why does oil bring wealth to Arabia and Iraq? A.abundance of wells B.low cost of production C.high global demand D.scarcity of water
c i think
The main reasons why oil brings wealth to Arabia and Iraq are:
1. Abundance of wells: Both Arabia and Iraq have vast reserves of oil. They possess some of the largest oil fields in the world, which allows them to extract and produce significant amounts of oil.
2. High global demand: Oil is a crucial commodity that is used globally for various purposes, such as transportation, energy generation, manufacturing, and more. There is a constant high demand for oil worldwide, which creates a lucrative market for oil-producing countries like Arabia and Iraq.
3. Low cost of production: In both Arabia and Iraq, the cost of producing oil is relatively low compared to other parts of the world. This is due to the presence of easily accessible oil reserves and favorable geological conditions, which makes extraction and production economically viable.
While scarcity of water might not directly contribute to the wealth brought by oil, it is worth mentioning that both Arabia and Iraq have faced water scarcity issues in certain regions. This has led them to heavily rely on their oil wealth to invest in advanced water desalination projects and other water resource management solutions.
To know more about the wealth generated through oil in Arabia and Iraq, you can refer to economic reports, industry publications, financial analysis, and news articles that provide insights on the oil industry's impact on these countries' economies.