Can The Middle East Survive Without Oil?
Is Saudi Arabia Going Bankrupt? http://bit.ly/22gcq6a Who Controls The World's Oil? http://bit.ly/1RJMSqu Subscribe! http://bitly.com/1iLOHml As oil prices remain low, oil-rich Middle...
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As oil prices continue to fall to around $40 a barrel, many oil-dependent nations are seeingtheir main source of profit drying up. One particularly frightening report from the InternationalMonetary Fund stated that most Middle Eastern countries could run out of money in just fiveyears. But the oil-rich Middle East has spent significant wealth on trying to find new sourcesof income once the petroleum economy becomes unprofitable. Some countries have alreadybegun to shift their economies away from oil production. So, can the Middle East survivewithout oil?Well, the majority of the Middle East’s oil comes from just six countries. Iran, Iraq,Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates produce more than 25 millionbarrels a day. But despite the region’s oil heavy ...
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As oil prices continue to fall to around $40 a barrel, many oil-dependent nations are seeingtheir main source of profit drying up. One particularly frightening report from the InternationalMonetary Fund stated that most Middle Eastern countries could run out of money in just fiveyears. But the oil-rich Middle East has spent significant wealth on trying to find new sourcesof income once the petroleum economy becomes unprofitable. Some countries have alreadybegun to shift their economies away from oil production. So, can the Middle East survivewithout oil?Well, the majority of the Middle East’s oil comes from just six countries. Iran, Iraq,Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates produce more than 25 millionbarrels a day. But despite the region’s oil heavy ...
