5/14 Where would you find the world's biggest man-made islands? The
world's tallest building? The world's largest man-made marinas?
The world's largest theme park? The world's tallest hotels?
The world's largest shopping malls? The world's largest indoor ski
resort? The world's first underwater hotel? Dubai, world's fastest
growing city at a cost of $100 billion USD:
http://www.pbase.com/bmcmorrow/dubaiprojects
http://www.pbase.com/bmcmorrow/image/37925466 (The World)
http://www.pbase.com/bmcmorrow/image/56426971 (sales office)
(each island starts at $25mil/each, all sold out in 8 hours)
\_ What a waste of money. If they have so much money, they should
build lots of freeways, mega malls, and endless suburbs so that
they'd have a much better quality of life. You can't even have
pets or raise camels in Dubai City. -dim's #1 follower
\_ Their super mega infrastructures cost $100 billion USD. Where
the hell did they get that kind of money?
\_ Uh, I don't know. Your $4/gallon gas? Regardless, $100B isn't
a lot of money these days. US spent a lot more on the Iraq War.
\_ And there't not even a single underwater ski resort to
show for it.
\_ http://www.theworld.ae
http://www.theworld.ae/video/The_World_Video4.mov
http://www.theworld.ae/video/The_World_Video4.wmv
\_ Very impressive. My impression of the Arabs used to be that
they're primitive beings who lived in huts and used camels to
travel. I guess they're a bit more sophisticated now -ignorant
\_ Without reinforcing extreme stereotypes, it's useful to point
out that Dubai's a great example of income disparity: the
wealthy live in the Crystal Palace, while the poor are lucky to
have a camel. Oh, and there are a lot more poor than wealthy.
\_ So? One of the free market Republican theories says that
wealth from the rich funnel down to the poor and everyone
has something more in the end.
\_ "My father rode a camel, I drive a car, my son flies a
jet plane. His son will ride a camel."
\_ And yet real world implementations of the trickle down
theory have resulted in more poverty and a lower standard
of living for the poor. Also, Reagan-era advisers who
first pushed trickle down have admitted that it was a con
job.
\_ If you're going to say something so blatantly stupid
you should at least try to find references -pp
\_ STFW, ass.
\_ Ad hominem when you can't find references.
So typical liberal. -pp
\_ What about "voodoo economics"? -!pp
\_ Uhm, I don't think that's unique to liberals,
but it's most definitely common to motd.
\_ Places like Dubai are a result of the temporary oil phenomenon.
In a decade or two these places will be ghost towns; without the
means to import mind-blowing quantities of food, industrial goods,
and cheap labor, only a small population can be sustained. Note
that many Middle Eastern countries have very high population growth
rates.
\_ Dubai gets 6% of the revenue from oil. The rest is tourism
and service and finance. The wealthy people not only put money
in Swiss banks, but also Dubai banks.
\_ Everyone will be hurting once oil production peaks. How
many will be able to afford to go there, will there be as
much need for financial centers, etc.? The point is that
the loss of the primary resource extraction can have grave
consequences on secondary and tertiary economic activity.
I'm not talking just about Dubai, but the whole region.
If they are successful in turning into a Middle Eastern
Singapore, then yes, it could work. But what happens if
importing food suddenly costs 2x, 4x, 10x as much?
\_ Where do you think those people will go?
\_ Somewhere else. Not like there is no precedent for this,
look at the massive immigration in Europe or the United
States.
\_ Remember that oil fields have fairly slow declines, and if we're
really in a global peak oil situation, rising prices should keep
export income strong for quite some time. I do agree that in the
absence of oil there's no 'there' there, but perhaps with a slow
enough decline in oil revenue they will diversify their economy.
\_ Modern oil recovery methods extract oil much more
quickly, so the later an oil field was developed, the
quicker the decline. Witness the difference in the decline
of the very mature oil fields in the United States, which
are declining slowly, compared to say Canterell or the North
Sea, which are practically collapsing. Also, many oil
exporters are trying to pump oil too quicky to take
advantage of the current high oil prices, which ultimately
hasten the decline and reduce the total amount recoverable
due to damage to the geological structures. If we're lucky
decline will be 3-4% year to year, but it might be as high
as 8%!
\- there is a quite good article on peak oil,
alternative sources for oil/hydrocarbons,
the state of stocks etc in the recent e'ist
issue with the Band of Democrats cover. |