GRM 2010 GRM 2011

Abstract Details

Family Name:
First Name:
Dr. Vrushal
Title of Paper:
\'GCC – Iraq Energy Dynamics Implications for Asia\'
Paper Proposal Text :
‘GCC – Iraq Energy Dynamics: Implications for Asia’
Abstract: GCC has been an important organization not just for the Middle East, but largely for the Asian economies. Asian countries such as India have had age old relations with the region in general and GCC (Countries) in specific. This accounts of specifically the economic relations between the two regions (Asia and Middle East). It is well evident that, with the British takeover of Iraq in the First World War, Indian rupee was functional as an official currency. This showcases, the significance of the relations between Asia (India) and Iraq and its acceptance in the wider Middle East.
A look on the other side also shows the unfriendly Iran – Iraq – GCC dynamics. The GCC – Iraq relations are to a large extent affected by the Iranian policy towards them. 9 / 11 and the following disaster of US invading Iraq have definitely pushed the factor of instability in the region. This paper assesses the broader implications of this war, with special reference to the rapidly growing oil production in Iraq and the Asian Energy Security. The region’s centrality to the global energy markets maintains that the balance of power stays in equilibrium, in the midst’s of the changing policies, following the US – Iraq war.
Iraq is the second largest oil producer in the OPEC and exported 2.71 million b/d by December 2012. In the context where, Iraq plans to boost its output to an average 3.7 million b/d by the end of 2013, it would be topical to probe and understand the rise of Iraq in the post – Saddam period and is it perceived as a threat for the GCC? The paper would also assess its broader implications on the GCC economies and the Asian countries in particular. Thus, the paper intends to address the issue of energy security for Asian countries like India and China in the context of its growing imports from the region (GCC). Can the GCC and Iraq use its technological expertise to reap the benefits of its resource? The prime objective of the paper is to look into the changing energy dynamics and strategies adopted for a scope of energy co-operation between the three entities (GCC – Iraq – Asia) to jointly harness the alternative energy goal.