ABSTRACT
The population of the region is growing faster than its economy and is on average younger than in most European countries. If there is no strong and sustained acceleration of economic growth, resources and opportunities will be spread thinly. Oil provides the basis for economic growth. Oil resources are spread unevenly so that some countries benefit disproportionately, but economic growth in one country tends to benefit its neighbours. Middle Eastern societies have mostly experienced profound difficulties in dealing with the challenges posed by Western modernity. Middle Eastern oil is set to be an important factor in the global economy for decades ahead unless demand drops. There are three ways that might happen: alternative sources of oil, conservation and non-oil sources of energy. There are modest prospects for conservation and alternative energy sources, thanks to anxiety about the environmental effects of continuing to rely on fossil fuels.
