The oil and world relation
Oil has come to play a
very important role in modern words. A day rarely passes without oil being in
the news. The world's oil Industry is the world leading Industry in size and is
perhaps the only international industry which concerns every country in the
world
The Arab countries
are the biggest oil producing and oil exporting countries of the world. USA,
Europe and others nation in Africa and Asia are dependent on Saudi Arabia Libya
Iraq and gulf state for supply of oil. In the year following World War II the
oil producing countries have become more and more aware of their fundamental
National interest and Tailored the production and prices of oil to suit their
own purpose
Awareness of Reliance
of USA on oil outputs from Middle East, the Arab oil producing nations in 1973
use oil as a mean of bringing pressure to bear on USA to discontinue its Pro
Israeli policy. Oil became successful economic and political weapon in struggle
and continuous to be so today
Since World War II oil
has made visible effects on international relations and economic development of
the world. The closure of the Suez Canal for instance after the world war of
1956 and six-day war of 1967 had a stunning effect on the movement of the oil. The
ban on shipping oil to US and Europe had several serious consequences
Developing countries too
are dependent on oil. They are at rapid economic development and face the need
to increase their energy resources
The presence of natural gas and reservoirs of oil
in Baluchistan are the good omen, but only time will tell if they are large enough
to upset our wholesale foreign supply without the discovery and use of energy sources like the nuclear energy ,the development of any
country is not possible and this is evidently true of Pakistan as well.
