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Social Studies

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why is oil so important to the
countries of the arabian peninsula?

  • Social Studies - ,

    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

  • Social Studies - ,

    i understand but other websites don't tell me a lot about WHY it is important.

  • Social Studies - ,

    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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