Major oil producing countries, and wealthy individuals in certain petrostates, have injected billions of dollars into soccer clubs, mostly in European leagues, and their reach is spreading in an attempt to promote their “soft power.”
If the GCC crisis lasts for months or even years, the appeal of more extreme measures could grow over time.
While oil and gas supplies have yet to be significantly affected by the current spat surrounding Qatar, it could escalate tensions in the region, home to a majority of the world’s oil reserves, and lead to deeper geopolitical instability.
Similar to other Gulf producers, UAE and Qatar are making efforts toward the twin goals of reducing expensive fuel subsidy programs and diversifying exports through larger natural gas volumes.
Oil revenues and terror funding have a long history. The Fuse speaks with Thomas Sanderson, Director of the Transnational Threats Project at CSIS, on how oil revenues make their way to terrorist groups, and which countries are responsible.
The Panama Papers are another reminder of the extreme wealth, corruption, and opaqueness that is common to leadership in so many oil producing countries.
OPEC's Secretary General said that the "freeze" between certain OPEC and non-OPEC producers is helping to improve prices.