Well... sure... but I think that was Bin Laden's point, that the leaders in various parts of Arabia had collaborated with the US to enrich themselves and the US to the cost of the Arab peoples.

They have invested significant amounts in petro-chemical complexes at Yanbu and around Damam.  The fact that they are using so much oil as feedstock for their own petrochemical industries is one of the reasons they have less to export.  Some of their export is of higher value refined product, such as gasoline, diesel and aviation fuel and some is as plastic products.  I would expect this to be an increasing portion of their production over the next 10-20 years.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."