Economic Geography of the Middle East and Northern Africa?

Question

How is oil and natural gass important to the economics and politics of this region? How does it affect politics within this region? What affect does it have on global politics? Why?

Answer 1

If you look at all the money brought into these regions, I would bet that a significant portion is due to the hydrocarbons found in these regions. For example, Saudi Arabia has the largest oil well in the world. With oil export revenues making up around 90-95 percent of total Saudi export earnings, 70-80 percent of state revenues, and around 40 percent of the country's gross domestic product (GDP), Saudi Arabia's economy remains heavily dependent on oil. And if you know the smallest thing about politics, it is directly related to money. So whoever controls the wells, controls the country. Every decision made is not made unless the effects of this decision have been analyzed to see how it would impact its oil industry. As for Global politics, there are many countries that depend on foreign sources of oil, such as the U.S. Lots of the decisions of these countries are based on the availability to be able to purchase these hydrocarbons. Countries don't want to aggravate these countries. Like the old saying, don't bite the hand that is feeds you.