What could happen to the Middle East if oil were no longer a major and primary source of energy? Essay Example
What could happen to the Middle East if oil were no longer a major and primary source of energy? What might the Middle East do to adapt to such a situation? In general, what can economies based on sources of energy do to adapt to changes caused by depletion of natural resources?
There is no nation that can survive economically on only one source of income. The Middle East is no exception to this. Although according to Luthans and Doh,(2012) “Arab and central Asian countries rely almost exclusively on oil production”. Exclusive dependence on any one product would definitely result in economic demise. This would result in greater poverty and economic suffering in a nation where oil is no longer a major and primary resource.
The Middle East would also be faced with political, cultural and religious issues in addition to the economic conditions that would result from the loss of income from oil production and sales. This is so because; the protection and aid the Middle East currently enjoys from the United States in spite of its current policies and turmoil would no longer exist. This would result in greater economic hardship to its citizens. It is imperative that Middle Eastern countries look at other industries to develop for its economic survival.
In a Forbes magazine article entitled, “What Happens When America No Longer Needs Middle East Oil?" Loren Thompson stated that the United States will be self sufficient in energy by 2030 because of new drilling technologies, alternative fuels and the reduction in the consumption of oil reducing the need for imported oil.
Sustainable development is the only way the Middle East would be able to survive economically. According to Thompson some of the things the Middle East can look at are creating alternative sustainable energy such as solar and wind power, enhancing its infrastructures such as road and bridges as proper infrastructure is a very important for commerce to be realized. The Middle East could be
There is no nation that can survive economically on only one source of income. The Middle East is no exception to this. Although according to Luthans and Doh,(2012) “Arab and central Asian countries rely almost exclusively on oil production”. Exclusive dependence on any one product would definitely result in economic demise. This would result in greater poverty and economic suffering in a nation where oil is no longer a major and primary resource.
The Middle East would also be faced with political, cultural and religious issues in addition to the economic conditions that would result from the loss of income from oil production and sales. This is so because; the protection and aid the Middle East currently enjoys from the United States in spite of its current policies and turmoil would no longer exist. This would result in greater economic hardship to its citizens. It is imperative that Middle Eastern countries look at other industries to develop for its economic survival.
In a Forbes magazine article entitled, “What Happens When America No Longer Needs Middle East Oil?" Loren Thompson stated that the United States will be self sufficient in energy by 2030 because of new drilling technologies, alternative fuels and the reduction in the consumption of oil reducing the need for imported oil.
Sustainable development is the only way the Middle East would be able to survive economically. According to Thompson some of the things the Middle East can look at are creating alternative sustainable energy such as solar and wind power, enhancing its infrastructures such as road and bridges as proper infrastructure is a very important for commerce to be realized. The Middle East could be