Arab Nations Without Oil

[SexayMistahBee]

What would happen to the Arab nations if all their oil wells were depleted, and why?
Please share your thoughts on this topic. Let's see how much Sythe users know

 

[mtn dew]

They have no way of really cultivating their own food since most of it comes from other countries. Oil is what helps their economy, without it, they could be screwed.

 

[Angelmax]

They could actually be better off.

Resource curse

The resource curse (Paradox of Plenty) refers to the paradox that countries and regions with an abundance of natural resources, specifically point-source non-renewable resources like minerals and fuels, tend to have less economic growth and worse development outcomes than countries with fewer natural resources. This is hypothesized to happen for many different reasons, including a decline in the competitiveness of other economic sectors (caused by appreciation of the real exchange rate as resource revenues enter an economy), volatility of revenues from the natural resource sector due to exposure to global commodity market swings, government mismanagement of resources, or weak, ineffectual, unstable or corrupt institutions (possibly due to the easily diverted actual or anticipated revenue stream from extractive activities).

http://en.wikipedia.org/wiki/Resource_curse

 

[bambino_91]

first not all arab nations have oil and you can see them doing well like lebanon for example
all gulf countries have oil without it they will be still living in tents

 

[The Don Kiluminati]

Saudi Arabia would be fine, they get billions from the daily pilgrims that go to Mecca each year.

Countries like Dubai/Qatar would be ok, they have a good tourist attraction business.

 

[Noam]

Saudi would not be all right, because the are still a pretty populous country w/ a big government.

However, My guess is something along the lines of the Gaza strip / Palestine without Israeli Aid + mabye saving money on explosives could be a good idea for Gaza