Question

What are the results of abundance of oil in Arab World?

Answer 1

To mention a few: the development of modern Arab states on the peninsula started mostly in the Thirties of the last century, because of the growing importance and income of oil. Before about 1920-1930, a country like Saudi Arabia was dirt poor, the (literally) barefooted sheiks and their nomadic tribes living from breeding and trading camels and from income from pilgrims going to Mecca and Medina. The abundance of oil and its income have created a way and standard of living and a level of expenditure in many states on the Arab peninsula that can only be maintained as long as oil production and present price levels last. Another factor (and a recipe for possible collapse in the future when the oil income runs out) is that the abundant oil income allows the native Arabs to sit back and largely leave the real and hard work of building and maintaining their economic and physical infrastructure to hired temporary immigrants. The oil income by its abundance has moreover often discouraged incentives to develop other sizable and varied industries that might in time replace oil income. 

Answer 2

the results are-

 devlopment of modern abab states on peninsular started in the last of the ninteenth century because of the growing importance and income of oil.
it created a way and standard of living and a level of expenditure in many states of arabian peninsula, that can only be maintained as long as oil production and present price level lasts.




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