Sure, they could put money in education, research climate change and photovoltaic or other technologies and try to improve quality of life with sustainable stuff.
But to the people in power, only symbols and power are important.
I think they do all that. They have plenty of universities, also their other oil rich neighbours are pouring money into British and American educational institutions to open campuses there. IIRC some Ivy league universities from the Western world have campuses in the region.
