Political economy of oil in the arab world

Abstract

The focus of this thesis research revolves around two hypotheses in an attempt to find out which is more accurate in today’s globalized and industrialized world. The first hypothesis looks at oil as bringing harm to the Arab world, while the second one considers oil as being a blessing and a tool of development. Oil, despite the numerous benefits and blessings that it brought to the Arab world, according to scholars, has also had a negative impact on the political landscape and socioeconomic conditions of several Arab Countries. This research intends to highlight the pros and cons related to these hypotheses. It also stresses on the obsession that the West has been having with Middle Easter oil leading to debatable consequences on certain Arab countries; emphasizing on the benefits and blessings that the West provided for these Arab states. Whether “oil has been a blessing or a curse” has been much debated. This research aims at shedding light to determine the validity of such a question with a unipolar conclusive answer.