Post on 30-Dec-2015
description
• Arab unrest has spread to oil-producing regions of several Gulf Cooperation Council countries, forcing periodic suspensions of oil
production
• Libyan oil has not come online as quickly as hoped and Algeria has production problems
• United States has withdrawn from Iraq and decreased presence in
Persian Gulf• Iran has emerged as a major military and political force in the
region
• Uncertainty over Venezuelan President Hugo Chavez’s illness has caused regime collapse
• The majority of Venezuelan oil is now off the market
• Oil prices have surged to more than $200 a barrel on speculation• Spot shortages in the oil market are becoming more frequent
• There is no global power prepared to deal with the situation
• Turkey and its neighbors must address the problem of regional energy security to maintain economic growth and regional
stability
Opening Scenario: 2012