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An oil boom is a period of large inflow of income as a result of high global oil prices or large oil production in an economy. Generally this short period initially brings economic benefits in terms of increased Gross Domestic Product growth but might later lead to a resource curse. INTRODUCTION:  For decades the Middle […]

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Discovery of oil

In Middle East the oil discovery was first took place in Iran in the year of 1908. William D’Arcy he was a British business man who got the oil concession from the government of Iran. In the time of 19th century the western world countries mostly depended on the oil, during that time only the […]

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The Middle East has a unique geographical position. It is an area situated at the junction of Asia, Europe and Africa and has easy approach in these three continents. The term of Middle East is invented by the western to describe the geographical region that lies between Asia and Africa. There are different theories about […]

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