Oil: wellspring of change. The Middle East today: unprecedented development

Journal Article · · Chevron World; (United States)

OSTI ID:6672405

Myer, A J ^[1]; Stauffer, T

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1. Harvard Univ., Cambridge, MA

The more than $200 billion transferred to Middle East economies in recent years is the largest income transfer in history. The effect has been an unprecedented increase in the rate of economic development of the area and impact on international money markets. Industrial investments favor diversification into oil refining and other kinds of exports. Oil revenues have improved the quality of life as urbanization has brought better health care, educational, job training, and other services. Infrastructure improvements, an influx of skilled foreign workers, and potential rangeland for livestock are all having an effect. 9 figures. (DCK)

• OSTI ID: 6672405
• Journal Information: Chevron World; (United States), Journal Name: Chevron World; (United States); ISSN CHWOD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
ECONOMIC DEVELOPMENT
ECONOMIC IMPACT
INCOME
INDUSTRY
MIDDLE EAST
PETROLEUM INDUSTRY
QUALITY OF LIFE
SOCIAL IMPACT