The Second Oil Boom: To Avoid Replicating the First Experience

Improving oil prices over the past years reflected positively on the combined oil revenues of Arab oil-exporting States, which, according to estimates, have risen by 39% over the past four years to reach $280 billion in 2005, and $360 billion in 2006.

In this context, estimates suggest that Saudi Arabia is expected to invest nearly $267 billion in 419 developmental projects in five main sectors, namely: construction, petrochemicals, oil and gas, water and energy, and industry by the year 2012.
Dar al-Hayat