This book examines the economic impact of changes in the global demand
and supply for fossil fuels both on the major producers in Middle
Eastern countries around the Persian Gulf, other producers, as well as
the world at large. The economic, social and political life of most
countries is not only intimately linked to and influenced by the energy
market but also affected by historical developments. Among other issues,
it shows how the economic, social and political development of societies
in Arabia, the peoples of the Arab Peninsula are influenced by their
historic and cultural environment, and what the future may bring to this
region when their principal economic assets, petroleum and gas, start to
lose markets as alternative sources of fossil fuel, alternative, and
renewable energy supply the bulk of global energy needs. It also
describes how changing fossil fuel costs, access, security of supply,
and environmental impacts may affect future economic, social, and
political developments as well as technological advances and changes in
priorities.