The good times have gone

Headline: The good times have goneSource: EuromoneyDate: October 2000Author: Michael Field Not only western governments are worried by the oil price. Oil wealth has left Arabian Gulf countries ill-equipped to develop dynamic economies that can cope with the needs of growing populations. Abu Dhabi is aware of the dangers of this inertia but Saudi Arabia’s […]

Headline: The good times have gone
Source: Euromoney
Date: October 2000
Author: Michael Field

Not only western governments are worried by the oil price. Oil wealth has left Arabian Gulf countries ill-equipped to develop dynamic economies that can cope with the needs of growing populations. Abu Dhabi is aware of the dangers of this inertia but Saudi Arabia’s Crown Prince Abdullah is the man doing most to change attitudes and structures. Michael Field reports

       
Crown Prince:
Abdullah: campaign
against the
“middlemen”


The price of crude oil has gone through $30 a barrel this year but being a Saudi or a Kuwaiti today feels very different from the way it did when oil was last at this level 15 years ago.






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