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Peak Oil: Yemen among first dominos to fall

Discussion in 'Political Discussion' started by PressCoverage, Nov 21, 2008.

  1. PressCoverage

    PressCoverage Banned

    Sep 25, 2005
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    "and entire nations will start to collapse... "

    Yemen 'faces crisis as oil ends'
    BBC NEWS | Middle East | Yemen 'faces crisis as oil ends'

    By Martin Plaut
    BBC News

    Experts predict Yemen's oil and gas revenues are about to plummet
    Yemen is facing an economic and political crisis as the country's oil resources near exhaustion, a report by a London-based think-tank says.

    The Royal Institute for International Affairs warns that instability there could expand a zone of lawlessness from northern Kenya to Saudi Arabia.

    It describes Yemen's democracy as "fragile" and points to armed conflicts with Islamists and tribal insurgents.

    One diplomat says that the country's prospects get worse every month.

    The World Bank predicts that Yemen's oil and gas revenues will plummet over the next two years and fall to zero by 2017 as supplies run out.

    Given that they provide around 90% of the country's exports, this could be catastrophic.

    An unnamed energy expert is quoted in the report as saying that this points to economic collapse within four of five years time.

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