Oil Changes Everything (1958–1971)

On March 11, 1958, oil was discovered on Das Island off the coast of Abu Dhabi — a moment that would change the region forever. In 1966, Dubai followed with a smaller find in the Fateh field offshore. What happened next is unprecedented in history: Within a generation, one of the poorest regions in the world transformed into one of the richest.

Sheikh Zayed bin Sultan Al Nahyan (1918–2004), ruler of Abu Dhabi from 1966, recognized early on that oil would be finite. He invested the oil revenues in education, health, infrastructure, and — crucially — in diversifying the economy. His vision: "A country that does not invest in its people has no future." Zayed is still revered as the founding father; his image hangs in every household and institution in the UAE.

In Dubai, Sheikh Rashid bin Saeed Al Maktoum pursued a parallel but different strategy: As Dubai's oil reserves were smaller, he focused on trade and infrastructure. He deepened the Creek, built the Jebel Ali Port (now the largest port in the Middle East), and laid the foundation for Dubai's role as a trading hub between East and West. His famous quote: "My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover — but his son will ride a camel." The warning about the end of oil drove diversification.