Dubai Has No Crude

28 Jan 2013

Dubai is one Emirate that does not have crude oil! The Emirate has also to buy its oil and does so from Iran, unlike its neighbor Abu Dhabi which drills for oil. Now the sanctions against Iran are working against Dubai also, because Tehran offers concessions to its regular customers. Now Dubai has to make its oil imports from Qatar.

This explains why Dubai is fast achieving the status of a modern economy. Since it does not have oil, which is a commodity, the Emirate has to depend upon its own intelligence, economy wise, to be anywhere on the economic horizon.

Dubai’s economy is shining like a star on the horizon with only ruins all round. That is why economic rating agencies every now and then come out with stories of doom for the Emirate, but each time Dubai has defied them and come out with some spectacular show. In 2009, it was Bujr Khalifa and today it has a parallel city coming upon the outskirts. A replica of the Taj Mahal is also on the cards, bigger and better, they say.  

But the latter project is somewhat in cold storage as of today. But the Taj plans are all there at the back of Dubai’s mind. Wah Taj! is perhaps about the tourist potential that the Taj in Agra draws. Dubai apparently leaves no stone unturned in regard to its economy.