Daniel Yergin

You need to create jobs.

And the oil industry is a

capital intensive business.

It's not a labor intensive business.

So you need to bring in other kinds of industries as well.

Because if you look at your population, maybe 60% of your population just roughly is under the age of 30, something like that.

So you have a real need, a real job creation need.

Yeah, so we need to explain the Dutch disease, which means that you create an inflationary economy and make businesses uncompetitive, the heart of the Dutch disease.

And of course, that concept was invented for the Dutch because that happened when they...

when the Netherlands became a big producer of natural gas.

So I think it is a cautionary tale.

You want to, as I say, sterilize some of the money that comes in, put it into a sovereign wealth fund, invest it overseas.

And then you want to put money into education and health and those basic human needs create, I mean, you want to turn, I guess, financial capital into human capital.

Well, I think there's no single...

Some have, some have not.

Well, I think it is.

If you have that huge inflow of money, it really can create a lot of distortions.

And I think if you look back at the events that led to the overthrow of the Shah of Iran, I mean, things don't happen for one reason or another.

He probably had cancer for two years and was losing it.

And he also had been so arrogant that he kind of alienated people and he had his secret police and so forth.