This study of fundamental aspects of the oil decade examines the influence of oil production, export and revenues on domestic, regional and international relations. It highlights the expansion of higher education in the Arab world, and the increase in demand for industrial and consumer goods.

The downhill slide in the global price of crude oil, which started mid-2014, had major repercussions across the Middle East for net oil exporters, as well as importers closely connected to the oil-producing countries from the Gulf. Following the Arab uprisings of 2010 and 2011, the oil price decline represented a second major shock for the region in the early twenty-first century – one that has continued to impose constraints, but also provided opportunities. Offering the first comprehensive analysis of the Middle Eastern political economy in response to the 2014 oil price decline, this book connects oil market dynamics with an understanding of socio-political changes. Inspired by rentierism, the contributors present original studies on Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The studies reveal a large diversity of country-specific policy adjustment strategies: from the migrant workers in the Arab Gulf, who lost out in the post-2014 period but were incapable of repelling burdensome adjustment policies, to Egypt, Jordan, and Lebanon, who have never been able to fulfil the expectation that they could benefit from the 2014 oil price decline. With timely contributions on the COVID-19-induced oil price crash in 2020, this collection signifies that rentierism still prevails with regard to both empirical dynamics in the Middle East and academic discussions on its political economy.

Goes beyond popular stereotypes to reveal the complex--and changing--political, social, and economic dynamics at play in the Arab Gulf states today.

On 21 November 2007 the grand and elegant Delegates Hall of the Hungarian Parliament was the scene of the opening of a conference to discuss some of the most pressing issues of the day, those related to our unending thirst for energy, its environmental consequences, and the challenges that these bear on security. Over the next 3 days scientists, parliamentarians and their guests confronted, challenged, teased and cajoled each other in a NATO Advanced Research Workshop (ARW) entitled “Energy and Environmental Challenges to Security,” affirming that knowledge and public service hold the keys to solving our greatest challenges. The magnitude of the security challenge was confirmed while this volume was being prepared. In mid-2008, the International Energy Agency issued a report concluding that US$45 trillion would be needed over the next half century to prevent energy shortages and greenhouse gas emissions from undermining global economic growth. But lest such large numbers cause us all to shrug, this volume brings attention to some of the more manageable aspects of the environment and energy security challenge – from addressing conflict resources such as illegal timber that contribute to corruption and regional instability, to means and mechanisms to enable the diversification of energy supplies, to environmental risk reduction strategies for particular installations. The participants in the Hungarian Parliament building were atypical for a NATO Advanced Research Workshop.

In Oil Money, David M. Wight offers a new framework for understanding the course of Middle East–US relations during the 1970s and 1980s: the transformation of the US global empire by Middle East petrodollars. During these two decades, American, Arab, and Iranian elites reconstituted the primary role of the Middle East within the global system of US power from a supplier of cheap crude oil to a source of abundant petrodollars, the revenues earned from the export of oil. In the 1970s, the United States and allied monarchies, including the House of Pahlavi in Iran and the House of Saud in Saudi Arabia, utilized petrodollars to undertake myriad joint initiatives for mutual economic and geopolitical benefit. These petrodollar projects were often unprecedented in scope and included multibillion-dollar development projects, arms sales, purchases of US Treasury securities, and funds for the mujahedin in Afghanistan. Although petrodollar ties often augmented the power of the United States and its Middle East allies, Wight argues they also fostered economic disruptions and state-sponsored violence that drove many Americans, Arabs, and Iranians to resist Middle East–US interdependence, most dramatically during the Iranian Revolution of 1979. Deftly integrating diplomatic, transnational, economic, and cultural analysis, Wight utilizes extensive declassified records from the Nixon, Ford, Carter, and Reagan administrations, the IMF, the World Bank, Saddam Hussein's regime, and private collections to make plain the political economy of US power. Oil Money is an expansive yet judicious investigation of the wide-ranging and contradictory effects of petrodollars on Middle East–US relations and the geopolitics of globalization.

