Posted by Robin on Tuesday, January 22, 2008 at 1:57pm.
Arabia produces much of the world's oil; in Saudi Arabia, oil profits are a large part if the economy. Check these sites for details.
https://www.cia.gov/library/publications/the-world-factbook/geos/sa.html#Econ
http://www.country-studies.com/saudi-arabia/oil-industry.html
i understand but other websites dont tell me a lot about WHY it is important.
Because it's there.
Because they have so much of it, and other countries (US included) consume so much. The higher the demand, the higher the prices that can be charged.
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