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Yemen: High Standard Of Living In The United States

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Unfortunately, some countries aren’t so lucky when it comes to their location and theresources that belong to them. Yemen is an important example because they lack oil and are verysecluded. This country is struggling and faces one of the lowest per capita GNI’s. They rely onsubsistence agriculture and have high unemployment rates as well as growing violence. All ofthis leads to relatively low standards of living. However, being oil poor does not mean that acountry’s standards of living are low. For example, Israel lacks large oil reserves, so it can’t bringin large sums of money into the country from the oil market. However, they have becomeextremely agriculturally productive and have been a leader in telecommunication products. Evenwithout oil, they are “one of the highest standards of living in the region”. For Israel, they have abright future since they do not depend on the oil market. However, the now prosperous oil richcountries with high standards of living might not have such high standards of living in the future.For example, Iran is a very densely populated country that had large amounts of oil at a point intime. However, they faced some economic turmoil by not trading, which has recently declinedtheir standard of living and caused the country to become very poor. Having oil doesn’tnecessarily mean that a country will have a higher standard of living than another country who isnot a participant in the oil market. …show more content…

The countries that are rich in oil now face the problems offluctuating prices as well as depleting their reserves, so maybe one day the oil poor countries’standards of living will surpass the oil dependent countries in Southwest Asia and North

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