Leaders of Sunni Arab states are not only going nuclear but also seem to be embarking on a military spending spree in an attempt to contain Iran. The combination of high oil prices and growing fear of the Persian expansion has led to the current arms craze.
The Washington Times quotes Tim Ripley, the Middle East analyst with Jane's Defense Weekly, who said: "The Gulf states have a shopping list of arms worth more than $60 billion if all the deals under discussion eventually go through."
Wait. $60 billion is also the amount of money the U.S. pays every year for its oil imports from the Middle East. So for every petrodollar we send to the Gulf we get one dollar back right into the coffers of our defense contractors (most of the weapons are made-in USA). Not a bad deal.
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