What will the Middle East economy look like after they run out of oil?

Question

If oil is supposed to run out in 50 years, what will be the next biggest industry there?

Answer 1

They won't run out of oil...why? Because we're going to find other sources of energy. With prices going up and companies exploring alternative options, oil will be less-viable industry in the future. How? due to ethanol and bio-diesel sources. Reseach "flexible-fuel" vehicles...most notable Brazil a couple of months ago announced it has become 100% independent from OPEC oil.
For their economy...of course they will need to diversify (in what markets is anyones guess). You should examine United Arab Emirates(UAE..i included the wiki below) the most successful diversified economy in the Middle East. Right now they're catering to the richest people in the world in the Dubai emirate (by creating 300 man-made islands..see link below).

Answer 2

#1 - They won't "run out" of oil. It will just be more expensive to extract, like the way it is in the U.S.

#2 - The middle east also has plenty of natural gas, which can be used "as is" or converted into diesel oil, gasoline and other products. This is currently being done on a limited basis.

Answer 3

If it does run out in fifty years which ever family is in charge will split with all the cash because they can! Those who can afford the transition to another country will and those who can not will turn to ashes in the sand. The biggest industry will most likely be hour glasses of all shapes and sizes or maybe even global waterfront and beach restoration supply....I know; worlds largest year-round outdoor tanning salon and camel raceway!

Answer 4

I do not see it happening. Now just because some say english invented industry it does not mean at all you are intelectual proprietors of that knowledge.
If other countries lack oil their commerce and industry would resort to gas and barren carbone. After some 40 years someone would develop corn oil and carbon cocque.
In many countries contingencies are not necesary to withstand lack of petroil. In such context, it seems we would turn to selenium carbide isotopes hydroradiated in aspersion of floston to be used as fuel. We liked the 20th century.

Answer 5

The next biggest industry will probably be waste energy bottled exclusively for the US. We need something to keep the trading posts active and the politicians employed.

Answer 6

As it stands now they have very little in the way of production or agriculture so I belive they would have an extreme economic crisis when the oil runs out. Or when we finally get a better power source.

Answer 7

glass / tourism

Answer 8

hourglasses