Essay on The Economics Of The Middle East

1156 Words Nov 10th, 2014 null Page
A country’s level of stability must be judged based on many different factors. In fact, it is easier to define the stability of those individual factors, than it is to judge them as a collected whole. In American popular culture, we generally tend to think of the Middle East an area of the world that is full of instability. If one were to look at all of the civil unrest they would come to that conclusion. The Middle East is much more than that, however. The civil unrest is just the top layer of a very complicated and intricate culture and area. If one were to look at the economics of the Middle East, they would see that one aspect of Middle Eastern society is indeed truly stable. To be specific the economics of oil not only creates a stable economy in the Middle East through job creation, it also gives Middle Eastern leaders a great tool for political persuasion. With the control of oil, those leaders essentially can affect many aspects of the Western life. This influence by oil barons lead countries such as the United States to develop alternative sources of energy to lessen the Middle Eastern control of the market place.
Over the past century, oil has been one of the leading products of many Middle Eastern economies. It makes up such a large market that Middle Eastern countries dependent on oil have band together to form the Organization of the Petroleum exporting countries. Today OPEC is comprised of twelve independent countries (Organization of the Petroleum Exporting…

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