Oil refinMiddle East Losing Diplomatic WeaponThe Middle East has long been the world’s largest energy producer. Their use of oil as a diplomatic weapon has caused many energy dependent countries, the United States especially, to heavily consider the implications on their crude oil supply prior to taking any strategic position in Middle East conflict. However, the increasing production of oil and natural gas in the United States from hydraulic fracturing is rapidly decreasing the United States’ dependency on Middle Eastern oil. It is speculated that the US could attain energy independence by the year 2020.

This decreased dependence is causing a change in foreign policy. The United States can now afford more flexibility in its dealings with the Middle East. The United States, however, has no plan to withdraw from the Middle East, citing national interests such as the protection of Israel and its own role as a stabilizing force for regional allies. Washington is also concerned that China may displace it as the Middle East’s dominant power due to China’s increased energy imports.

By CWAN Global Press

The Canadian Wealth Advisors Network (CWAN) was established in March of 2009 as an online forum where investment professionals share ideas and best practices that allow them to meet the growing needs of their clients. As the CWAN community grew and evolved, it was expanded to serve both advisors and investors. Garnet O. Powell, MBA, CFA is the Editor-in-Chief of the Canadian Wealth Advisors Network (CWAN) magazine. He is an investment management professional with more than 20 years of experience. linkedin.com/in/garnetpowell

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