The Refugee Crisis Is Fuelled By Low Oil Woe
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The expansion of ISIS in the Fertile Crescent and across the Levant has caused a refugee crisis unparalleled since the enforced diasporas of World War II, with up to 12 million people displaced since 2011.
As well as those seeking asylum from the ravages of war, low oil prices are affecting the ability of oil-dependent regions to provide the facilities to cope with the influx of disparate, uprooted populaces. In Iraqi Kurdistan alone, some 35 per cent of the inhabitants of the region are refugees.
A prolonged sub-$50 oil price will doubtless see those fleeing their war-torn nations venturing further afield than the Near East to secure a safer existence for their kinfolk.
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