What will happen when the Gulf countries’ oil runs out? – Inside Story

41
22

The International Monetary Fund has some advice for countries in the Gulf: Diversify, and diversify fast. The oil, that’s made many Gulf countries extremely wealthy, is not going to last forever. And the IMF’s 2017 report is predicting the worst growth rate for the region since the global financial collapse several years ago.

Economies in the region have been suffering since oil prices fell dramatically in 2014. Attempts to curb oil production have only slightly raised revenue. And the Gulf Cooperation Council diplomatic crisis that began in June has only made the situation worse.

The IMF says Qatar and its blockading neighbours could have trouble finding investors if the crisis continues.

So what are the alternatives?

Presenter: Jane Dutton

Guests:

Jane Kinninmont, Deputy Head and Senior Research Fellow at the Middle East and North Africa Programme at Chatham House

Cornelia Meyer, oil-and-gas specialist

Khaled Al Khater, Specialist in Monetary Policy and Political Economy

– Subscribe to our channel: http://aje.io/AJSubscribe
– Follow us on Twitter: https://twitter.com/AJEnglish
– Find us on Facebook: https://www.facebook.com/aljazeera
– Check our website: http://www.aljazeera.com/

source

41 COMMENTS

  1. It is the sixth chapter of Islamic history and the early generations of the past, there is no atmosphere of misunderstandings, but there are people who try and make sure they are always on the right side but now you see a country or a family or a family at any time love is a mistake, and it is caused by a lack of skepticism, but it is always a pleasure to follow the person or people who are on the right path or that is wrong or not harming anyone else without knowing it or making a mistake without me inappropriate life and culture by abdiweli ali coal nairobi kenya 3;17pm

  2. If the Gulf Arabs are clever or have a bean size of the brain, they will divert oil into energy to the 2nd or 3rd world countries Power generation, other industries, transportation and they will never think back about the oil price or any shortage. Leave the investment in the developed countries and try to develop the developing countries and they will appreciate as well. Last but not least do not invest on the WARs or never listen to anyone who tells you fake war on terror, just try to finish your internal problems (between Iran and Saudi) and live with the harmony which is a dream but not impossible.

  3. How in the world do u trust IMF O WB they r the wort advisor u can ever trust.
    Is just the are trying to make those. Juhals to get loans from WB so they can bankrupt the oil nations.

  4. what a sensitive subject! what a fail to approach it, the fact that labor workers are the fundamental stone of any building. you never build a hose from the top! otherwise you can build a tent from any side, but it will not last the second storm…
    pathetic the guy can’t , not allowed to answer, and the ladies push the bell without knowing the culture and habits.

  5. Nothing will bee happen, they life is not depend in the oil all human life in the hand of God. They could face a big challenge if God would want too challenge but It didn't. There are countries who don't have oil or many natural resource but they are still living. Every thing is in the hand of God period.

  6. oil was suppose to run out in 1982, remember mad max? yeah, we were lied to about the scarcity of oil and gas. no surprise,, Al Jazeera is a horrible news source controlled by the Pentagon

  7. Diversify? lol, more like incite and enslave neighboring states. Explains why there is such a fierce war in Yemen, and a full scale blockade on Quatar. Saudi Arabia will systematically invade and subjugate neighboring states to keep their coke bowls and stripper shows full.

  8. These Arabs can truly be annoyingly dumb!, they each nearly house classy car manufacturing industries with in there country's and non of them want to invest or specialise in hybrid or diesel facotry's!? wonder?? not Posh enough?? please Arabia get a clue :/

  9. Qataris will immigrate to India, Srilanka, Bangladesh, Pakistan and Nepal looking for cheap labor. Your demise is certain. All your wealth, golden toilet and supercars will vanish. So enjoy while it lasts.

  10. Agriculture in the middle east has traditionally not been seen as lucrative but maybe with the advent of modern technologies which can desalinate sea water, maybe the middle east and the people could look forward to it, if desalination could be undertaken on a very large scale and if technologies could be developed further to tailor the needs of the region.

  11. Arabs will do well ..every country is facing crisis today ..let us hope everyone find a common ground in this globalised world…and those who are here to comment negative about future prospect of a respectable sovereign countries in middle east , grow up!!

  12. HA, they have squandered their very temporary & finite wealth on corruption, warmongering, & conspicuous degeneracy. Most will die because they lack the skills to return to the sand. But those who are able to transition back to prehistoric conditions will rave about their past great achievements, a tortured truth.

  13. GCC countries have to take the road the Turkish president Erdogan took which is building many industries that produce different kinds of goods then their economy will survive after the oil runout.

LEAVE A REPLY

Please enter your comment!
Please enter your name here