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The Beginning Of The Fore Told End (oil Price Decline) - Nairaland / General - Nairaland

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The Beginning Of The Fore Told End (oil Price Decline) by austeenluv(m): 11:25am On Jan 19, 2016
I read news about the uneconomical state of maintaining the oil field and my face got sadder than it was before when I heard the crash down of oil price. As an architect student, I once watched a documentary about the building of the famous 7 star hotel in dubai (burj arab) and heard that the country been an oil rich country would face a run out of oil as there oil would get finished and they had no other source of generating economic income for there country, they basically had no mineral resources apart from sand, rock and water. It was predicted that there oil bum would finish in 2016 and they had no choice than to look for other means to back up there oil revenue should in case there oil runs dried. This inspired them to go into massive tourism, spending extravagantly in building hotels and recreation centres. Today, dubai is at rest and waxing strong economically despite the decline of oil price while Nigeria who would have follow same path as dubai ignorantly did not and now the pang of oil price decline is bitting heart on the nations economic. Is it that our so called leaders intentionly refuse to foresee things like this and act or there ignorance is to blame for blindly observing from other country and learn from them.

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