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Originally Posted by WonderlandPark
They pump 2.7 million barrels per day, their extraction cost is about $7 per gallon, $65 per barrel...156 million per day profit, 7 days a week, 365 days a year. That is just the UAE, not the other countries investing their riches. Saudi alone exports 5 or 6 times that, approaching a half/three quarters billion profit EVERY DAY. Add all the others...Persian Gulf outputs 22-24 million barrels a day at similar extraction costs...1.5 billion a day. Every day, all year. WTF do you do with it? Build Palm islands and the tallest building in the world.
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First of all, who cares where they get their money.
Secondly we're talking about Dubai not the UAE in general. The UAE has plenty of oil but it's almost all in Abu Dhabi. Dubai's oil reserves are to run out in about 10 years.
The one thing I like about this strip is that ocean heights (the first one) and infinity tower bring some coherence to the area.