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Originally Posted by Thskyscraper
Like a lot of ppl have said the UAE doesn't have as much oil as SA. The main reason is a lower population so they use less money giving people services.
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They pump 2.7 million barrels per day, their extraction cost is about $7
per gallon, $65 per barrel...156 million per day profit, 7 days a week, 365 days a year. That is just the UAE, not the other countries investing their riches. Saudi alone exports 5 or 6 times that, approaching a half/three quarters billion profit EVERY DAY. Add all the others...Persian Gulf outputs 22-24 million barrels a day at similar extraction costs...1.5 billion a day. Every day, all year. WTF do you do with it? Build Palm islands and the tallest building in the world.