So blessed is this region with oil and gas, it is tempting to think that the Gulf was destined to be the world’s energy provider.
OPEC ministers often indulge in platitudes to this effect, depicting their primary export industries as the fulfilment of a God-given duty or indeed a magnanimous contribution to global prosperity.
Such sentiments are rooted in the history of the industry, which grew up in tandem with the colonial experience in the Gulf. But they also carry dangers for policy makers in oil exporting nations.
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