How Oil Prices & GCC countries Investment Strategy affects Global Economy?

Negligence. They should take proper precaution method and to avoild this kind of problem in future. Further they should make a law/system and to punish the country by fine/any method to avoid this problem in future.
K Rajagopalan.

You are right but it is a very short sigthed policy that the GCC countries are following. Working currently in the GCC has shown me how these economies are not progreesing on the human index even though they are generating plenty of wealth. When someone gets something easily there is no value for that. Hence if u see in the GCC economies there is huge brain drain, hardly any improvement in living conditions bcos only those related towns and cities around any oil activity flourish while others languish. The intellectual ability in these economies are also poor. All that they do is drive around for ages in their fuel guzzling cars and eat out at fast food joints which do not augur well for their future. 
And sadly this scenario is not going to change because as long as the world is energy deficient and dependent on oil as the major energy source, they play into the hands of the oil producing nations who dictate terms not only on the product that they sell but also where they oput their money in.