Ferraris Not Good Enough Anymore: Oil Profits Inspire "Conspicuous Consumption"

Wall Street Journal:

ABU DHABI, United Arab Emirates -- With oil near record highs, the Persian Gulf is awash in cash, stimulating a return to some very conspicuous consumption.

Ferrari S.p.A. says sales in the Middle East leapt 32% last year. BMW Group's Rolls-Royce Motor Cars says the UAE, a country with a population of just 4.6 million, is now one of its top five global markets. All those expensive cars clogging the roads have given rise to another must-have status symbol: a prestigious license-plate number.

Read the whole story: Wall Street Journal

Comments

[brooklyncitizen]

Well and just think the Saudis are now able to fund EVEN MORE terrorist attacks.
Life is grand.

[Bettysdad]

I'm just glad they're spending my money wisely.

They could be doing something really foolish, like helping their Palestinian brothers.

[starrianna]

Someone paid $9,000,000 for the license plate
"5"?

Is this the length of his whackadoodle?

[armadillious2002]

i hope I live to see the day when America is energy independent, the repub oilies no longer have their way, and the oil rich Arab countries scramble to find buyers for their product.

[mamacat]

Even if America never bought another drop of Middle Eastern oil, the rest of the world is now consuming enough petroleum to keep the oil wells pumping 24/7.

[SouthJerseySteve]

Any truth to the fact that they wealthy Arab countries could spend 1% of their wealth on other poor Arabs/Muslims and end poverty in that part of the world as we know it? Selfish bastards! They must all be Republicans!!

[researcher]

good for them they are rubbing our imperialistic noses in our self righteousness.

we will have our own oil fields with iraq and after taking iran.

as soon as iran kills some our soldiers while doing ops in iran we will use that as an excuse to invade iran

americans will fall for it hook line and sinker. ie dumber than dumb

god bless americans truly god's country willing to trade blood for oil.

corp fascism now rules the day in america$$$$$$$$$$$

[SiberianRat]

Ugh! I lived in the UAE for 5 years and the car and plate thing was nauseating, and that was before the big increase in oil prices. Materialism in that part of the world is shameful, especially since they are constantly talking about being good Muslims, blah blah. So, remember that at the voting booth friends--our leaders, through their awful policies, have helped a bunch of greedy spoiled Sheikhs in Arabia get even richer. They build palaces and resorts on the backs of exploited slave labor from South Asia and Westerners patronize the country and comment on how "progressive" it is for a Gulf country. Yuck.

[orangepetal]

It is time to investigate drilling. Keep our money here. America consumes 3 times more oil than we produce, yet Mc Bama does not think it is an issue. He will focus on reduction and clean energy.
What if reduction is not as successful as he assumes it should be. It is not like he has a History to show us how effective his ideas have proven to be.

[hypnotoad72]

Nuclear power and electric cars, light rail, et cetera...

I know oil will always be a necessity, but it seems easy to fathom ways so that nobody gets adversely affected.

[brooklyncitizen]

I would reccommend this to anyone serious about the environment , especially energy consumption. By far it shows how communities can effect changes and reduce their local consumption and dependence on oil, and in this case eliminate it entirely. maybe we can all agree that other than putting in place safeguards, the govt will do but so much; we can do a lot ourselves.

http://www.newyorker.com/reporting/2008/07/07/080707fa_fact_kolbert

[loki]

Thank you America for making these people so wealthy, they now control many of our puppet government officials in DC. Not only can they support terrorist who bomb our buildings and kill our solders, they tell our politicians how to manipulate us so they can profit more and more. Congratulations America, we have done a good job so far, but now its time to step up to the plate and really give because the people in the middle east really need solid gold Rolls and a fleet of Ferrari's . You know how it is, when one runs out of gas, you cant be bothered with filling up, just have another brought to you and continue on your drive . Gas Mileage is not a question when you have to run the AC full blast while you drive through the desert while their Saudi Egal upon their heads flutter in the breeze.

[gevan]

Now if they had a plate that said "METS", that would be something worth bidding on.

[MrStill]

These must have the tiniest d**ks on the planet.

[1rewd1]

Actually, men of the middle east ARE notoriously unendowed.

[truthbrigade]

Would that include Jesus?

[Artoo45]

Oh, the hubris . . . they sound just like . . . us.

[supergranny]

what an empty people

[truthbrigade]

As opposed to George Bush?

[Pippilangstrumpf]

It's just absolutely disgusting. This mindset makes me want to vomit.

I would not want to be in the same room with a person who thinks that owning a ferrari with a license plate that he paid enough to buy a house with is a status symbol...somthing to aspire to.
And when I think of the human rights abuses that go on over there, they way they treat their domestic help it burns me.

I'm involved with a group of people who do volunteer work and when I think of the money that this organization needs, and the time and energy we put in to help people in distress and compare it with these fools who do nothing to contribute to society, I don't know which emotion to tap into first...anger, pity, sadness, disgust, apathy....people like this are the oozing scabs of the earth.
They are foul human beings. How do they look in the mirror? How do they sleep at night?

[truthbrigade]

Ask George Bush how he sleeps at night after all the innocent blood that was spilled because of him and the American people who put him in the W/H twice (yes, twice).

You're a hypocrite and a racist; understandable, you're an UmerCAAN.

[anastasiabeaverhousen]

Sociopaths don't have trouble sleeping.

[Pippilangstrumpf]

Ad hominem attacks, truthbrigade....they mean nothing.

I am no fan of Bush, but the article wasn't about Bush, it was about the nausea inducing behavior of the nouveau uber-rich.

[truthbrigade]

I don't mind see you vomit

[HatingTheGame]

Just think a couple of generations ago these guys were roaming the desert, living in tents, and riding camels. Now they are building skyscrapers to the sky, driving fancy cars, and dating super models.

The Bush Cheney energy policy at work.

Mission accomplished.

[rodgertlangley]

Allah has truly shown his face upon them.
And perhaps when the oil is done they can return to the desert from whence they came.
We can hope.

[truthbrigade]

Prey to Jesus.