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Tuesday, October 30, 2007

What are Petro Dollars ?

United Emirates of Arabia Oil Revenue Per Year: 5,000,000 million barrels per day * 360 days * 80 dollars oil price = 144,000,000,000 USD = 144 billion US dollars in one year.

144 billion US dollars per year, that is 400 million US dollars per day in revenue that the United Emirates of Arabia earns revenue from crude oil production. What are they doing with all that money? Discover these astonishing projects in Dubai:

Palm Jebel Ali (PJA) and Dubai Waterfront (DWF)

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You might have heard: oil is a finite resource. So, it will run out one day. But before that happens crude oil production rates will decline and world oil supply is at risk. Some say peak production is already at hand and the curde oil markets are out of control. The goal of this blog is to provide the most comprehensive and updated platform on the topic of peak oil.

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