How is the oil industry related to the tallest buildings on earth?

In the previous post, I’ve discussed briefly why Exxon Mobil has left the longtime champion Wal-Mart far behind on the Fortune list. Now, lets look at the fortune of oil (and energy in general) from a different angle.

Recently, I read about the tallest buildings on earth and observed that some of the most fancy buildings are in the Middle East and the going to be tallest buildings are also in the Middle East. Here are some examples:

This famous hotel is the tallest, the only 7-star (informally), and of course one of the most expensive ones on earth. Unfortunately, it’s located in Dubai (UAE), not Saigon .

This giant is under construction and will be completed in 2009 (2 years to go). When finished, it will be the tallest structure (more than 800m) in the world. Again, it is in Dubai. Note that the Freedom Tower being constructed in NYC (expected completion in 2012) is only 541m, as designed.

There are also 3 proposed buildings (Murjan tower in Bahrain, Al Burj in Dubai, Mubarak in Kuwait) which are to be more than 1km tall, if built. I’m getting scared.