Several arabian peninsula countries have spent billions of dollars developing industries such as banking and steel production to a. provide more jobs for larger waves of immigration b. increase the skill level of their workers c. draw investment from western companies d. prepare for the time when their oil reserves run out

d. prepare for the time when their oil reserves run out

Explanation:

The countries that are part of the Arabian Peninsula have economies that are almost exclusively driven by the export of oil and natural gas. While this is perfectly fine for the time being as they are one of the largest producers, and those two are the most demanded natural resources across the world, it would not always be that way. The oil and the natural gas are fossil fuels, and they are extracted much faster that the rate of the renewal, so eventually they will be spent. Once this happens, the economies of these countries will crumble overnight. Because of this, some of the countries in this region have started to develop other economic sectors, such as banking, steel production, and tourism in order to have a solid economic base when they run out of these natural resources.