Royal retreats line the north coast of Jeddah mile after mile.
The king has a peninsula for himself. Some estimate that 40 percent of national revenues flow to the royal family. But the average Saudi hasn't done as well as the royals. Today the national debt is almost that amount, and about 12 percent of the budget goes to servicing this debt. Now it appears that Saudi Arabia is considering selling off its source of income by permitting foreign investment in exploration and production.