The political economy of oil in the middle east
At this point, it is important to place emphasis on the fact that the US is dependent on the supply of the oil from the Middle East too. Therefore, the US attempts to establish political and economic control over the Middle East, eliminating “undemocratic” governments and establishing pro-American ones. The origin of American economic involvement in the Middle East, particularly with regards to oil, dates back to 1928 with the signing of the Red Line Agreement. This was preceded by the founding of the Turkish Petroleum Company, which was created with the intention of exploring and extracting oil within the Ottoman Empire. The economy of the Middle East is very diverse, with national economies ranging from hydrocarbon-exporting rentiers to centralized socialist economies and free-market economies. The region is best known for oil production and export, which significantly impacts the entire region through the wealth it generates and through labor utilization. This chapter examines the impact of oil and political economy on the international relations of the Middle East. It begins by discussing the relationship between oil and the consolidation and evolution of the modern Middle Eastern state system, noting that, while outside powers have invariably used oil in their calculations of Middle East policy, oil has figured less prominently in the foreign
Current Situation in the Middle East. Search. Search the site GO. Issues. The Middle East Basics Primoz Manfreda is a researcher and political risk analyst who covers political and economic trends in the Middle East. our editorial process Iran’s oil-dependent economy is under severe strain due to sanctions imposed by the West over the
In 2018 Bahrain has a per capita GDP of US$50,700. Bahrain has the Persian Gulf's first "post-oil" economy. Since the late 20th century, Bahrain socio-economic initiatives that can foster greater political stability in the Middle East given its central importance as an oil producing province; and secondly, 6 The importance of state power for Oil 6.1 The Baku–Tbilisi–Ceyhan Pipeline 6.2 Water ways and state power. 7 The oil price, the Middle East and international Editorial Reviews. Review. "This book investigates how deep changes in the world of global The Political and Economic Challenges of Energy in the Middle East and North Africa (Global Governance) 1st Edition, Kindle Edition Declining oil prices, skyrocketing domestic demand, the rise of unconventional oil and natural
The Middle East and North Africa (MENA) are in disarray, and shifts in the field of energy have the potential to drastically affect the course of political and economic developments in the region. Declining oil prices, skyrocketing domestic demand, the…
This section will explore the extent to which oil is a "resource curse," the the Venezuelan case with other cases in Latin America, Asia, the Middle East, and
How will future demands for this limited resource create a new international political and economic order according to Michael Klare? Historically, the Middle East
Human Capital Development in the Transitional Oil Economy” (Middle East Journal, 2018); and “Exploring Why Institutional Upgrading Is not so Easy in Rentier The Project on Middle East Political Science (POMEPS) is a collaborative The political economies shaped by oil wealth have been primarily studied in the
Oil-producing states (especially large producers such as Saudi Arabia, Iran, Iraq, Kuwait, the United Arab Emirates, and Qatar) benefited directly in the form of high
Announcing the 2019 Middle East Political Economy Book Prize Winner and one of the largest transnational oil corporations in the world in the techno-political Bahrain's economic stability is important for its political stability. geopolitical importance: The British Royal Navy moved its entire Middle East command from Algeria: The Political Economy of Oil and Gas, by Ali Aissaoui. New York and Oxford, UK: Publication: The Middle East Journal. Volume/issue: Vol. 56, No. 2. Oil has been a double-edged sword for the Middle Eastern politics, simultaneously a source of power and of weakness, of economic development and of Human Capital Development in the Transitional Oil Economy” (Middle East Journal, 2018); and “Exploring Why Institutional Upgrading Is not so Easy in Rentier
6 The importance of state power for Oil 6.1 The Baku–Tbilisi–Ceyhan Pipeline 6.2 Water ways and state power. 7 The oil price, the Middle East and international Editorial Reviews. Review. "This book investigates how deep changes in the world of global The Political and Economic Challenges of Energy in the Middle East and North Africa (Global Governance) 1st Edition, Kindle Edition Declining oil prices, skyrocketing domestic demand, the rise of unconventional oil and natural The story of the discovery, exploitation, and importance of Middle Eastern oil has been undesirable political and economic outcomes from the point of view of 9 Oct 2018 For years, rentierism derived from oil sales or other sources maintained the political and economic status quo in the Middle East. But lower oil