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Article: Oman - The Stabiliser For Global Energy Trade.
- Article from:
- APS Diplomat News Service
- Article date:
- February 6, 2006
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A new pole of Arab power, wealth and modernity is emerging in Oman. If Dubai is the dazzling trail-blazer in this part of the GME energy reservoir, Oman is the anchor of stability, security at one source of global petroleum trade, and good sense. All this is thanks to Oman's ruler, Sultan Qaboos bin Said.
The sultanate of Oman, in the south-eastern corner of the Arabian Peninsula, has a relatively healthy economy today, but may face a crisis years down the road without careful, intelligent leadership. The task before Sultan Qaboos is to overcome oil dependency and reliance on foreign workers and create a diversified economy to outlast his country's oil reserves.