This chapter narrates the historical context that shaped the contemporary economic landscape of the Gulf states and critically examines the enduring impact of colonialism on the region’s economic fabric and how the entrenched “dual economic framework” imposed limitations on development. This chapter also sheds light on the emergence of resource nationalism as a transformative strategy for Gulf states to assert control over their natural resources and challenge this dependency. The creation of OPEC serves as a core moment in the realm of global energy politics, symbolizing a strategic move towards economic autonomy and the collective bargaining power of developing countries. Building upon this historical foundation, the chapter deconstructs the philosophical and theoretical frameworks that underpin development strategies during this era of rapid modernization in the Gulf and explores how Gulf policymakers creatively adapted these models to their unique socio-political and economic contexts, paving the way for their ascent as significant players in the global energy market.