Critical Thinking Essay #2 Example | Topics and Well Written Essays - 500 words

Critical Thinking 2 - Essay ExampleAlthough the industry does not own post a very huge sh ar of the nations national product, it is greatly contri exceptes to the budget of the government, and besides, it is the figure behind the huge economic growth of Iran (Karl, 1997).The export of oil colour is the main source of direct tax income for the Middle East nations governments taking into account their lands are desert. Moreover, it also provides indirect revenue through the taxes that are levied on imports as well as several different activities that are financed by the money from oil and besides, foreign exchange be also earned. All these are beneficial as they maintain other(a) sectors within the economy of the Middle East countries (Karl, 1997). In addition, agriculture is also dependent on imports that are financed by oil hence, Middle East nations intellectual nourishment supply is alleged to rely on imports. However, food supply also depends on the annual rainfall as well as several other conditions.Despite the number of benefits brought about by oil, in Iran, for instance, the nationals of the country have lived to be haunted by its find. Thus, the presence of oil reserves in the Middle East affects the states economically, politically, as well as socio-culturally but the sector, which is highly affected, is the nations political economy. Insecurity is also brought about by the presence of oil similarly, oil has do Middle East to be vulnerable to interferences from the foreign nations, leading to the damage of the historical development of the nations in Middle East (Henry & Springborg, 2001). Monetary resources within the region have greatly been increased by the discovery of oil in the nation. Because the region is endowed with numerous resources, the problem of allocating the fund also comes up.Foreign Super-powers of all time intervened in Middle East nations that have too much oil and tend to manipulate their governments. Moreover, outside( a) oil firms always aim exploit oil