By Kevin Stoda
In contrast to the USA in 2008, Kuwaiti investors and government appear to have a magnificently positive attitude towards investment.
This past February 2008, the government and Kuwaiti investors reported the opening of the largest investment project in history—on the border of Iraq—and a short distance from Iran. http://www.arabianbusiness.com/index.php?option=com_content&view=article&id=510413&Itemid=1
This large investment, expected to cost over $77 billion dollars, is taking place even though Kuwait—as a potential future home to migrants from all continents—has many strikes against it.
The project is called, “The City of Silk”. The name is based on the fact that one of the famous ancient silk routes had passed for centuries through the tiny region where present day Iraq and Kuwait are situated.
In February 2008, meteorologists reported that the region of Kuwait was suffering the third driest winter since 1957. Twice in four days Kuwait suffered major dust storms in late February and more storms in March. Usually these storms occur only in late spring or early fall.
Rumors are abound in Kuwait currently that the meteorological community is predicting that summer 2008 may be one of the hottest in memory as well—as little or no spring rain arrives.
Kuwait is already annually number one or number two in the heat index each summer.
In anticipation of Earth Day 2007, scientists in LiveScience.com, Ker Than and Andrea Thompson, had already predicted that between 2008 and 2018 (Kuwait and) the world will have reached its peak production capacity in petroleum.
These two futurologists predicted that by 2020, at the latest, “global oil production will begin an irreversible decline, possibly triggering a global recession, food shortages and conflict between nations over dwindling oil supplies.”
Let the world not forget that one of the albeit-er claims evoked by Saddam Hussein in his country’s 1990 invasion and occupation of Kuwait was, namely, that Kuwait was drilling into its oil fields!
Currently, Kuwait is also planning a great expansion of oil exploration and development on the Iraq border. Couldn’t history repeat and war break out again some day over oil or water in the region?
Such a large multibillion dollar investment at a time when the Iraqi neighbor remains so politically unstable would appear to be like bating a lion.