ABSTRACT
This chapter discusses four aspects of the oil industry in the Emirates. Firstly a historical survey of the industry is presented. Secondly, an assessment is attempted of the crude oil production of every company operating in each Emirate and this assessment is utilized to check the oil revenues received. Thirdly, the Emirates’ position in the international oil industry is shown, together with comparisons between them. Fourthly, the impact of the development of the oil resources on the local economies is discussed. Prior to 1929, the Arab merchants had feared that the potential permanent employment given by the oil industry would affect their own employment needs in the pearling industry. The Emirates are among the most important exporters of crude oil. Bahrain is the exceptional case in the Gulf region, as it imports crude oil instead of exporting it. The chapter explores some aspects of the impact made on local economies by the exploitation of oil resources.
