Drag Racing & Leadership Take Overs In The Middle East (1 Viewer)

[Paul]

You are OK with sending them all of our money for oil, but when they send some of it back you have a problem?

Good point, I'm not ok with sending them all our money for oil.

Fire up the offshore towers and lets start really going after the oil in Alaska.

 

[mick]

........Fire up the offshore towers and lets start really going after the oil in Alaska.......

- new oil exploration is extremely difficult and expensive
- the volatile economic climate of last few years has virtually halted
investment in oil exploration - new fields may not profit initial investors
for over a decade

 

[XDoodlebugger]

- new oil exploration is extremely difficult and expensive
- the volatile economic climate of last few years has virtually halted
investment in oil exploration - new fields may not profit initial investors
for over a decade

Our own government has had more to do with the investment stopping here rather than the volatility. I know of a LOT of projects going on overseas but new permits here have been very difficult to get through the Obama government.

 

[XDoodlebugger]

As some have stated, at least some of that oil money is coming back home. I wish EVERY sheik in the middle east spent their money on a racing team.

 

[twostep]

It's the widest played and watched sport in the world. The World Cup is it's premier event. To make an impression on the world stage, $20b is a good bargain.

I suppose you're right - after all, the folks running the country of Qatar are obviously smarter businesspeople than I am.

Odd, too, that soccer never really caught on in the USA, other than it helps sell a ton of Suburbans and gives lots of kids something to do after school.

Personally, anyone with the financial clout of KH Khalid, or whatever he's called, is more than welcome to bring that clout to NHRA drag racing, in my opinion. It's not like the sport is overwhelmed with Pro class competitors and sponsors. Like it or not, we need the guy and others like him.

 

[The Counterfeiter]

The first domino falls and it isn't drag racing. Formula 1 Bahrain Grand Prix is "postponed". Bahrain rulers reportedly paid an extra 20 million (don't know if that's dollars or euros) to secure the year's first race date - probably not refundable.

Situation in north Africa and UAE is very volatile. It fortunately appears that American racers have had to spend little or nothing to race over there. If I were racing in that area, I'd get the hell out . . . right now.

 

[vegasnitro]

The first domino falls and it isn't drag racing. Formula 1 Bahrain Grand Prix is "postponed". Bahrain rulers reportedly paid an extra 20 million (don't know if that's dollars or euros) to secure the year's first race date - probably not refundable.

Situation in north Africa and UAE is very volatile. It fortunately appears that American racers have had to spend little or nothing to race over there. If I were racing in that area, I'd get the hell out . . . right now.

I would guarantee you it is not refundable. No way is Bernie going to be left holding the bag. The Concorde Agreement that governs F1 is written in US Dollars interestingly enough.

This is the first domino to fall in a larger sense for F1 too. The F1 schedule has shifted in large part to "non-traditional" markets that are paying exorbitant sanctioning fees funded either by wealthy Sheikhs (Bahrain and Abu Dhabi) or by the public at large (Malaysia, Singapore, China, Turkey, Korea). All of these races are HUGE money losers for the organizers, hell Bahrain has never had 5,000 attend their race. Malaysia and Turkey barely crack 10,000 fans and China makes people to go to the race and has screens around the track telling people when to cheer. At some point, these individuals or governments aren't going to be able to take the loss and refuse to sign. Then where will F1 be?

As an aside, this is why I am dubious about next year's F1 race in Austin, Texas. I don't think the good citizens of Texas understand that $25 million per year for 10 years of their taxpayers' dollars are going to fund this race. That's right Texas, Uncle Bernie got you on the hook for a quarter of a billion dollars ...

 

[mick]

on monday bahrain withdrew from hosting F1 season opener.

 

[vegasnitro]

on monday bahrain withdrew from hosting F1 season opener.

Withdrew is polite parlance. Bernie told them they weren't going to race and he allowed Bahrain to draft some cock-a-mamy press release to save face. Looks like they will be going back-to-back with Abu Dhabi to end the season, provided there is political stability by then ...

 

[The Counterfeiter]

I would guarantee you it is not refundable. No way is Bernie going to be left holding the bag. The Concorde Agreement that governs F1 is written in US Dollars interestingly enough.

It appears that aliens have taken control of Bernie's brain - I cant think of any other explanation for this development! -
FORMULA ONE - F1: Ecclestone Not Charging Bahrain For Postponed Race

 

[shoedoos]

The dark side of Dubai - Johann Hari, Commentators - The Independent

 

[mick]

mark, thanks for that link.
have read similar in recent past.
the tony bourdain show on travel channel did a piece
on dubai and basically showed the same thing - who is
really building this desert oasis

 

[Paul]

mark, thanks for that link.
have read similar in recent past.
the tony bourdain show on travel channel did a piece
on dubai and basically showed the same thing - who is
really building this desert oasis

Its not hard to find similar links and stories regarding Qatar. I've already gone on record as having concerns about this source of funding into drag racing, the apparent abuse of foreign laborers in these countries has definitely strengthened my concerns.

Sometimes you have to be morally strong enough to walk away from a deal that just doesn't seem right.

 

[mick]

.......the apparent abuse of foreign laborers in these countries has definitely strengthened my concerns.

did a little research......not any one specific country
it's right up there with arms and drug trade.
.......wow, the reading is endless; i'll leave it at that.