How can an oil rich country improve its economy because as we all know oil reserves aren't going last forever.

They cant and dun have too..cos US would eventually invade them..How can an oil rich country improve its economy because as we all know oil reserves aren't going last forever.
The first thing to do is to invest in infrastructure and other economic interests. the country should promote other industries other then oil and support their growth within that country. Another thing would be to get everyone involved with the oil profits. reinvest them into other areas of the country. In most oil rich countries there are a few who have billions and the rest have literally scraps.How can an oil rich country improve its economy because as we all know oil reserves aren't going last forever.
We need to invest %26amp; be the first to create %26amp; use a new power source.
Hi, I don't think that all oil rich country can improve their economy.for example Iran is a very oil rich country but the economy is really bad.
You just answered your own question. If we will eventually run out of oil, now is the time to expand the green energy industry. The technology is already there in all kinds of fields. We could create the next wave of US technological advances by creating industry that competes to create efficient, affordable ways for US and global consumers to heat and cool their homes, provide light and drive cars without depending on fossil fuels.
Readjust it's research and development from fossil fuel consumption to alternative fuel sources like...Hydropower--Nuclear power---Wind power ---Electric power---Ionic power.


That last one...ions...


I saw a program I think on the Discovery channel. They were talking about how learning to harness the potential power in ions is the future!


With complete and total support of the governments of the world the technology in the field of ion manipulation and controlling will determine the near complete abandonment of needing fossil fuels!!


Cool!!


But is Big money going to let that happen?


We'll see!!
Invest, Invest, Invest!!!





Take the profits you earn from oil and invest in other companies and industries within your country. Also, invest in ideas for alternate forms of energy, whichever country discovers the next major energy resource will be rolling in the money.
parlay some of the profits into other things





especially education
Quit allowing the oil companies to buy up all the patents for things that use a lot less oil! It is hard to become less oil dependent when the oil companies own all the non-oil patents!
by developing infrastructure and factories with the money you make from oil.
Diversification of industries and markets.