FRACKING OUR WAY TO MIDEAST PEACE
Low oil prices have so eroded Arab states’ power, they now see Israel as a protector.
The consequences reverberate in the Middle East and beyond. Future oil revenues to countries like Saudi Arabia, Iran, Venezuela, Russia and Iraq will fall trillions of dollars short of what once might have been expected. The shift in energy markets will benefit consumer economies like Japan, China, India and the nations of the European Union.
But the greatest consequences are being felt in the Arab world, where the long-term decline in oil revenues threatens the stability of many states. It is not only the oil producers that will suffer; the prosperous Gulf economies have been a major source of opportunity for Egyptians, Pakistanis, Palestinians and many other Middle Easterners.
The shining cities that rise where the desert meets the Gulf may be in for harder times. The sheikhdoms’ glassy skyscrapers, gleaming malls and opulent apartment complexes were conceived for a world in which runaway energy demand and limited sources (remember “peak oil”?) led to inexorably rising prices. These fragile and artificial economies require hothouse conditions that a weakened OPEC can no longer provide. Now the great Gulf Bubble seems set to slowly deflate.
Harvard types end up working for Wall Street to fleece the world, working for Deep State to perpetuate US globo-hegemony, and working in elite institutions to spread PC and subvert freedom of speech.