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Compose a 250 words essay on Who gets what from Middle East oil. Needs to be plagiarism free!These figures would come to many as a shock. Many believe that the Middle Eastern countries would have a hi
Compose a 250 words essay on Who gets what from Middle East oil. Needs to be plagiarism free!
These figures would come to many as a shock. Many believe that the Middle Eastern countries would have a high GDP as compared to other Eastern powers because of their rich oil wells. Israel in particular relies on technology as a major export to boost its economy (Mankiw 59). The western countries rely on other produce including technology and electronics as major exports. While the westerners would need oil from the Arab world to run their factories, their dependence on oil is not large enough to move the Arab economy. In addition the Arab world experiences a lot of political turmoil that interferes with the economic growth. Despite the large funds that theses countries receive from oil export, instability prevent the countries from moving forward. Oil resource is one of the richest commodity in the world (Haseeb
