Title: Persian Gulf States Snapping Up Overseas Assets
Category: Other
Blog Entry: The high oil price is filling the coffers of Persian Gulf states. They are using the cash to buy strategic overseas assets. The investments so far include 7.5 per cent of Carlyle Group, the world's second-biggest private equity firm. Dubai and Qatar took competing stakes in the Nasdaq stockmarket, London Stock Exchange and Nordic bourse OMX.
As consuming nations such as the U.S. pay more for oil, these nations will continue to own more of our assets. Why these nations are Western friendly, we should take steps to lower oil consumption and look for alternative energy. We do not want to mortgage away our future on cheap oil.
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