These middle eastern countries may be scum, but I have some admiration for them. At least, they achieved something with their oil resources and built wealth, unlike let's say, Venezuela and my country Nigeria that are so rich in resources yet poor in money, intellect and morals.
We have a state-owned oil company called the Nigerian National Petroleum Commission (NNPC), but it is led by corrupt dunces that have no clue of what they're doing, so they've missed out on the recent oil boom that would have brought a lot of foreign exchange and strengthened our economy.
Picture this; we are Africa's largest oil exporter but have no local refinery. In other words, we get foreign exchange for selling oil then turn back and use those dollars to acquire end products instead of manufacturing those products by ourselves. We are corrupt and useless just like every other African country.
I agree with you to some extent concerning Nigeria. But Nigeria oil reserve and output is not in the same league as Saudi. This is very fundamental. Another one is population. Nigeria is 9 times more populated than Saudi.
