Bye-bye Dubai?

News of financial problems in Dubai (http://www.economywatch.com/economy-business-and-finance-news/dubai-world-defaults-on-debt-panic-button-has-been-pressed-27-11.html) have been growing of late with the latest development (although relatively small 'beer' in terms of the current financial crash) and have been linked to a world-wide decline in stock values (possibly because many people are on holiday in the USA and the Arabic world, so there is nothing much else to get excited about). I would have thought that these were not great times for one of the less oil rich Emirates to be involved in major building developments including the low-lying artificial islands that they are creating at Palm Island. The link between oil and sea level rise is almost too obvious to note!