Where has all the oil money gone

Grant

Grant

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For decades & decades the Middle East has been selling vast quantities of oil to the West, Russia & China - among others.

Where have all the proceeds gone? The general Middle East population remains illiterate & impoverished.
 
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Costs money to have solid gold toilets and the best of the best that money can buy and weapons, didn't ya know ........ the masses, pfffft, who needs them taken care of.
 
Did you think the sheikhs pulled their money out their ass?
 
Well i would not say it is an arab only issue, take america for instance, broke due to the government feeling the need to blow trillions on war rather than the people.

Look at africa, once again the countries rich from resources give nothing to their people. In general governments waste money and do very little for their people.
 
killadoob said:
Well i would not say it is an arab only issue, take america for instance, broke due to the government feeling the need to blow trillions on war rather than the people.

Look at africa, once again the countries rich from resources give nothing to their people. In general governments waste money and do very little for their people.
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The average American is way better off than the average Muslim or African. Also interesting to note that a lot of African countries to the north also have a lot of oil.
 
not all middle east nations have squandered their wealth.
the emirates may have some very rich sheiks, but they have also used their money to build a strong educational, healthcare and infrastructural base for their people and have at least attempted to diversify their economy away from long therm oil dependence.
if anything, i'd say the locals have come a hang of a long way in a very short time.

despotism, monarchy and tyranny (classical definition) rely strongly on the benevolence of the guys at the top.
at least it's more honest than the plutarchy/oligarchy under the guise of democracy which so many other nations display.
 
VJB 449 said:
The average American is way better off than the average Muslim or African. Also interesting to note that a lot of African countries to the north also have a lot of oil.
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muslim is not a nation as far as i know.
 
murraybiscuit said:
despotism, monarchy and tyranny (classical definition) rely strongly on the benevolence of the guys at the top.
at least it's more honest than the plutarchy/oligarchy under the guise of democracy which so many other nations display.
Click to expand...

so does democracy to be honest.
 
You should read this, Great book on Energy.. The Quest: Energy, Security, and the Remaking of the Modern World by Daniel Yergin 816 pages :p

most of the Oil money is going building so called 'knownledge economies' in the UAE... and developing oil and gas technology..
 
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