POLS 3260 Lecture 5: Politics of Oil and The Arms Race
25 Oct 2016
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Document Summary
The oil industry in the middle east is the largest industry in the world. Almost everyone is affected directly or indirectly by the supply of oil and price of oil. It is a major source of energy among other things. Those country who has natural gas will be the center of more conflict. When we discuss politics of oil we have to consider several factors first policy of the government in industrial war, then policy of the oil producing countries, and then oil companies. In terms of oil reserves almost every country has oil or natural gas of some sort but the largest oil reserve of the world in in venezuela. Most of these big oil reserves are in the middle east. In terms of natural gas, natural gas is a more important source of energy even more than oil because we have more of it and it is less prudent.
