Dubai World is entirely dependent on tourist travel to Dubai, and the wealthy tourists and businessmen it hopes to attract will all need to vistit by air.
The problem is, soaring oil prices will keep a natural check on this in the future.
EnergyBulletin.net: The investments that have been made in Dubai are based on prognoses similar to those that the International Energy Agency (IEA) makes every year. In this case what is important is not the latest edition of World Energy Outlook but the prognoses made 5 years ago. In 2004 the IEA considered that oil production in 2030 would be over 120 million barrels per day. The reality that we have now published in Energy Policy in our article The Peak Of The Oil Age is a maximal production of 75 million barrels per day in 2030.
In other words, Dubai’s predictions for oil production (and the amount of fuel avaliable to fly people over) were off by more than a few million barrels per day.
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