Saudi Arabian Hydrocarbons and World Affairs

Sharp fluctuations in oil prices over the past thirty years have had detrimental affects on the evolution of the world economy, with a growing need to diversify energy sources, conventional and non-conventional, renewable and non-renewable. This timely investigation examines the energy problem on a global scale as well as in a political framework. It assesses the role of Saudi Arabian hydrocarbons in underpinning the industrialization of the Kingdom's own economy, and the economy at large, in light of recent events, which include the emergence of China and India as major players on the world's political, economic and energy stages; the 2003 invasion of Iraq; and the financial crisis, which led to the economic recession of 2008 - 9. The authors argue that there needs to be constructive international dialogue, undertaken in an integrated and rational manner, for any agreement to successfully address the problems at hand and find possible appropriate solutions.