Abstract

Energy is one of the most basic of human needs. The accomplishments of civilization have largely been achieved through the increasingly efficient and extensive harnessing of various forms of energy to extend human capabilities and ingenuity. Providing adequate and affordable energy is essential for eradicating poverty, improving human welfare, and raising living standards worldwide. The Persian Gulf is regarded as the energy headquarters of the world since the region holds over 65% of the global oil reserves and contributes to nearly 28% of the world oil supplies. Despite its crucial role in propelling the economic growth of the world over the last sixty years, the region has traditionally experienced a volatile geo-strategic environment. The article focuses on the escalating tension between the United States and Iran. It highlights the broader socio-economical implications of a possible military conflict between the two countries.

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