klaatu--yes there are obviously some big differences. But, as you point out, there are some striking similarities. Dependance on a natural resource for wealth creation is a big one--something that distinguishes both from other wealthy small countries, such as Luxembourg. They are also both surrounded by substantially more powerful neighbors who desire to exploit those natural resources.
While Qatar's LNG reserves are proven into the next generation, banking on it to create wealth for 200 years is a huge stretch. Because if either of the following happened, the reserves would be pointless.
1. An viable alternative source of energy is discovered. Remember, LNG wasn't even in play 200 years ago. Someone develops a safe, cheap and viable hydrogen fuel cell and it is all over.
2. The discovery of even greater source of LNG and prices fall dramatically. Certainly possible, as much of the world's potential fields have not been explored. Who knows what is sitting under the polar ice caps.
Eventually, LNG will become obsolete as energy source; it is just a matter of how and when. It's a race against time in which no one knows how much time is left on the clock.
klaatu--yes there are obviously some big differences. But, as you point out, there are some striking similarities. Dependance on a natural resource for wealth creation is a big one--something that distinguishes both from other wealthy small countries, such as Luxembourg. They are also both surrounded by substantially more powerful neighbors who desire to exploit those natural resources.
While Qatar's LNG reserves are proven into the next generation, banking on it to create wealth for 200 years is a huge stretch. Because if either of the following happened, the reserves would be pointless.
1. An viable alternative source of energy is discovered. Remember, LNG wasn't even in play 200 years ago. Someone develops a safe, cheap and viable hydrogen fuel cell and it is all over.
2. The discovery of even greater source of LNG and prices fall dramatically. Certainly possible, as much of the world's potential fields have not been explored. Who knows what is sitting under the polar ice caps.
Eventually, LNG will become obsolete as energy source; it is just a matter of how and when. It's a race against time in which no one knows how much time is left on the clock.