Energy Resources in the Gulf Cooperation Council Countries Essay

Energy Resources in the Gulf Cooperation Council Countries - Essay Example Saudi Arabia exists as the largest state among the GCC countries with the Shi’i population placed on the oil producing gulf coast of eastern province. The discovery of oil dates back to 1930s with its commercial production beginning shortly after the Second World War. Saudi Arabia became the largest producer of oil by 1993. Similarly, Kuwait became an oil producer ever since 1946 before gaining its independence from Britain in 1961. The country received independence before massive revenues from oil could be concentrated on the hands of the ruling family possessing overwhelming power. As well, cohesion and the historical organization of unique merchant families had significant contributions. Bahrain emerged as the first oil producing country among the six GCC countries with initial production occurring in 1932. The oil wealth possessed by Bahrain from the beginning gave it a head start to develop social and educational institutions. As a result, this contributed significantly t o its status as the best socially liberal over its neighbors in the GCC countries. However, Bahrain’s current oil reserves remain almost exhausted. By contrast, tourism and finance service industries play the main role in Bahrain’s present day economy (Gause 5-8). Abu Dhabi, Fujayra, Dubai, Ajman, Ra’s al-Khayma, ’Um al-Qaywayn and Sharjah constitute the seven emirates making up the federation of the UAE. Large production of oil began in the 1960s within the UAE mainly in Dubai, Abu Dhabi and Shaarjah. UAE’s per capita national income remains among the highest worldwide. Most notable would be Dubai which continues to develop into a regional communications, services and business center.