1. Oil as a political weapon
... it once had. However it would be foolish to write off the oil "weapon", even if conventional wisdom tells us that it will not be used again. It is worth remembering that firstly 67% of the worlds known oil resources reside in the region, and secondly, - "the principle developments in world oil over the past two decades have come largely as surprises, and many ... economists have offered an alternative thesis, - "Alan Gelb has pointed out, its is even "possible to make the case that OPEC oil exporters ended the period worse off than they would have been... with constant real oil prices"....
- Word Count: 761
- Approx Pages: 3
- Grade Level: High School