SSC MTS EXAM

Detailed explanation-1: -Without oil our machines, many of our factories, our way of life would come to a halt. Without oil we could not hold the sea, which permits us to hold together the far-flung fragments of the Free World and thereby keep an uneasy peace.

Detailed explanation-2: -Many countries of the Middle East depend on oil as their primary source of income. In the short term, the economies of these countries are doing well, making a good profit from selling oil to other countries. However, in the long term, oil-dependent economies may suffer.

Detailed explanation-3: -“The region’s large oil reserves (<around> 66 per cent of the world’s supply) have resulted in the rapid creation of wealth for some states”[2], mostly, oil-rich, as well as having altered the political and economic processes not only in the oil-exporting countries but also in the region as a whole.