Sinister Paradise  

It will be very interesting to see how this exercise unfolds over the next 30 years - will the gulf states be able to maintain the required energy supplies to keep this whole extravagant show on the road, or are they building a modern day Hanging Gardens of Babylon ?

I imagine the flow of cash through the kingdoms will continue to be enormous (and growing) for a decade or so yet, so maybe they will be able to construct some sort of solar powered Viridian dream in the desert. But more likely it's just a gratuitous piece of terraforming for the sake of it.

After Shanghai (current population: 15 million), Dubai (current population: 1.5 million) is the world's biggest building site: an emerging dreamworld of conspicuous consumption and what locals dub "supreme lifestyles."

Dozens of outlandish mega-projects -- including "The World" (an artificial archipelago), Burj Dubai (the Earth's tallest building), the Hydropolis (an underwater luxury hotel, the Restless Planet theme park, a domed ski resort perpetually maintained in 40C heat, and The Mall of Arabia, a hyper-mall -- are actually under construction or will soon leave the drawing boards.

Under the enlightened despotism of its Crown Prince and CEO, 56-year-old Sheikh Mohammed bin Rashid al-Maktoum, the Rhode-Island-sized Emirate of Dubai has become the new global icon of imagineered urbanism. Although often compared to Las Vegas, Orlando, Hong Kong or Singapore, the sheikhdom is more like their collective summation: a pastiche of the big, the bad, and the ugly. It is not just a hybrid but a chimera: the offspring of the lascivious coupling of the cyclopean fantasies of Barnum, Eiffel, Disney, Spielberg, Jerde, Wynn, and Skidmore, Owings & Merrill.

Dubai can count on the peak-oil epoch to cover the costs of these hyperboles. Each time you spent $40 to fill your tank, you are helping to irrigate Sheik Mo's oasis. Precisely because Dubai is rapidly pumping the last of its own modest endowment of oil, it has opted to become the postmodern "city of nets" -- as Bertolt Brecht called his fictional boomtown of Mahoganny -- where the super-profits of oil are to be reinvested in Arabia's one truly inexhaustible natural resource: sand. (Indeed mega-projects in Dubai are usually measured by volumes of sand moved: 1 billion cubic feet in the case of The World.)

Dubai's security is guaranteed by the American nuclear super-carriers usually berthed at the port of Jebel Ali. Indeed, the city-state aggressively promotes itself as the ultimate elite "Green Zone" in an increasingly turbulent and dangerous region. Meanwhile, as increasing numbers of experts warn that the age of cheap oil is passing, the al-Maktoum clan can count on a torrent of nervous oil revenue seeking a friendly and stable haven. When outsiders question the sustainability of the current boom, Dubai officials point out that their new Mecca is being built on equity, not debt.