International Petroleum Investment Company - IPIC
Categories: Investing
You've probably heard of Dubai, the famously decadent Middle Eastern city so inundated with oil money that it has an indoor ski slope, despite the fact that the outdoor temperatures routinely top 100 degrees during the summer. Well, just down the way, in the same country (United Arab Emirates), there's another, similarly oil-rich city called Abu Dhabi.
And Abu Dhabi needs to do something with all that oil money, besides pay for air conditioning and Lamborghinis. The International Petroleum Investment Company was one of the funds Abu Dhabi's government used to invest its vast amounts of cash. Specifically, the IPIC concentrated on petroleum investments.
Originally set up in 1984, IPIC was eventually merged in 2016 with another investment firm to form the Mubadala Investment Company.
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Finance: What are petro dollars?8 Views
Finance allah shmoop what are petro dollars Well they're just
money received from the mining of this guy's blood and
guts because yeah oil that's where it comes from yesterday's
stegosaurus is today's refined petroleum and we're talking about a
massive amount of dollars here like you could call them
master dollars or t rex a dollars or try sarah
dollars big wealth in the nineteen seventies came from the
petro era in the same way that it's led today
by amazon facebook and google When oil prices suddenly spiked
in the seventies the people who won well they were
the ones who had massive oceans of it underground We're
looking atyou saudi arabia and you texas and in times
when there is so much money coming into a system
with a shock well the economic driver of that wealth
becomes a kind of currency itself In fact china's made
all kinds of noise about making their currency now and
oil standard upgrading from the old gold silver and bronze
medal of shame standard that western civilization well he used
to hold so dear petro dollars petro wealth were still
feeling it and weigh no that that makes this guy
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