Baraka_Guru

The Middle East is oil rich, not oil exclusive. Many regions have large manufacturing and services sectors. Iran, for example, derives 15% of its economy from the oil industry; this is rivaled by agriculture (14%), manufacturing (14%), and trade, restaurant, and hotel (14%). It's a big country, as are other regions of the Middle East. Oil isn't the be all and end all when it comes to expanding markets within the context of globalization (or economic integration, whatever you want to call it). As an example, Iran Khodro is the largest car manufacturer in the Middle East and currently makes over one million units a year. Also, 20% of Iran's land is arable, and they are big producers of wheat and barley. And, nearly 2% of the jobs pool is dedicated to running the tourism industry.

There is a lot of opportunity in Iran. As they shift from a largely government-owned to a privatized economy (i.e. they are a transition economy), there will be some very attractive things besides oil. There are over 70 million people there (more than double that of Canada) and the place is bigger than Spain, Sweden, and Germany combined.

The economy is more than just oil. And we may see such is the case when (or if) things settle in Iraq and integrated markets are set up in there.

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Knowing that death is certain and that the time of death is uncertain, what's the most important thing?
—Bhikkhuni Pema Chödrön

Humankind cannot bear very much reality.
—From "Burnt Norton," Four Quartets (1936), T. S. Eliot