Dubai And Our Gas Dollars

Discussion in 'Off-Topic' started by NJNetz, May 22, 2008.

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  1. NJNetz

    NJNetz BBW Banned

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    <div class='quotetop'>QUOTE </div><div class='quotemain'>With oil hitting $135 a barrel up over 1000% in about 9 years and gas prices hitting record highs yet again you might wonder where all this money is going.</div>
    Video
     
    NJNetz, May 22, 2008
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  2. Petey

    Petey Super Sized Sexy, The Bulls Fan Killer! Staff Member Administrator

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    Their development has been pretty amazing.

    Though not sure their main source of income is still oil.

    -Petey
     
    Petey, May 22, 2008
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  3. NJNetz

    NJNetz BBW Banned

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    I was actually stunned by the "before" and "after" picture of Dubai. Talk about a change from 1990.
     
    NJNetz, May 22, 2008
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  4. #1_War_Poet_ForLife

    #1_War_Poet_ForLife The Baker of Cakes

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    Can't wait to go there this summer.
     
    #1_War_Poet_ForLife, May 22, 2008
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  5. bbwtrench

    bbwtrench BBW Member

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    $4.31 a gallon on Guam right now. BOO!
     
    bbwtrench, May 23, 2008
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  6. shookem

    shookem Still not a bust

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    take a look at before and after pics of Calgary Alberta ... oh wait, it still looks like trash.
     
    shookem, May 23, 2008
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  7. Run BJM

    Run BJM Heavy lies the crown. Staff Member Global Moderator

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    <div class='quotetop'>QUOTE (Petey @ May 22 2008, 04:47 PM) <{POST_SNAPBACK}></div><div class='quotemain'>Their development has been pretty amazing.

    Though not sure their main source of income is still oil.

    -Petey</div>
    Here's what Wikipedia says:

    <div class='quotetop'>QUOTE </div><div class='quotemain'>Although Dubai's economy was built on the back of the oil industry,[63] revenues from oil and natural gas currently account for less than 6% of the emirate's revenues.[7] It is estimated that Dubai produces 240,000 barrels of oil a day and substantial quantities of gas from offshore fields. The emirate's share in UAE's gas revenues is about 2%. Dubai's oil reserves have diminished significantly and are expected to be exhausted in 20 years.[64] Trade (16%), entrepôt (15%) and financial services (11%) are the largest contributors to Dubai's economy. [65]</div>
    http://en.wikipedia.org/wiki/Dubai#Economy

    Pretty amazing stuff.
     
    Run BJM, May 24, 2008
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  8. Shapecity

    Shapecity S2/JBB Teamster Staff Member Administrator

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    Dubai has diversified itself away from just oil. They've had a nice run, but a lot of nations function because of the US economies ability to consume. Once we stop consuming their goods and services then what?
     
    Shapecity, May 24, 2008
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  9. Lavalamp

    Lavalamp Member

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    The US doesn't plan on stop consuming for a while.
     
    Lavalamp, May 24, 2008
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  10. Shapecity

    Shapecity S2/JBB Teamster Staff Member Administrator

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    <div class='quotetop'>QUOTE (Lavalamp @ May 24 2008, 11:09 AM) <{POST_SNAPBACK}></div><div class='quotemain'>The US doesn't plan on stop consuming for a while.</div>

    It has already slowed down because of the weak dollar, rising food & oil costs, and lack of credit available.
     
    Shapecity, May 24, 2008
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