Gasoline Prices: Just Keep Following The Money
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With gasoline prices hovering a little above the $4.00 per gallon range you might wonder where the bulk of all that money goes. Not the oil companies, not the government – but, the most money goes to the royalty owner – especially if you are one of the owners of the country. Cash is washing up on the shores of the Middle East and despite the damage being done to world economies, conspicuous consumption is making a big comeback in the oil producing countries of the Middle East.
The sale of Ferraris increased in the Middle East by a rate of 32% last year. The other luxury car manufacturers aren't hurting for sales to these countries either. So, after covering your wristwatch and your car in diamonds and starching your robe, what else can you do with all that cash? Since you already have everything, the only thing left is some sort of desirable license plate for your expensive ride. In Abu Dhabi, United Arab Emirates, an oil baron named Abdullah Al-Mannaei has made the Guiness Book of World Records by actually shelling out $14 million for a license plate with only one character – "1." The single digit license plates are the most desirable with number combinations tied to the model number of the car coming in a close second.
It is not clear whether Abdullah broke a record for spending the most on a vanity license plate, or if he broke the record for the most dumb purchase every made. It might be the latter because it seems this lack of basic common sense runs in Abdullah's family – his brother-in-law paid $9 million for the license plate with the number "5." The only single digit left in Abu Dhabi is the number "9" which has received bids starting at $700,000. By the way, a normal license plate in Abu Dhabi goes for a sane registration fee of $95 – about the cost of a tank of gas in the United States.
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With gasoline prices hovering a little above the $4.00 per gallon range you might wonder where the bulk of all that money goes. Not the oil companies, not the government – but, the most money goes to the royalty owner – especially if you are one of the owners of the country. Cash is washing up on the shores of the Middle East and despite the damage being done to world economies, conspicuous consumption is making a big comeback in the oil producing countries of the Middle East.
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| What happens when you have more dollars than sense... |
The sale of Ferraris increased in the Middle East by a rate of 32% last year. The other luxury car manufacturers aren't hurting for sales to these countries either. So, after covering your wristwatch and your car in diamonds and starching your robe, what else can you do with all that cash? Since you already have everything, the only thing left is some sort of desirable license plate for your expensive ride. In Abu Dhabi, United Arab Emirates, an oil baron named Abdullah Al-Mannaei has made the Guiness Book of World Records by actually shelling out $14 million for a license plate with only one character – "1." The single digit license plates are the most desirable with number combinations tied to the model number of the car coming in a close second.
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| The New Analogy |
It is not clear whether Abdullah broke a record for spending the most on a vanity license plate, or if he broke the record for the most dumb purchase every made. It might be the latter because it seems this lack of basic common sense runs in Abdullah's family – his brother-in-law paid $9 million for the license plate with the number "5." The only single digit left in Abu Dhabi is the number "9" which has received bids starting at $700,000. By the way, a normal license plate in Abu Dhabi goes for a sane registration fee of $95 – about the cost of a tank of gas in the United States.
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Gasoline Prices: Just Follow The Money
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