Features / Politics
BREXIT: CURRENT AND POTENTIAL RAMIFICATIONS ON THE ENERGY MARKET
Britain’s Exit from the European Union has sparked conflicting debates among world leaders, signaling huge economic and political consequences that render the future of the UK obscure. In late March 2017, British Prime Minister Theresa May has invoked article 50 of the EU law that triggers the start of the two-year process for a country ditching its European membership.
MEDDLING POLITICS IN LEBANON’S Energy Industry
Lebanon has recently fueled prospects for exuberant oil and gas discoveries in the Mediterranean Sea, signaling an energy windfall that would jump start its economy. However, political setbacks that the country has been facing and regional struggles in which Lebanon has been implicated, pose insuperable obstacles to the development of the country’s oil and gas wealth.
The Growing Threat to Iraq’s Oil Industry
The political vacuum and internal conflicts brought about by the US-led war on Iraq has left behind a feeble country, and paved ways for the emergence of armed organizations such as Islamic State (ISIS), which has arisen in Iraq initially as a branch of Al-Qaeda.
TRUMP’S GOOFY OIL POLICY TOWARDS IRAQ
Iraq’s oil industry has been a central component to the welfare of its economy, occupying around 95% of the government’s total revenues. For years following the end of the US war on Iraq, the development of the oil sector in Iraq has been resurrecting amid conflicting national interests over energy resources.