A study of the Saudi Arabian monarchy’s efforts to construct and disseminate a historical narrative to legitimize its rule. The production of history is premised on the selective erasure of certain pasts and the artifacts that stand witness to them. From the elision of archival documents to the demolition of sacred and secular spaces, each act of destruction is also an act of state building. Following the 1991 Gulf War, political elites in Saudi Arabia pursued these dual projects of historical commemoration and state formation with greater fervor to enforce their postwar vision for state, nation, and economy. Seeing Islamist movements as the leading threat to state power, they sought to de-center religion from educational, cultural, and spatial policies. With this book, Rosie Bsheer explores the increasing secularization of the postwar Saudi state and how it manifested in assembling a national archive and reordering urban space in Riyadh and Mecca. The elites’ project was rife with ironies: in Riyadh, they employed world-renowned experts to fashion an imagined history, while at the same time in Mecca they were overseeing the obliteration of a thousand-year-old topography and its replacement with commercial megaprojects. Archive Wars shows how the Saudi state’s response to the challenges of the Gulf War served to historicize a national space, territorialize a national history, and ultimately refract both through new modes of capital accumulation. Praise for Archive Wars “An instant classic. With incredible insight, creativity, and courage, Rosie Bsheer peels away the political and institutional barriers that have so long mystified others seeking to understand Saudi Arabia. Bsheer tells us remarkable new things about the exercise and meaning of power in today’s Saudi Arabia.” —Toby Jones, Rutgers University, author of Desert Kingdom: How Oil and Water Forged Modern Saudi Arabia “There are now two distinct eras in the writing of Saudi Arabian history: before Rosie Bsheer’s Archive Wars and after.” —Robert Vitalis, University of Pennsylvania, author of Oilcraft “Archive Wars explores with conceptual brilliance and historical aplomb the various forms of historical erasure central not just to the Kingdom of Saudi Arabia but to all modern states. In a finely-grained analysis, Rosie Bsheer rethinks the significance of archives, historicism, capital accumulation, and the remaking of the built environment. A must-read for all historians concerned with the materiality of modern state formation.” —Omnia El Shakry, University of California, Davis, author of The Great Social Laboratory: Subjects of Knowledge in Colonial and Postcolonial Egypt

The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.

The oil market is undergoing fundamental change. New technologies are increasing the supply of oil from old and new sources, while rising concerns over the environment are seeing the world gradually moving away from oil. This spells a significant challenge for oil-exporting countries, including those of the Gulf Cooperation Council (GCC) who account for a fifth of the world’s oil production. The GCC countries have recognized the need to reduce their reliance on oil and are all implementing reforms to diversify their economies as well as fiscal and external revenues. Nevertheless, as global oil demand is expected to peak in the next two decades, the associated fiscal imperative could be both larger and more urgent than implied by the GCC countries’ existing plans.

“A stunning piece of work—perhaps the best single book ever produced about our energy economy and its environmental implications” (Bill McHibbon, The New York Review of Books). Petroleum is so deeply entrenched in our economy, politics, and daily lives that even modest efforts to phase it out are fought tooth and nail. Companies and governments depend on oil revenues. Developing nations see oil as their only means to industrial success. And the Western middle class refuses to modify its energy-dependent lifestyle. But even by conservative estimates, we will have burned through most of the world’s accessible oil within mere decades. What will we use in its place to maintain a global economy and political system that are entirely reliant on cheap, readily available energy? In The End of Oil, journalist Paul Roberts talks to both oil optimists and pessimists around the world. He delves deep into the economics and politics, considers the promises and pitfalls of oil alternatives, and shows that—even though the world energy system has begun its epochal transition—we need to take a more proactive stance to avoid catastrophic disruption and dislocation.

Making sense of Saudi Arabia is crucially important today. The kingdom's western province contains the heart of Islam, and it is the United States' closest Arab ally and the largest producer of oil in the world. However, the country is undergoing rapid change: its aged leadership is ceding power to a new generation, and its society, dominated by young people, is restive. Saudi Arabia has long remained closed to foreign scholars, with a select few academics allowed into the kingdom over the past decade. This book presents the fruits of their research as well as those of the most prominent Saudi academics in the field. This volume focuses on different sectors of Saudi society and examines how the changes of the past few decades have affected each. It reflects new insights and provides the most up-to-date research on the country's social, cultural, economic and political dynamics.