Today's dangers are different. Saddam is gone. But the Gulf states are threatened by the chaotic politics in Iraq and by the rivalry between America and Iran for influence in the region. In their volatile part of the planet, the sheikhs cannot buy perfect security. But they might consider investing a bit more of their windfall in stabilising Iraq and the broader Middle East, not just in their fabulous pleasure domes.
The Economist published a very interesting report in it’s latest issue on the Gulf economies and the effects of the oil boom. In it a reminder not to lose sight of the environment around us. No matter how unpopular, putting money and effort to insure stability in the region is essential. Without it our own stability would be threatened.