According to an economist from the International Energy Agency, more than $19 trillion in investment in oil and gas is required from now until 2035. The economist says that the importance of the Middle East and North Africa lies in the fact that 90 percent of the growth in petroleum supply will come from this region, despite all of the discoveries of oil supplies in Brazil and other "new" oil countries. These figures require, first of all, stability in all countries of the region, along with the funds for investment. Today, the Middle East and oil states are having doubts about this desired stability. Iraq is the second leading oil country after Saudi Arabia in terms of reserves, but it continues to suffer from considerable instability, and the targeting of its oil facilities. Syria is a small oil country in which foreign investments have been halted in the oil sector, because of sanctions, and the regime's barbaric policies. Iran, an important oil and gas producer, is experiencing a deterioration in its oil fields also because of sanctions and the regime's policy of oppression and expansionism. Yemen is a gas exporter and small-scale producer of oil; it is experiencing dangerous domestic battles and conflicts. Egypt, which exports natural gas, is experiencing interruptions in its exports because of sabotage. The important oil country of Libya is seeing the return of its oil production. The hope is that the situation will stabilize there, although Gaddafi must be found and the country should return to building a true, democratic state. The oil and gas situation in Algeria is good, in terms of both production and investment levels. However, what if the virus of Arab uprisings moves to this country; Algeria experienced something similar in 1988, and today there is a type of freedom, but a fear of the country's social problems, as little has been done to improve conditions here. In the Gulf, investments are proceeding at a sound and acceptable level, in the oil and gas sectors of Saudi Arabia, the UAE, Qatar and Kuwait. But these countries are not isolated from the fears of Iran's dangerous and worrying policy in the world and the region. Certainly, the largest and most important oil countries in the Arab region are making the required investments, based on their appraisals and those of each country in the region. There is no fear of a fall-off investment in their vitally important economic sectors. However, they will not get involved unneeded investments as a response to the demands of the International Energy Agency, which continues to sound the warning bell about the insufficiency of investment in the Arab region. The important thing is that investments, wherever they are, see a stable climate. The presence of regimes that are brutal and trouble-making, such as Iran and Syria, results in pessimism with regard to the stability of the Middle East and the ability to benefit from petroleum resources in a stable and promising fashion.
