Dubai is nuts - Repost
Written by Tim on Wednesday, February 13th, 2008 in Business, Dubai.
This is just an amazing story, to which I give Full Credit to the author, who’s website is down, presumably to the awesome content of the below post. I’ve decided to post this myself because while it’s an amazing story, it’s kind of sad at the same time. Sad that we are paying through the nose for petrol, sad that we are are Still using Petrol.
So while I congratulate Dubai for seeing into the future and investing in itself, this because Dubai’s oil reserves have reduced over the past decade and are now expected to be exhausted within 20 years. This is just smart on their part, however, I still get upset when I see or hear the stories or videos about how the big oil companies have purposely killed any other technology, in order to keep us hooked on Petrol.
Opec purposely keeps limits on oil production, therefore creating an inflated price, which then just simply makes them more and more rich. Opec’s member states are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. Most, but not all these states are openly hostile towards Europe and North America, making it easy on their consciousness to keep prices here high.
I’m looking forward to the day day that I can drive a Tesla to work, knowing that I am only paying for an awesome car, and not the 20 or so awesome cars some shiekh in Dubai owns. (more…)