Black Gold Finances the Dreams for Abu Dhabi

All Things Considered, November 15, 2007 · One of the countries winning big from record-high oil prices is the United Arab Emirates. --- This federation of seven small sheikdoms in the Persian Gulf only became an independent state in 1971. --- Thanks to its oil wealth, it has transformed itself from an undeveloped backwater into one of the world's fastest-growing economies. --- Today, the United Arab Emirates exports more than 2 million barrels of crude oil a day — and sits on top of vast deposits of both oil and natural gas.