The snapping of diplomatic ties with Qatar by many Arab countries underlines the precariousness of oil politics. Much of the Middle Eastern politics are on account of, and have a direct bearing on, oil and gas. In fact, many speculators expect oil prices to harden after the Qatar development. But that might not happen.
Three things went against Qatar. First, it rankled many Arab states by managing its own wealth very successfully. Envy can be a great driver for hatred. Second, there were reports that it has been supporting Iran which is a Shia country compared to many Arab states which are Sunni. Third, Qatar exports a clean fuel – liquefied natural gas or LNG – which oil producers (including the USA) blame for many of their current problems. Read More…
Credit By: Free Press Journal
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