Saudi Arabia rose to power and prominence after the discovery of oil in 1938. In this episode, we will focus on how this Middle Eastern country became one of the wealthiest nations in the world.
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In addition to being the birthplace of Islam, Saudi Arabia is known for its largest source of petroleum in the world.
The Arabian Peninsula is the birthplace of one of the oldest religions in the world and is also the site of the first Islamic Empire. The region is also home to Mecca and Medina, two of the holiest cities in the Muslim world. Despite its rich history, the region lost its prominence after subsequent rulers moved their capital to various Mediterranean cities. However, things changed after Abdul Aziz Ibn Saud came into the picture.
Ibn Saud, along with military and political support from the fundamentalists of the Wahhabi movement, attacked and conquered the region. Following the conquest, he established the Kingdom of Saudi Arabia and became its first king. In 1938, six years after the birth of the new kingdom, oil was discovered. With its newfound discovery, Saudi Arabia was set to become one of the wealthiest countries in the world.
An article published on the official website of National Geographic mentions the following:
“On March 3, 1938, an American-owned oil well in Dhahran, Saudi Arabia, drilled into what would soon be identified as the largest source of petroleum in the world. The discovery radically changed the physical, human, and political geography of Saudi Arabia, the Middle East, and the world.”
Before the discovery of the oil, the kingdom’s economy was largely based on tourism. The lion’s share of the revenue was generated from devout Muslims visiting Mecca and Medina. However, with the discovery of the largest source of oil, the infrastructure of the country began to change. Today, Saudi Arabia is the largest exporter and producer of oil in the world.
The Nat Geo article mentions:
“Most industrialized nations depend on petroleum imports, and critics claim this allows Saudi Arabia to have an outsized role in some foreign policy decisions, especially those surrounding the Middle East. The discovery of oil also changed the demographics of the kingdom. Today, millions of foreign workers—from the U.S., India, Pakistan, Ethiopia, and the Middle East—live and work in Saudi Arabia.”
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