When it comes to the Mideast oil money these days, the eight-billion-dollar Dubai ports deal now giving President Bush so much trouble in the US Congress is a drop in the oil barrel.
Surging prices for crude oil are turning the glittering cities of the Gulf oil states into new Xanadus. An ocean of Gulf oil money is buying an ocean of products and properties around the world - and floating an ocean of American debt. It is also financing Iranian dreams of nuclear power and Islamic fundamentalist dreams of world power.
Hear about the latest on the threats and counterthreats with Iran, the Dubai pushback in Congress, and the mega-money from the new Mideast oil boom.
Borzou Daragahi, Baghdad Correspondent, Los Angeles Times
Peter Coy, Senior Economics Writer, Business Week Magazine
Fareed Mohamedi, Partner, PFC Energy;
Youssef Ibrahim, Managing Director, SEIG.
This program aired on March 9, 2006.