Jim_Krane]_Energy_Kingdoms__Oil_and_Political_Sur

46THE BIG PAYBACK sights were set not just on Israel but on the countries that were offering support— most notably the United S ...

THE BIG PAYBACK47 and Syria’s Hafez al- Assad to back their attempts to reclaim territory Israel had seized six years earlier.^ ...

48THE BIG PAYBACK The nationalizations had been timed perfectly. It was the producer countries, rather than the Western IOCs, t ...

THE BIG PAYBACK49 The change was breathtaking. Saudi revenues jumped forty- fold between 1965 and 1975, from $655 million to $2 ...

50THE BIG PAYBACK The postnationalization era wound up modernizing the Gulf ’s econ- omies while keeping intact the region’s pe ...

THE BIG PAYBACK51 They were earning daily rents of $400 million on costs of $8 million. And this despite the fact that the crud ...

4. From Energy Poverty to Energy Extremism I n 1970, the American space program completed its seventh manned mission, and the So ...

FROM ENERGY POVERTY TO ENERGY EXTREMISM 53 Life expectancy was an appalling forty- nine years. Oman only had two hospitals and ...

54FROM ENERGY POVERTY TO ENERGY EXTREMISM Omanis would be yanked into the modern age perhaps more quickly than any population o ...

FROM ENERGY POVERTY TO ENERGY EXTREMISM 55 modernization and maintain traditional rule. He was infamous for his distrust of ban ...

56FROM ENERGY POVERTY TO ENERGY EXTREMISM Sultan Qaboos, Sheikh Zayed quickly embarked upon building a mod- ern state, shifting ...

FROM ENERGY POVERTY TO ENERGY EXTREMISM 57 TAXES, RENTS, AND THE ROOTS OF SUBSIDIES Throughout the Gulf monarchies, the 1973 oi ...

TABLE 4.1 Energy subsidies in major energy exporters in 2015, ranked on per capita basis Oil (US$bn) Gas (US$bn) Coal (US$bn) El ...

FROM ENERGY POVERTY TO ENERGY EXTREMISM 59 Subsidies for energy were partly spurred by the economic transfor- mation that was u ...

60FROM ENERGY POVERTY TO ENERGY EXTREMISM Once again, importing countries scrambled to unwind their oil dependence, and unprece ...

FROM ENERGY POVERTY TO ENERGY EXTREMISM 61 Another theory, the one many still use to understand the region today, focused on th ...

62FROM ENERGY POVERTY TO ENERGY EXTREMISM roads, and modern medicine. They were better educated, healthier, and wealthier. Who ...

5. Unnaturally Cool T he story until now has been inspirational: a Horatio Alger tale of rags to riches on a regional scale and ...

64UNNATURALLY COOL In Dubai, I met with Mohammed Alabbar, one of twelve children raised by illiterate parents in a palm- thatch ...

UNNATURALLY COOL65 electric pumps must push desalinated water nearly a kilometer into the sky to refill the tank. The story of ...