U.S. energy independence will not affect Arab oil’s ‘pivotal role’: report

Arab Gulf states are heavily reliant on oil and gas production for economic and security needs. (AFP)

By AL ARABIYA

The Middle East will continue to play a “pivotal role” in supplying global markets with oil, much needed for sustainable economic growth, even if the United States becomes self-sufficient in oil and gas production, as projected within a few years, U.S. think-tank the Atlantic Council said in a report.

“U.S. energy production has been more than offset by the decline in non-OPEC production,” making Arab oil still vital for the global economy, Odeh Aburdene, president of OAI Advisors - an advisory firm providing consultancy on Middle East business, energy and private equity - said in the report.

“It is expected that world energy consumption in the next twenty years will increase by 30 percent. Thus, it is premature to herald the demise of Arab oil,” Aburdene added.

“The significance of Middle East oil does not arise from U.S. oil imports from the region, but from its production capacity to supply some of the major world economies with oil at reasonable prices.”

Geopolitical problems, such as the Iranian nuclear program, the Arab-Israeli conflict and political transition, will continue to make the United States “deeply engaged in the region for a long time,” he said.

Thousands of protesters clash with police in Chicago: Chaos in the Windy City as 45 activists arrested and one cop stabbed after demonstrators target NATO

By DAILY MAIL REPORTER Thousands of demonstrators upset with the war in Afghanistan, climate change and the erosion of union rights have raised the intensity of a march in downtown Chicago on Sunday as world leaders assembled for a NATO summit. The protest, one of the city's largest in years, turned violent at the end of an anti-NATO march, where demonstrators confronted Chicago police, pushing against a line of officers several blocks from the lakefront convention center where President Obama hosted a gathering of world leaders. Authorities were seen making arrests one by one and leading individual demonstrators away in handcuffs. After a clash near McCormick Place, Chicago Police Superintendent Garry McCarthy said at a news conference that the protests resulted in 45 people being arrested and four officers suffering injuries - one from a stab wound in the leg. Scroll down for video Clash: Demonstrators try to flee the police as they are move in on them ...

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