Oil & Gas Industry in Iran
August 26, 2014 in Journals / Articles
Most oil-rich Third World economies have had difficulty in evolving into true economically liberal societies. By owning or con-trolling twenties generated by oil, the state is able to dominate society snaking all classes and groups economically dependent on their ‘Black Gold’. Oil tends to centralize state power in the Middle East, as this commodity contributes 90% to 93% of their total foreign exchange revenue. However with the world rapidly mating new circumstances, this trend is poised for change. With the political developments within the Middle East in the recent past, it is not hard to accept the notion that by 2013 the entire Middle East region is posed to become a ‘Free Trade Zone’ (CNN, June 3, 2003). Read the rest of this entry →