Space May Be Next Frontier for Earth's Crude Oil Giants, Analyst Says

The Middle East has an outsize impact on energy here on Earth. One analyst thinks some regional powerhouses may leverage that role into the development of natural resources in space.

Countries like the United Arab Emirates and Saudi Arabia are developing space programs and investing in nascent private space commodity initiatives, said Tom James, a partner at energy consultant Navitas Resources. Doing so could give them a foothold in building extraterrestrial reserves of water -- a substance likely to fuel travel within space -- and other resources that could be used for in-space manufacturing.

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