High oil prices are good...

HOBO · Jul 22, 2007

..for some.

While in some parts of the globe, people might be freaking about sub-prime mortgage defaults and freefalling currency: Elsewhere life is good. How many cranes can you count on this picture alone?

http://www.burjdubaiskyscraper.com/2007/07July/wtb-burj-0803.jpg

Today, Burj Dubai became the world's tallest skyscraper!
http://www.burjdubaiskyscraper.com/index.html

The Kin2 · Jul 23, 2007

Dubai's economy is actually based on foreign-direct investment. Oil is only about 15% of GDP.

The Kin2 · Jul 23, 2007

It's amazing what no taxes whatsoever and super cheap labor can do, eh?

The Kin2 · Jul 23, 2007

Quote from The Kin2:

Dubai's economy is actually based on foreign-direct investment. Oil is only about 15% of GDP.

Less than 3% according to wikipedia. Damn, who knew.

harkm · Jul 23, 2007

Quote from The Kin2:

Dubai's economy is actually based on foreign-direct investment. Oil is only about 15% of GDP.

The question is is the 'foreign-direct investment' coming from oil producing nations?