Archives Energy resources - Page 14 of 15 - New Eastern Outlook

The modern world is on the path towards the formation of a new world order, and the alignment and role of many countries will change, with some developing countries becoming developed nations and others taking their place, while yet others are highly likely to disappear entirely. Unfortunately, just like hundreds of years ago, our world is far from just and is still plagued by the struggle for resources, which are inevitably monopolized by the strong to the detriment of the weak. Sadly, force continues to determine what is right. As David Hurst, co-founder and editor-in-chief of Middle East Eye writes on this subject, “The old world…

Current events in Yemen are a stark reminder of the explosive fragility of the truce between the government and the Houthi rebels. Although the truce has been unofficially maintained since April 2022, it is on shaky ground as neither the government nor the Houthis have yet been able to fulfill commitments made to the UN last year.Violence is escalating without any discernible progress toward a ceasefire or political solution, and at the same time the economy is collapsing and the humanitarian crisis is deepening. The unofficial truce has not translated into a formal ceasefire…

After months of political negotiations and four days of voting, Iraq’s parliament has finally approved the largest budget in the country’s history. The draft bill for the 2023 document was initially approved by the cabinet and received the green light from the legislature in June 2023. Experts believe that the planning and swift approval of this financial plan represents a telling achievement of the country’s current administration. The adopted budget amounts to a staggering 198.91 trillion Iraqi dinars, equivalent to US $153 billion. However, it has a deficit of 64.36 trillion dinars. Projected oil revenues are estimated at 117.25 trillion dinars…