impian hatiku

WHAT do we have except oil? This is a serious question, which I did not invent. This question worries many people, yet it remains unanswered. The deepening oil crisis has increased people’s worries and leads us to ask what alternative sources of income we have. We all know that oil comprises 85 percent of the Kingdom’s GDP. Oil is getting expensive, something that is leading to an increase in prices of other commodities. Most of the money generated from oil has been spent fighting inflation. However, we are led to ask where the money left over is spent. It is unclear where the surplus cash is invested. The world fears energy sources may run out, something that is driving up the price of oil. Prices will continue to increase unless new oil fields are discovered. The finding of a new oil field would ease people’s fear; however, there have been no major discoveries in recent years. If we look at our financial position as a country, we would realize that our major source of revenue is oil. Even our other sources of income, such as gas and petrochemicals, are energy-related. What other sources of revenue do we have apart from oil? Have we prepared for the future when there will be no more oil to pump? The Energy Information Administration, which works under the US Department of Energy, said that the oil income of OPEC countries would reach $980 billion in 2008 (SR3.675 trillion) — a 45 percent increase from 2007. The Kingdom’s share of this is estimated to be at around $194 billion (SR728 billion). These are huge numbers; however, where will the surplus income be invested? I fear that most of the money will be spent inappropriately. There will hardly be any proper investments. Norway has an investment fund totaling $341 billion, which is $35,000 per capita. The Abu Dhabi Investment Authority has assets as high as $875 billion, Qatar has $450 billion, Dubai has $650 billion and Kuwait has $250 billion. When we know what we have and what we have prepared for the future in terms of alternative sources of income, then we understand what we should do in the face of an increase in population and other political and economic challenges.