The Bus Running on Arab Oil Money
Where Arab Oil Money Is Going
Did the U.S. Plan on Seizing Arab Oil Fields?
Days of Rage on the Arab street
On Money
Why Is the Arab Media Silent on the Uighurs?
Here's where Arab oil money is being spent, nay, wasted.
It was not until 2003 that a member of the Saudi royal family publicly acknowledged that the kingdom has poor people. And why would they dare notice? The Saudi royals are too busy leading supercilious lives of extreme decadence and indulgence with ill-gotten oil money. May that oil be cursed. The late Palestinian poet Mahmoud Darwish once wrote that the Arabs' state would be better without oil. And so true. It has corrupted the Arabs, allowed for renter-states and provided the basis of rule for awful regimes. And because Saudi Arabia sits on the largest reserve of oil wealth, a lot of money has gone to promote the Saudi state doctrine of Wahhabi - an extreme interpretation and practice of Islam invented by a kook, Mohammed Ibn Abd-Wahah, in the 1700s.
The Saudi royals siphon obscene amounts of oil while 30% of the Saudi population lives in poverty. One of the liberal members of the Saudi royal family - billionaire investor Prince Bin Talal - told the New York Times that roughly 30-40% of all Saudi oil revenue it devoted to the royal family's expenditures and that every Saudi prince - and there are thousands - receive $100,000 for every year since their birth. So nearly $2million by the time they are 18. The above figure of 30-40% is relative to the prince of oil, which at that time was roughly $20. So when oil is above $100, the Saudi royal family - in theory - may need only, say, 6-8% of oil revenues to satisfy their appetite. In theory that it.
And where is that money going? Yachts on the French Rivera, homes in Cannes, endless nights in London clubs and brothels, and shopping trips to Paris. An utter waste. They spend so much money overseas that Spain and Morocco compete as to where the members of the royal family will spend their summers (maintaining homes in both nations), because wherever they go they spend lavishly in the local economy and bring a massive entourage. But never accuse them of being tasteless:
A Saudi businessman has purchased what is being described by the Canadian seller as the world's most expensive adult novelty item -- a solid 18-carat gold penis enlarger worth nearly 50,000 dollars.
The Saudi businessman is probably also a royal or at least married to one, since royal status will open door to lucrative business contracts. Hence "businessman".
Prince Sultan Bin Fahd
This Saudi Prince does not like to fly, so he ordered a special bus for his travel
