An energy crisis and fresh alliances are making the Gulf more powerful, more volatile—and impossible for the world to ignore
roughly 1m football fans will descend on Qatar for the World Cup, many of them travelling via neighbouring cities such as Dubai and Abu Dhabi. They will find a Gulf in the midst of a $3.5trn energy bonanza, courtesy of
The Gulf states belong to a region that has had a dreadful two decades. Amid wars and uprisings, a million people have died violently in the Middle East and its share of worldhas dropped from 4% in 2012 to 3%. America has cut its military presence following the debacles in Iraq and Afghanistan, leaving old allies, including the Gulf states, fearful of a security vacuum filled by Iran and its proxies.
Even as energy enriches the Gulf—and adds to the heavy burden of stabilising the world’s climate—the second force at work is a new alignment of power in the Middle East. Over the past decade Iran has established a sphere of influence across a northern belt including Iraq, Lebanon and Syria. A reaction is in full swing as most Gulf states, Egypt, Israel and others grow closer.
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