The Gulf oil and gas sector : potential and constraints / The Emirates Center for Strategic Studies and Research.

Includes bibliographical references (p. 351-360) and index.

The predominance of oil as the worlds main source of energy, coupled with the recent phenomenal growth of the natural gas industry spurred by environmental considerations, ensure that the Gulfs energy sector will continue to play a pivotal role in the global market. With world demand projected to reach unprecedented levels led by Asian economic powers such as China and India, oil production peaking in key areas and geopolitical crises fueling greater uncertainty, issues of global supply security have come to the fore. All these factors have led to a steep rise in petroleum prices, filling the coffers of the oil producers but threatening to paralyze the global economy and imposing a heavy burden on the ultimate consumers.