Oil Prices and Changing Middle East - Instablogs
Oil Prices and Changing Middle East
Nassim , Damascus: Oct 27 2008
Made Popular Oct 28 2008

Oil Prices and Changing Middle East
In two previous articles of mine, I suggested that after the change in Iraq, the Middle East is definitely changing, but not necessarily by a systematic way into freedom, democracy and more integration with the world, rather, it is changing into uncertainty. And there is an encounter between an extremist campaign, represented by the Middle East totalitarian axis led by Iran, and a moderate campaign in the Middle East.

Hence, Iran’s role is of key importance in the changing Middle East and, more precisely, in the way the change would take in the Middle East.

The key factor, which empowered Iran to have this role and effect, is oil’s financial returns, especially after the huge rise in oil prices. This essential financial cover has enabled Iran to fund various groups and organizations affiliated with Iran or with its project and interests in the Middle East. And even to fund militias, especially in Iraq, and many parties in Arab Gulf countries, which have Shiite minorities in their populations. The main obvious examples of this fact are Hezbullh and Hamas.

Iran even funded some Syrian arms contracts according to convergent reports.

Then, this financial cover is indispensable means to empower the Middle East totalitarian axis, to enable its role, and to realize its interests in the region.

Now, this financial cover is seriously endangered due to the big decrease in oil prices accompanying the international financial crisis. I have read that Iran loses a million dollars daily with every one-dollar decrease in oil price, according to an expert.

Therefore, Iran is in a very difficult situation. Its role and entire project in the Middle East are in danger if this situation does not change.

We need some months to start seeing the results of this new situation, and to perceive its consequent change at the level of the Middle East.

However, it is definitely a blow to totalitarianism and extremism in the Middle East.

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1 Stars
Soli
Budapest, Hungary
Booming oil prices have made oil exporting countries all over the world have a windfall in the last couple of years when the world was moving towards an economic crisis. The big powers esp the US should move to stabilize the region and normalize ties with Iran and Syria so that more oil can be pumped out to reduce prices.
1 Stars
Salim
Vienna, Austria
If Iraq's oilfields start pumping their full capacity and there is overall peace in the region with sanctions on Iran lifted, then the oil prices will definitely fall and restart the sagging world economy.

Peace brings prosperity.
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