4 ms·
Dubai is emblematic of excesses that have led major developed countries into a major recession. It's about terrible investments in land and energy. That ski par
by ANH 16y ago
Dubai is emblematic of excesses that have led major developed countries into a major recession. It's about terrible investments in land and energy. That ski park the article mentions? It consumes the energy equivalent of 3,500 barrels of oil per day. Over a barrel of oil for each visitor.
- powertower 16y ago1 barrel of oil produces about 20 gallons of gasoline.
- beedogs 16y agoand?
- jrockway 16y agoI think the point is, "most Americans use several barrels of oil a week, for driving their cars and powering their HDTVs". We all use a lot of energy these days, so it seems unfair to single out Dubai.
- visakhcr 16y agoDubai's oil reserves have diminished significantly and are expected to be exhausted in 20 years. http://web.archive.org/web/20080705161411/http://www.uae.gov.ae/Government/oil_gas.htm#Dubai http://web.archive.org/web/20080705161411/http://www.uae.gov... The reason they are building skyscrapers, race-tracks etc is that once the oil run out, Dubai shouldn't see an exodus. They want to become the financial capital of Asia and keep the money flowing in.
- hammerdr 16y agoAbu Dhabi, though, is in a similar monetary situation and yet it has prospered. While it has its blemishes and extravagance, it has turned its primarily-oil GDP into a well structure economy. It has diversified significantly. Instead of spending $2b on a race track, Abu Dhabi spent $700m on a solar plant. I would liken the current status of the West as more aligned with Abu Dhabi. Dubai is something that could happen if our eyes get bigger than our stomachs.