What will arabs do when oil runs out?

[The alchemist]

When I say “we”....I meant the entire world as a whole.

The United States has more oil now than it did in 1990, yet these goofs want to keep claiming that we’re “running out of oil”.

These are the same Malthusian goofs who also previously claimed in the 1970’s that we are running out of water and food. It’s always the same propaganda with these folks

Current techonly and more effective reflection seismology has made us better and finding oil at a faster rate. But the problem still stands. The world has 53.3 years of oil left at the current rate of production, according to BP's annual statistical review of world energy. Just 53 years! From the report: Total world proved oil reserves reached 1687.9 billion barrels at the end of 2013, sufficient to meet 53.3 years of global production. Even though some countries will have more oil exeeding that time, we still don't have enough to supply our machinery globally.

 

[The alchemist]

For the longest i've wondered why everyone said this to insult arrogant arabs but only in the past 3 years did i realise that most arab countries managed their oil profits in a poor manner. Not only have they had more than 30 yrs to build an economy like Norway did when they cleverly invested their oil profits to diversify their economy, but it seems that even now they still lack the mental capacity to swiftly move over from their dependence on oil to a more sustainable fuel and energy source.

Are Arabs really that stupid? what will happen to them when their oil profits stop rolling in?

UAE are making big moves to diversify their industries. But the country that have the biggest issue with this, is Saudi arabia. Their economy is going to implode if they don't do something drastic about it.