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Thread: Where Is All The Oil Money Going?

  1. #1
    Mid-Rise Member
    Join Date
    Apr 2006

    Where Is All The Oil Money Going?

    I've never seen all of these Dubai projects listed in one place (some I've not seen at all). By the way, there is political commentary at the end, but that is not my purpose for this thread.


  2. #2
    Perpetual Amateur
    Join Date
    Dec 2002
    Southwark, London
    Yeah. But to think that the 20th Century came up with the right directions - but just failed to make them big enough, which we'll do now - is to misread the past, present, and future.

  3. #3
    Skyscraper Member
    Join Date
    Mar 2007
    A few of those projects have been canceled, the underwater hotel and last I heard the last palm island and a few others are still in the drawing books. The commentary at the end made me laugh. Funny how closed minded some people are.

  4. #4
    the-young-and-the-bright RobertB's Avatar
    Join Date
    Jul 2004
    Official Mesquito
    Quote Originally Posted by downtownguy25
    The commentary at the end made me laugh. Funny how closed minded some people are.
    Consider the audience. The ads at the very bottom were for paranoid-fringe "buy gold now before the world economy crashes" sites. Though they have a point -- even I'm not tinfoil-hatted enough to claim that Bush *purposely* drove up the price of oil with his poorly planned invasion, but Dubai would be foolish *not* to cash in on the windfall before the golden goose goes kaput.
    As for our common defense, we reject as false the choice between our safety and our ideals... Those ideals still light the world, and we will not give them up for expedience's sake. - B. Obama 1/20/09

  5. #5
    Member concretist's Avatar
    Join Date
    Feb 2008
    parker county
    In the oil bidness, the biggest question is: what is the direction of the price of oil and / or gasoline? Refineries have to make huge decisions on plant expansions based on what is pretty much a guess. Well, two new factors have crept into the models - one is "credit insurance derivatives" and the other is "structured investments". Banking is just the beginning of this. Insurance companies sold billions in mortgage insurance, which was the teaser that made banks fall for this bullshit. After raking billions in fees from an insurance product no one thought anyone would need due to the idiotic assumption that real estate, like tulips and internet stocks, would rise forever, they then bundled these insurance instruments into complex securities called "structured investments", which were then sold to the Chinese and the oil fascists, as supposedly an investment as good as a US government bond. The collapse of AIG was the first round of this nightmare, the Chinese and the Arabs are about to be screwed. Guess who pioneered the whole scheme? Paulson, the current Treasury Secretary, when he was chairman of Goldman Sachs. Why do you think AIG got taken care of just days after Lehman got blown off. AIG is so much more of a bomb, ready to explode than Lehman, which was "just" a massive failure. So we have a conundrum - are they a down factor because the economic turmoil will cause less oil demand, or are they an up factor because the Arabs are about to take a 10 trillion dollar bath?
    Last edited by concretist; 26 September 2008 at 03:40 PM.
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