It will be a while before we truly realize the aftershocks of what is happening in Iran. It may be a while before we know what is actually happening in Iran, but the impact of what has happened so far will be felt for a long time. I believe the war in Iran began with the Hamas attack on Israel in 2023. That attack ended the idea of a peaceful Palestinian state, which Gaza was established to be. Once that illusion was shattered, and Israel realized how vulnerable it was, the war with Iran was inevitable whether or not America approved or got involved. The issue became the survival of Israel. Since the war began, other Arab states have realized that they are not immune from the terrorist activities of Iran. The region in gradually reshaping itself into a more modern, economically bonded region.<\/p>\n
On Tuesday, The Hill<\/a> reported:<\/p>\n The United Arab Emirates (UAE) will leave the Organization of the Petroleum Exporting Countries (OPEC), the country\u2019s government said on Tuesday.\u00a0<\/strong><\/p>\n The\u00a0country will officially exit OPEC<\/a> and its broader OPEC+ association on May 1 following the government\u2019s internal review of its production policy, according<\/a> to UAE state media, WAM.\u00a0<\/strong><\/p>\n \u201cThis decision reflects the UAE\u2019s long-term strategic and economic vision and evolving energy profile, including accelerated investment in domestic energy production, and reinforces its commitment to a responsible, reliable, and forward-looking role in global energy markets,\u201d WAM reported.<\/strong><\/p>\n The move marks a major change for the permanent intergovernmental organization, which sets uniform petroleum policies among its member countries with the mission of maintaining stable global oil markets.<\/strong><\/p>\n The UAE first joined OPEC seven years after its founding in 1960 under the emirate of Abu Dhabi, and it has been a vital member of the intergovernmental organization. The country\u2019s exit follows UAE officials\u2019 complaints about OPEC\u2019s quotas and the country\u2019s reported clashes with the organization\u2019s de-facto leader, Saudi Arabia.<\/strong><\/p>\n This decision is also the result of the fact that America is not only energy independent–we are exporting oil. Saudi Arabia no longer has the sway that it once had. The energy market is now every man for himself. It will be interesting to see what impact this has on crude oil prices.<\/p>\n","protected":false},"excerpt":{"rendered":" It will be a while before we truly realize the aftershocks of what is happening in Iran. It may be a while before we know what is actually happening in Iran, but the impact of what has happened so far … Continue reading