The Importance Of Placing Energy Resources Under Guarantee

Muslim countries' rich energy resources such as oil and natural gas or their ample reserves in precious metals and other minerals play an important role in relations between the Islamic world and the West. These countries' geo-strategic positions represent another significant element. The Western world is working on various strategies in order to gain control over these resources and reinforce its power by becoming a major influence in the region. However, these strategies, which sometimes bear the hallmarks of an imperialist mindset, also damage peace and the status quo in Muslim lands. The impairment of stability naturally has a negative impact on the Western world's own interests.

The USA currently consumes around 20 million barrels of oil a day. In the 1950s it provided 52% of the world's oil production, though it now imports 53% of its daily consumption from abroad. Researchers predict the USA's oil reserves will be exhausted within the next 20 years. Of the oil imported by the USA, 24% originates in the Middle East, and the Gulf region is therefore of great importance to the future of the USA. In the same way, the reserves in the Caucasus are also highly important for the USA and for the global economy. European countries are even more dependent on oil and natural gas imported from these countries. The importance of these regions for the energy security of the West necessitates co-operation between the countries of the region and the Western world. In order for such co-operation to be established and set in motion, the cultural and economic regeneration of the countries of the region needs to be supported, and peace in the region together with a fully functioning democratic system will make it possible for these resources to be used in the best possible way. Chaos in the region, however, and damage to the established order, will give rise to problems that will inhibit the extraction and processing of these resources, and also their transportation to other countries. We know how difficult security concerns have at times made it to reach raw material reserves. Another problem that needs to be resolved is the use of long and expensive routes in transportation when much shorter and more economical ones are available. All these problems will be resolved with the security the Turkish-Islamic Union brings to the region.

The Turkish-Islamic Union will contribute to the development of a model in which neither Islamic countries nor other communities suffer any losses in terms of these resources being used in the most productive manner. As in all other areas, Muslim countries acting together in an economic alliance will determine a policy regarding the use of resources. The justice-based policy cannot be infringed by any means whatsoever. And this will permit stable and balanced policies, essential elements in terms of oil production and prices in particular and the world economy in general.