Financial Wealth Ideas

One of the main shortcomings of OPEC is that it brings together countries whose interests are often opposite. Saudi Arabia and other countries of the Arabian peninsula are sparsely populated, but has huge reserves of oil, large investments from abroad and maintain very close relations with Western oil companies. For the other OPEC countries such as Nigeria, is characterized by high population and poverty, they are expensive economic development program and have a huge debt. Second, seemingly simple problem is banal "where to put the money". It is not always easy to properly dispose hlynuvshim country shower of petrodollars. Monarchs and rulers of countries, which struck the wealth, sought to use it "the glory of his own people", and so contrive various "Construction century" and other such projects are not exactly a reasonable investment. Only later, after the first euphoria of happiness, when the zeal to cool down a bit due to falling oil prices and the reduction of state revenues, state budget have been spent more wisely, and competently. Third, the main problem is the compensation of technological backwardness of the leading countries of OPEC countries in the world. Indeed, at the time of the creation of some of the countries that belong to it, have not yet got rid of the remnants of the feudal order! The solution of such problems could be accelerated industrialization and urbanization. The introduction of new technologies in production and, consequently, human life did not pass without leaving a trace for the people. The main stages of industrialization were the nationalization of some foreign companies such as ARAMCO in Saudi Arabia, and the active involvement of private capital in the industry. This was done through the full public assistance to the private sector economy. For example, in the same Arabia was established 6 special banks and foundations that have helped businesses guaranteed by the State. The fourth problem is the lack of qualifications of national staff. The point is that workers in the state were unprepared for the introduction of new technologies and have not been able to maintain up-to-date machines and equipment that were supplied to the oil-producing and processing enterprises, as well as other factories and enterprises. The solution of this problem was to attract foreign talent. It was not as easy as it seems. Because it soon gave rise to a mass of contradictions, which are reinforced with the development of society. Thus, all eleven countries are in great dependence on its oil industry revenues. Perhaps the only countries in OPEC, which represents an exception, this is Indonesia, which receives a substantial income from tourism, timber, gas and other raw materials. For the rest of the level of dependence on OPEC oil exports ranging from the lowest - 48% in the case of the United Arab Emirates to 97% in Nigeria.