Reply #4: U.S. drawing lots of Mideast oil money [View All]

[lovuian]

http://feeds.bignewsnetwork.com/?sid=482d4336f2050b3d

Middle Eastern companies flush with fortunes from last year's oil price increases re buying U.S. and European properties at an accelerating pace.

Among the most acquisitive buyers is the ruler of Dubai, Mohammed bin Rashid Maktum, The Washington Post said Tuesday.

Besides the controversial Dubai Ports World deal, he is behind many other large-scale ventures:

-- A $1 billion portfolio of 21,000 apartments in U.S. Sun Belt cities;

-- A 2.2-percent stake in the automotive giant DaimlerChrysler AG that cost another $1 billion; and
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Michael Moore said it in Farenheit 911