As Oil Hits High, Mideast Buyers Go on a Spree

[sabra]

Source: WSJ

Dubai, Qatar Battle
For Stakes in Bourses;
Political Savvy Grows

As oil prices soar, Middle Eastern governments are exercising their growing clout by making deals around the globe -- with a new political savvy.

Yesterday saw a burst of activity involving Mideast governments, including a battle between two Persian Gulf emirates over stakes in the London Stock Exchange and a bid by one of them for a stake in Nasdaq Stock Market Inc. A third emirate announced an investment in Carlyle Group, a Washington-based private-equity firm known for ties to political heavy hitters such as former President Bush.

The governments of the Persian Gulf -- along with regional powerhouse Saudi Arabia -- have seen their coffers swell to unprecedented size with rising energy prices and a regional economic boom. Yesterday crude oil topped $83 a barrel.

The deals mark a new level of engagement by an emerging group of Arab states whose leaders are generally friendly to the West and are eager to make a mark in global finance. The influence of countries such as Dubai and Qatar has grown even greater in recent months because, thanks to their cash, they are immune to the debt-market troubles that have frozen some other investors.

Read more: http://online.wsj.com/article/SB119033413713434614.html?mod=hps_us_pageone

[CJCRANE]

1. Bush's base...

the haves and the have-billions

[terisan]

2. Russia also oil rich; Looks like the Arabs & Bushes & Russia have won & US has lost. nt

[predfan]

3. this is insanity

we have all the technology at our fingertips to become energy self-sufficient of mideast oil, don't have to invent anything, just have to have a little leadership from Republican or Democrat. I asked my Dem. rep the other day about solar energy and he told me there were more cloudy days than sunny days ..............in Tennessee............on a day it was over 100 degrees. No leadership, in the pocket of the oil companies.

[oneinok]

4. Hmmm

They really do have us over a barrel.

[Javaman]

5. ouch. lol nt

[Javaman]

6. Until they believe gobs and gobs of money can be made off of it...

no change will be forth coming.