those things that automate much of what happens on drilling rigs.

Nota bene: When I teach, that’s what I teach. Training is not my primary job function, although it hsa been in the past.

Wino on January 31, 2016 at 8:57 PM

What are they going to do?

Export more terrorism around the world?

Valiant on January 31, 2016 at 9:05 PM

As far as im concerned the Saudis can go back to being poor nomads walking from camp to camp herding their goats. They have bilked The USA for generations with OPEC. May cheap oil be their demise. I may be short sighted in my wishes but it may be worth it to see the royal family and the kingdom go broke.

jaywemm on January 31, 2016 at 9:10 PM

When the Saudis first started increasing production to crush the shale producers, I thought Putin would lob a few cruise missiles at the Saudi refineries/holding facilities. Blame it on isis, oil skyrockets, Iran elated, house of saud crushed. Who would stop him?

thedevilinside on January 31, 2016 at 9:15 PM

Allah be praised, being all merciful and just is about to remind the Saudis and the rest of Middle East of an ancient biblical proverb: “Pride goeth before the fall.” Seems those dang Jews had it right along. Couldn’t happen to a ‘nicer’ bunch of folks. I might shed a single tear for them. Hmmm, no I won’t.

Tarnsman on January 31, 2016 at 9:40 PM

Wino on January 31, 2016 at 8:46 PM

Wino on January 31, 2016 at 8:57 PM

Good posts. Appreciate the information!

xNavigator on January 31, 2016 at 9:54 PM

All the sell is oil and Islam. How will they diversify? And many of the actual Saudis don’t work at all–they live off the largess of the government, and allow imported labor to do all the work.

Doc Holliday on January 31, 2016 at 6:44 PM

See the expert here:

There are some small sectors within the oil patch that the Saudis already have a fairly large presence. Of course, they only want to be managers or directors or higher. They won’t take any of the labor-intensive roles, but they will take some of the technical roles. There do exist Saudi mechanics and electricians on the drilling rigs, as well as a few in project management and Health, Safety, Environmental (HSE).

You won’t find Saudis on the drill floor, in the kitchen, or on the roustabout crew (like a deck hand on a ship). Like most countries in this part of the world, they import labor from India, the Philippines, Indonesia, or the like for labor positions.

Wino on January 31, 2016 at 8:46 PM

I live in Dubai, and I work in the oil patch. This is what I do for a living, so I’m very attuned to what is happening. If anyone has any questions about what is happening in the oil patch now, if I don’t personally know the answer, I almost certainly know someone who does know the answer.

Wino on January 31, 2016 at 8:57 PM

AesopFan on January 31, 2016 at 9:55 PM

Any discussion of the Saudis and no mention of Islam is missing something important. Islam is a complete way of life, including economics, legal system, etc. Because oil is a commodity the Saudis could make a lot of money off it without interfering with Islam. It will be impossible to diversify their economy as long as they allow Islam to set the standards for the legal and cultural system of the country.

Considering Mecca and Medina are in Saudi Arabia good luck on that…overall this is good for us, and infidels everywhere. Less money for the Arabians, less money for Jihad.

William Eaton on January 31, 2016 at 6:50 PM

Indeed.

AesopFan on January 31, 2016 at 9:56 PM

I was in Iran 63-64. Repressive secular regime trying to manage a religious undercurrent. We know how that turned out.
I was in Saudi Arabia 81-86. Sunni monarchy trying to manage Shia majority. I predicted then that when the oil money ran out it would follow the Iran model.
When it does oil prices will spike. Until then Russia, Iran and Venezuela will suffer economically which makes them dangerous.
Fasten your seat belt folks there are rough air ahead.

Deadeye on January 31, 2016 at 10:09 PM

The last time the Saudis faced a dire crisis in the price of oil, we had 9/11, what will happen this time?

oarmas on January 31, 2016 at 10:18 PM

The sex slave business is a growth industry and it is within the boundaries of Sharia law, so they have that going for them…

2Tru2Tru on January 31, 2016 at 10:35 PM

Unless you consider all wealth people earn as the govt’s property then this sentence makes no sense. “The government shouldn’t be paying companies at all in tax breaks”. Not taking someone’s money is NOT the same thing as paying them that money you didn’t take.

lusir on January 31, 2016 at 10:47 PM

To many fingers in one pie?

As always, but a more appropriate cliche is ‘all their eggs in one basket’. Someone punted the basket.

No worries, I’m sure once the stupid muzzies decimate the west, that oil will be back in demand, right?

No? Oh.

Andy__B on February 1, 2016 at 1:14 AM

I could see them having a huge future in pounding sand.

trigon on February 1, 2016 at 1:37 AM

They’ve had suadization programs forever. The problem is that even if they are trained correctly then they are simply uninterested in doing anything other than drink tea and smoke.

speekr on February 1, 2016 at 3:55 AM

To many fingers in one pie?

As always, but a more appropriate cliche is ‘all their eggs in one basket’. Someone punted the basket.

No worries, I’m sure once the stupid muzzies decimate the west, that oil will be back in demand, right?

No? Oh.

Andy__B on February 1, 2016 at 1:14 AM

It’s not cliche the way Taylor wrote it.

He invented a new idiom: perhaps toasting “to many fingers in on pie?”

If he spoke English, he may have written “Too many fingers in one pie?”

Skipity on February 1, 2016 at 5:34 AM

Why are we not rubbing the left’s face in this? They mocked the right for chanting drill baby drill. Yet here we are.

jhffmn on February 1, 2016 at 5:40 AM

The wonderful thing about fracking is that there is almost an on/off switch to it. As soon as prices rise again, the fracking will start again. The Saudis know this.

chilloutyo on February 1, 2016 at 7:25 AM

Oh, horrors! Does this mean the end of Saudis in Audis?

Galtian on February 1, 2016 at 8:07 AM

amiright?

Only by accident.

Younggod on February 1, 2016 at 9:02 AM

weedisgood on January 31, 2016 at 6:41 PM

That was the plan but it isn’t working out as they had hoped. The frackers are not going away because they have loans to repay so they will continue to produce even with low priced oil. Iran is back online as well. Other nations, such as Venezuela and even Russia also have no economy to speak of besides oil so they cannot just stop producing. We’ll see a small comeback in prices but the glory days of $100/bbl are over.

MJBrutus on February 1, 2016 at 9:29 AM

Diversify into what? Saudis don’t actually work – they hire virtually EVERYTHING that actually produces out to foreigners, because they’re too noble to get their hands dirty.

Those government workers are in make-work jobs, aka welfare.

The actual oilfield workers are from other countries. Maintenance on their military assets is done by workers from other countries. Their education system is a joke – a programmer with a Masters in CS I knew spent more time studying the koran (by his own admission) than in studying CS.

One day the saudis will discover that the top 1000 members or so of the house of saud will be gone to Geneva with their billions and billions, and hte sand-dwellers can go pound sand.

HBowmanMD on February 1, 2016 at 9:40 AM

Maybe they should lead the way in developing solar-powered beheading apparati. That would certainly bring their economic/technological base into the 21st century.

jbspry on February 1, 2016 at 10:02 AM

I for one am really concerned for all those poor arabs who will be out of…

Oooo Look, a Squirrel!

Agent Cooper on February 1, 2016 at 12:43 PM

Might have been a good horse, but its still a 1 horse town.

Mr Soames on February 1, 2016 at 1:19 PM