Accrington Web - The price of Oil

Quote:

Originally Posted by lettie

The Saudis forsee their oil supply diminishing in the next 6 years therefore the building work going on in Dubai. They are building up Dubai as a tourist mecca, putting up swish new hotels etc. They need another industry to fall back on when the oil runs out, so tourism is taking precedence. Our natural resources cannot last forever, as consumption increases resources will decrease and become more expensive.

We would still have reasonable prices if the government didn't tax petrol to the hilt.

Sorry to burst your bubble on the United Arab Emirates, http://www.uae.gov.ae/Government/oil_gas.htm but the chance of them running out of oil in the next 6 years is not going to happen, they have oil reserves to last over 150yrs and haven't even started pumping on 17 fields which will produce about the same amount as Saudi does. The building of hotels etc has been going on for about 20yrs but the major big buildings have only just been built in the last 7yrs. All buildings are given a 10yr life then they are reassed for structual integrity, so a beach property that needs to be pulled down can be replaced by a hotel, a new road that is built wasn't there 5years ago so they then put a new shopping mall up.
Saudi and the UAE are different countries and have different ideas about how they interpret the Koran so Saudi will never allow tourism in fact even if you work there you need to get permission to travel outside the city you work in and that includes going to the desert for a picnic or wadi bashing in a 4x4, where as in the UAE you can travel where you want, you can drink and women don't have to wear the vail or cover there faces you can dress how you like just a little more conservative then you would in the UK.
The difference on petrol prices is that in the UK its controlled by the goverment in the USA its controlled by the oil companys hence the difference in price.