But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: and the Libyans and the Ethiopians shall be at his steps. <\/i><\/p>\n
\u2014Daniel 11:43<\/i><\/p>\n
258<\/b> The World Of Oil<\/b><\/p>\n
The Arab world occupies 8% of the globe, yet possesses nearly two-thirds of the world\u2019s total known supply of oil. The world\u2019s proven oil reserves are given as follows:<\/p>\n
Western Europe 10.3 billion bbl.<\/p>\n
Africa 15.3 billion bbl.<\/p>\n
Southeast Asia 14.0 billion bbl.<\/p>\n
South America 25.5 billion bbl.<\/p>\n
North America 47.2 billion bbl.<\/p>\n
Communist World 54.9 billion bbl.<\/p>\n
ARAB WORLD 390.0 billion bbl.<\/p>\n
259<\/b> Galloping Oil Prices<\/b><\/p>\n
In 10 years, OPEC oil price rose over 2,300%, as follows:<\/p>\n
Nov., 1970 $1.30<\/p>\n
Oct., 1973 2.10<\/p>\n
Nov., 1973 3.65<\/p>\n
Jan., 1974 9.34<\/p>\n
Oct., 1974 9.84<\/p>\n
Nov., 1974 10.34<\/p>\n
Sept.,1975 11.29<\/p>\n
1976 12.00<\/p>\n
1977 13.00<\/p>\n
1978 13.50<\/p>\n
1979 18.00<\/p>\n
1980 30.00<\/p>\n
260<\/b> Income And Surplus<\/b><\/p>\n
Members of the Organization of Petroleum Exporting Countries recorded a financial surplus of $120 billion in 1980. Total income was over $200 billion. This compared to total profits of all US corporations of $110 billion per year.<\/p>\n
The OPEC surplus will result in about $70 billion in deficits in industrial nations, and about $50 billion in underdeveloped countries. About 30% of the industrial world\u2019s deficit will be absorbed by Japan and Germany.<\/p>\n
The OPEC surpluses are likely to climb year by year, and could cause financial difficulties if the rest of the world fails to adjust to them through measures to reduce dependence on foreign oil.<\/p>\n
261<\/b> Buying The United States<\/b><\/p>\n
To illustrate the enormous amount of buying power being transferred to the 13 members of the Organization of Petroleum Exporting Countries (OPEC), here are some examples of what just one year\u2019s oil revenue, $200 billion, could buy or finance in the U.S.\u2014<\/p>\n
\u2014The entire U. S. farm crop<\/p>\n
\u2014All the stocks in the 30 biggest industrial corporations<\/p>\n
\u2014All the steel produced in U. S. for 4\u00bd years<\/p>\n
\u2014All the cars and trucks produced for 3\u00bd years<\/p>\n
\u201410,000 F-5 fighter aircraft<\/p>\n
\u20143,200,000 private houses<\/p>\n
\u2014One fourth of the total U. S. Government debt<\/p>\n
\u2014Nearly all debt of local governments<\/p>\n
\u2014New York State\u2019s budget for 13 years<\/p>\n
\u2014All plant and equipment outlays for a year<\/p>\n
262<\/b> Life In Kuwait<\/b><\/p>\n
Kuwait now levies no taxes, gives free health and medical care, and provides free education to all, the higher education to be received by those who show promise in any university in Europe or in the United States. The state spends $1,500 a year on the education of every child. And it is so rich that it has enough left to bankroll various Arab causes in hundreds of millions of dollars.<\/p>\n
263<\/b> Saudi Arabian Wealth<\/b><\/p>\n
Saudi Arabia sits atop the world\u2019s biggest oil deposit\u2014about 1\/5 of the world\u2019s known deposit. Before the 1930s, this country was better known to the world only for her two holy cities: Mecca and Medina, where thousands of Muslims from all over the world come on pilgrimages. Now it is a powerful nation of 7 million people, with oil income of $30 billion a year. Its cash reserve is second in the world only to West Germany.<\/p>\n
The Saudi Arabian government has earmarked $140 billion for its unprecedented 5-year development projects.<\/p>\n
264<\/b> Arab As \u201cMan Of The Year\u201d<\/b><\/p>\n
Time magazine selected King Faisal of Saudi Arabia as its 1974 \u201cMan of the Year.\u201d The magazine said the king was a \u201cprincipal factor\u201d in world-wide changes that year.<\/p>\n
\u201cThroughout 1974,\u201d said Time, \u201cFaisal\u2019s actions about oil prices and related matters touched, in various degrees, the lives and pocketbooks of virtually every human being on earth.<\/p>\n
\u201cPolitically, too, 1974 was marked by the increasing cohesion and power of the Arab world, a surging strength fueled by the largest transfer of wealth in history. In all this, the shrewd and dedicated king played a key role.\u201d<\/p>\n
The magazine concluded that the big upturn in the price of oil helped make 1974 \u201ca pivotal year that saw the decline of old powers, old alliances, old philosophies, and the rise of new ones.\u201d<\/p>\n
265<\/b> The Carter Doctrine<\/b><\/p>\n
In his 1980 State of the Union address, US Pres. Jimmy Carter strongly came out for US protection of the Middle East oil fields, declaring: \u201cAn attempt by any outside force to gain control of the Persian Gulf region will be regarded as an assault on the vital interests of the United States of America. And such an assault will be repelled by any means necessary, including military force.\u201d<\/p>\n
This so-called Carter Doctrine proved necessary in view of the Soviet invasion of Afghanistan and a politically unstable Iran, as well as the explosive situation in several Middle Eastern countries.<\/p>\n
The strategic importance of the Persian Gulf may be seen in the fact that 70% of the western world\u2019s oil needs originate from that area. Daily, some 60 oil tankers transit the Gulf, bringing crude oil to the rest of the world.<\/p>\n
266<\/b> World Arab Population<\/b><\/p>\n
There were 1,200,000 Arabs in Palestine in 1947. Today there are 2.8 million Arab Palestinians. Four out of five are living in the original territory of Mandate Palestine. The majority of the rest live in other Arab countries. About 590,000 fled during the recent Mideast fightings, leaving 160,000 who are living in Israeli-occupied lands.<\/p>\n","protected":false},"excerpt":{"rendered":"
But he shall have power over the treasures of gold and of silver, and over all the precious things of Egypt: and the Libyans and the Ethiopians shall be at his steps. \u2014Daniel 11:43 258 The World Of Oil The Arab world occupies 8% of the globe, yet possesses nearly two-thirds of the world\u2019s total … Continue reading “ARAB WEALTH”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4907","post","type-post","status-publish","format-standard","hentry","category-sermons"],"_links":{"self":[{"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/posts\/4907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/comments?post=4907"}],"version-history":[{"count":0,"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/posts\/4907\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/media?parent=4907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/categories?post=4907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biblia.work\/sermons\/wp-json\/wp\/v2\/tags?post=4907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}