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Old 04-06-2018, 06:42 AM
 
Location: Macao
15,484 posts, read 34,164,309 times
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I don't know much about it, but as an expat abroad, I'm seeing more expats coming out of the Middle East, looking for jobs and work in Pacific Asia...

Basically they are concerned that in some of those oil-rich countries, more of the oil is drying up, and they are seeing the writing on the wall.

Opinions, thoughts, etc. from others?
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Old 04-06-2018, 06:47 AM
 
5,443 posts, read 2,214,063 times
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Oil is a finite resource as well as one with adverse environmental consequences. The Arab states have seen the writing on the wall, and Saudi Arabia, Oman, the UAE, and Kuwait have been taking steps to diversify their respective economies and prepare for the post oil world. Recent developments in Saudi Arabia as well as massive development in Oman and the UAE evidence what these countries think the future will hold.

Trump and his administration are like 21st century luddites who refuse to acknowledge where the world is heading. It is heading to renewables. The is the future of energy and the Arabs know it.
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Old 04-06-2018, 06:56 AM
 
Location: western East Roman Empire
6,021 posts, read 9,991,143 times
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Oil is not drying up in the Oil Crescent (Bahrain just recently made a new huge discovery) and oil is not going to disappear soon from the energy mix.

However, oil's value as an energy input has been decreasing and will continue to decrease.

Since the year one, humans argue, bicker and fight when the pie is getting bigger and when the pie is getting smaller and when the pie is staying the same size.

Overall, my impression is that the oil sector continues to grow, or maintain its size, but other sectors and other regions of the world are growing at a faster pace, hence the move to diversify, including the movement that you see of some expats from the relatively stagnant Oil Crescent to the relatively dynamic Pacific Asia.

Can't blame them.

Good Luck!
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Old 04-06-2018, 05:29 PM
 
Location: Washington State
14,595 posts, read 7,595,538 times
Reputation: 12639
Quote:
Originally Posted by Tiger Beer View Post
I don't know much about it, but as an expat abroad, I'm seeing more expats coming out of the Middle East, looking for jobs and work in Pacific Asia...

Basically they are concerned that in some of those oil-rich countries, more of the oil is drying up, and they are seeing the writing on the wall.

Opinions, thoughts, etc. from others?
The reason that is happening is that since the price of oil dropped a few years ago, there is far less money in the Middle East to develop new projects and there were so many people drawn to work in the Middle East by high salaries when the prices were higher.

No, the oil is not drying up in the Middle East. The poster than said oil will continue but is on a down trajectory as a % of energy is correct. That fact as well as the US fracking when the prices escalate are keeping a lid on prices for oil and so no one if we'll see these levels of prices and money in the Middle East again.
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Old 04-06-2018, 06:43 PM
 
1,955 posts, read 646,648 times
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Quote:
Originally Posted by Tall Traveler View Post
The reason that is happening is that since the price of oil dropped a few years ago, there is far less money in the Middle East to develop new projects and there were so many people drawn to work in the Middle East by high salaries when the prices were higher.

No, the oil is not drying up in the Middle East. The poster than said oil will continue but is on a down trajectory as a % of energy is correct. That fact as well as the US fracking when the prices escalate are keeping a lid on prices for oil and so no one if we'll see these levels of prices and money in the Middle East again.
The absence of any income tax in some of them is another why.
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Old 04-06-2018, 06:45 PM
 
Location: New York Area
12,922 posts, read 4,900,733 times
Reputation: 10392
Quote:
Originally Posted by TreeBeard View Post
Oil is a finite resource as well as one with adverse environmental consequences. The Arab states have seen the writing on the wall, and Saudi Arabia, Oman, the UAE, and Kuwait have been taking steps to diversify their respective economies and prepare for the post oil world. Recent developments in Saudi Arabia as well as massive development in Oman and the UAE evidence what these countries think the future will hold.

Trump and his administration are like 21st century luddites who refuse to acknowledge where the world is heading. It is heading to renewables. The is the future of energy and the Arabs know it.
There would be no need for subsidies if renewable sources such as wind and solar were viable. And Saudi Arabia, Oman, the UAE, and Kuwait will have no luck diversifying their economy until intellectual curiosity doesn't result in death.
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Old 04-06-2018, 06:48 PM
 
Location: Washington State
14,595 posts, read 7,595,538 times
Reputation: 12639
Quote:
Originally Posted by Milky Way Resident View Post
The absence of any income tax in some of them is another why.
It is however, as an American now working in Kuwait, I still have to pay taxes in the USA (though we get an exemption up to a point) while virtually no one else here pays taxes. So less of a benefit for me and my fellow Americans.

It's actually the high salaries combined with the tax benefits that make it so attractive for people say from UK to work here.
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