Dubai To Blow Water into the Desert Air

Perhaps its time to declare Dubai Building Debauchery as dumb. The latest in “we want the biggest and we want it now” structure is a large fountain to be the centerpiece of the Downtown Burj project. Emaar Properties said it will be the fountain that can shoot water over 150 meters, the same as a 50 story building. I'm thinking since water is scarce in the desert (it still is, right?) and oil is plentiful, shouldn't this be a giant oil geyser?

Vegas seems to have had a design influence on the fountains was they'll have Bellagio-style lights and music. The structure is still unnamed; any ideas?