A new basis for Arab economies

Part of sustainability for countries in the Middle East is figuring out a basis for livelihood beyond selling petroleum. For all our talk about "ending our dependence on foreign oil," it will come to an end some way or other as oil resources dwindle.

And then what? Naturally, we are most focused on the effect this will have on ourselves, so we are pursuing many alternative energy options. We worry about how we will make and distribute goods, including food, as well as how we will travel for business and pleasure.

But what about for the countries that used to sell petroleum? Neither they nor the rest of the world can afford a collapse of their economies. (If you think the raw emotion pouring out of that region of the world is powerful now, imagine how it will be when they are having trouble feeding themselves.) That's why this article caught my eye:

Venture Capital to Boost Innovation in Arab World

The amount of money they are talking about is rather paltry at this point (although presumably it is not as expensive to do research there as it would be in, say, Silicon Valley). But still, this is a good start to building a foundation of value for their societies. After all, the first scientists were from the Arab world. They were far ahead of their European counterparts in such fields as astronomy and mathematics. Maybe it's time to reconnect to those roots.