In the Race

What's wrong with the U.A.E. re-investing petro-dollars into American corporations and real estate?  I have no problem with Arab countries (or any other countries for that matter), injecting money into our troubled financial sector or purchasing real estate such as the Chrystler building in NY.  The re-investment of petro-dollars should be welcomed as a sign that the American economy is still considered a great place to invest.

Furthermore, we should be supportive of Arab countries who have chosen to use oil profits to improve their own people's standard of living.    

Regarding your first paragraph…

I don’t have a problem with Dubai investing in the U.S.  I don’t have a problem with any foreign investors.  I realize we have them and require them for our economy.  Dubai is nothing new – and they go for real estate…but they invest elsewhere in the market too.  Real estate is the easiest because of Islamic law and what they are allowed to invest in.  The only issue with foreign investment on our end is probably National Security.   I only mentioned the Chrysler as part of my story because it was current.

I’m sure there are people who question their motives.  And, if you read the comments on the New York Post’s page, there are some pretty obnoxious people who, post 9-11, just wouldn’t accept any explanation for their investments.  

Regarding your second paragraph, I say whatever.  I say brava….They aren’t turning the money back to the government...They share the wealth.  Such a lovely part of the world (when they aren’t suppressing their women).  Oh yes…they are friends of ours.  They like to drive the oil prices very high for their “friends” while they share their wealth with their people.

I remember a close relative of mine who was dropped over there in August of 1990 and spent a month dug out in a sand hole as we protected that area to make sure Saddam didn’t invade….

I think they are greedy…Be supportive?  What, you want me to go on vacation there?  What’s there to be supportive of?  They are doing just fine by themselves…especially now,.  Bush just paid a visit to the area and asked for help … and we got snubbed.

"They like to drive the oil prices very high for their “friends” while they share their wealth with their people."

Your statment seems to assume that OPEC nations are responsible for the surge in crude oil and gas prices this year.  Believe it or not, most of our Arab "friends" have increased oil production by millions of barrels per day over the last decade while our country continues to cut production.  Explain to me how that's Dubai's fault?  

"I think they are greedy.."  HA!  So if you had a few billions barrels of crude pooling under your house right now, you wouldn't be pumping it out as fast as you can at $135/barrel?  Janet, sorry but they learned capitalism from the best.  Us.  

I never said that you should to take the kids over to Dubai or anything, I simply stated that we should be supportive of Arab countries who choose to re-invest oil revenues into their people and country.  Not many do.

"Bush just paid a visit to the area and asked for help … and we got snubbed."

That's becuase President Bush is a lame duck with no political leverage or public support to speak of.  The Arabs can run out the clock and deal with the next guy in 2009.  Besides, the Arabs have very little control over the current situation anyway.    

As for

Don't know why you were  cut off..I guess writing about Bush being a lame duck president made you press the enter key too early.

Believe me, I realize Arabs have increased oil production while our country has cut..and won't even allow drilling in other places.  And, of course, that's not Dubai's fault...

We've gotten into this discussion before, Josh.  They can gouge us and eventually, maybe not now, but eventually, they'll pay for it.  And yes, they are greedy.  Maybe that's because that's the only type of power they have...oil/money.  Right now I worry more about being supportive of our own country.

This blog wasn't as deep as you are making it...but if you want to take it that way, so be it.  I realize you are schooled in economics and I am not.

I agree, I'm probably making this blog more deep than it should be.  I just think that, in general, blaming the Arabs has become a common theme among Americans whenever gas prices start going up.  It's much easier to blame the Middle East for problems we are responsible for creating on our own.  If Arab nations are greedy than it's our own fault that we have given them the economic leverage to be that way.  

"Maybe that's because that's the only type of power they have...oil/money."

Janet, oil and money ARE power.    

Josh,

As I stated, "that's the only type of power they have...oil/money"  I know oil and money are power...of course.  

So...right now they have us by the bal..well, actually oil barrels...but we still have the power.  We are still the all powerful, and they know it.  

Back in June I blogged about vacationing in Dubai and their real estate dealings. Dubai prides itself