The story of the Persian Gulf monarchies is a Horatio Alger tale writ large. Over the past half-century, oil has transformed the six once-destitute sheikhdoms into some of the wealthiest places on earth.

Source: www.foreignaffairs.com

"’In one generation we went from riding camels to riding Cadillacs,’ [king Faisal] wrote. ‘The way we are wasting money, I fear the next generation will be riding camels again.’”

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