Dubai — Oil by Proximity
November 29, 2009 5 min. read

The banks thst lent about $40 billion to the state-owned corporation Dubai World must have figured, “Okay Dubai doesn’t have oil, but it’s part of a larger oil country (United Arab Emirates), and it’s in an oil region, and so they’re good for the money.” Apparently, no one thought that an enterprise based on ridiculously over-priced real […]

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