http://news.yahoo.com/s/afp/20080621/bs_af...ue_080621092753

Gulf to earn $1.3 trillion from oil in two years: report

KUWAIT CITY (AFP) - The oil-rich Gulf Cooperation Council (GCC) states are projected to earn close to 1.3 trillion dollars in oil revenue in 2008 and 2009, a Kuwaiti economic report said on Saturday.

The six-nation alliance -- Bahrain, Kuwait, Oman, Qatar, United Arab Emirates and Saudi Arabia -- earned 364 billion dollars from oil in 2007, the Al-Shall Economic Consultants said in its weekly report.

The GCC oil revenues are projected to reach 636 billion dollars in 2008 and 657 billion dollars in 2009, Al-Shall said.

Oil powerhouse Saudi Arabia's earnings in the two years will be just under 700 billion dollars. The kingdom posted 194 billion dollars in oil revenues in 2007.

The six states, which boast just less than half of the world's crude proven reserves, produce around 16 million barrels per day, or just under one-fifth of the world's consumption.

The Arabs are already filthy rich and will only be getting richer... We worry about the US boycotting us etc. Pakistan should seize the opportunity and attract Arab wealth through investment projects.

Pakistan has been extremely inept at trying to get some of that wealth. India is all over the Gulf with its companies and labor. Its is astonishing how RETARTED our governments have been these past 30 years.

Yet we claim to have cordial relations with the Arabs and are unable to capitalize. Just crazy...

We often go on about how stupid it is that the arabs are not producing mega industry and mega militaries using these funds.

I ask, how stupid are we that we are not attracting mega investment from them?

There's so much possible if the Arab's seriously started investing in Pakistan. The Arabs won't be as sensitive about the security situation as Western countries. They'll be more understanding of the situation. This has been demonstrated during Musharraf's rule when Arabs invested in all sorts of sectors. There's only a win-win for both sides. All economic woes of Pakistan will be the past. Another massive failure on the part of our government(s).

If this Thing(http://pakistanidefenceforum.com//index.php?showtopic=76547) starts then the price of oil could get down in 15 years(if oil is left till then).These gulf countries can then go back to their beduoin lives.

We call our relations with the Arabs and Chinese as brotherly, but we have been absolutely dismal in forming strong economic relations with our 'brothers'. In fact it was Pakistan that was around to support these two future global players when they were nothing more than backwater 3rd world entities...yet they have surpassed us in every way. IMO strong relations with GCC & SCO as well as full realization of our own potential - i.e. in agriculture, energy and manufacturing - would solve a lot of our economic problems. We should still pursue good economic relations with the West and Pacifics (Australia, Japan, South Korea, etc).

The Gulf states have already started to prepare for the future like it or not. Just ask SaudiArabian or look up the stuff online if you don't believe me dude.

As far as Pakistan is concerned it too little too late but for the Arab countrys its great news they are using this wealth for the right reasons building new citys and making good industrial centres for non-oil export trade.

I hope GCC and Saudi can make centre of excellence in education with this money because that is what is going to help them in the long term.

China and oil rich countrys should make a economic alliance to trade and investment which should rival the US and the EU it is possible considering the extremly high potential on both sides.

We need to tilt the balance to the East and I can see the future progress and prosperity coming from there and China is going to spearhead the economic attack.

Thanks to the cartel of Western leaders, Jews, and Arab Sheikhs we are stuck with a technology that should have become obselete in early 1900s!! And thanks to these people for suppressing every cheap energy technologies and silencing great technological minds. These humans of lowest possible mentality have destroyed the ecology of this beautiful planet for their lust and greed for more money!!! Believe it or not if we decide today--we have the technology to produce unlimited, free, green energy to run this entire planet!!!

To add to that, no new refineries have been built since the 1970s here in the US. No matter how much oil is pumped out, you won't be able to make the price go down if you can't refine it...