Gulf Economies: Clouds on the Horizen

wisconsin_cur

A very good, detailed article,

The Economist

dissident · Heavy Crude Joined: Apr 08, 2006 Posts: 389

The Economist is a monetarist rag. It's one note tune about oil producers "drowning" in oil revenues is hilarious given that it does not make a squeak about the borrow and spend US economy. The Gulf economies are actually growing which reflects in the increased domestic demand for fossil fuels. The Economist wishes they did not grow and instead siphoned all of their revenues back to the USA and other consumer nations. Heaven forbid they might have inflation from high growth rates. Everybody knows inflation is much more important than real income growth. LOL.

mkwin · Intermediate Crude Joined: Jun 01, 2007 Posts: 570

scienceteacher · Tar Sands Joined: Apr 06, 2006 Posts: 67

Here's where those dollars are going. Some unbeleivable photos:

http://www.tutztutz.com/2008/02/dubai-what-the-hell-is-going-on-over-there/

wisconsin_cur

And with that desert heat and lack of humidity it will be the greatest ruins ever. Imagine how future generations will try to put it all together. It will look like it was the center of civilization.

I guess maybe it is. Sad

Of course most of that won't get built but enough has been built already to leave an impression.
_________________
"Against stupidity the gods themselves contend in vain."
-Friedrich von Schiller

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Homesteader

What are they supposed to do with all their money? Not build infrastructure? At least they aren't building suburbs and automotive plants! Laughing

Tyler_JC

I can't imagine what the air conditioning bill for all of this unsustainable development will be.

Do they plan on adding a dozen nuclear power plants as well?

If not, what exactly is going to stop these 50 story greenhouses from cooking the inhabitants?

What about the water bills? How many public fountains and swimming pools need to be filled with desalinated ocean water?

I saw at the bottom of the page that they want to build a space port. A SPACE PORT?

WTF ARE THEY GOING TO DO WITH A SPACE PORT... Crying or Very sad

The architects of these projects need to be smacked over the head with the cold, hard crowbar of reality.

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Johnston · Tar Sands Joined: Sep 17, 2006 Posts: 60 Location: Japan

Tyler_JC

In theory, they plan on catering only to the high end market.

But the high end market is shrinking...

How many Bear Stearns fund managers are taking a trip to Dubai this year?
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"www.peakoil.com is the Myspace of the Apocalypse."

cube · Fusion Joined: Mar 12, 2005 Posts: 3373

mkwin · Intermediate Crude Joined: Jun 01, 2007 Posts: 570

well they have awesome CSP and general solar resources, which I am sure would power their air conditioning and water plants at a reasonable cost.

GASMON

dorlomin · Light Sweet Crude Joined: Aug 05, 2007 Posts: 1003

A rather fetching example of the export land model in action there.

However the inflationary pressures and social unrest are not a joke. They will have to spend alot of money on keeping food prices down to stop social unrest in there populations. It will be an insane treadmill they will be on.

BigTex

Tyler_JC