Oil Companies Turning Away From The Middle East
The violence and cutthroat politics of the Middle East, combined with declining oil and gas production levels, has triggered a subtle but significant shift away from what has long been the center of the energy industry to other regions around the world.
The overall geopolitical situation in the Middle East has been deteriorating since the first major war between Arabs and Israelis in 1948. Conflicts are becoming more violent, weapons used are deadlier, and the number of casualties keeps rising. The two most recent conflicts in the region –the war in Gaza between Palestinians and Israelis — claimed the lives of some 2,000 Palestinians and about 60 Israeli soldiers.
The incredible slaughterhouse that is a mixture of civil war, religious conflict and social economic conflagration taking place today in Syria and Iraq bears witness to the frightening level of mounting violence every time a conflict resumes in the troubled region.
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