How has the U.S. shale strategy fueled a new energy boom in the Middle East?

It is noteworthy here that history exhibits a certain cyclical pattern—albeit with variations. Prior to 1973/74, the global oil industry was effectively controlled by a small group of Western oil companies—the so-called 'Seven Sisters'—as detailed in my new book on the emerging global oil market order. These firms included Anglo-Persian Oil Company (renamed Anglo-Iranian Oil Company in 1935, today’s BP), Royal Dutch Shell, three successors to Standard Oil (Standard Oil of California, Standard Oil of New Jersey, and Standard Oil of New York), Gulf Oil, and Texaco. From the early 20th century until October 1973, they dominated oil exploration, development, transportation, and pricing. At that time, OPEC members led by Saudi Arabia—as well as Egypt, Syria, and Tunisia—imposed an oil embargo on the United States, the United Kingdom, Japan, Canada, and the Netherlands in response to their support for Israel during the Yom Kippur War. By the time the crisis ended in March 1974, oil prices had surged from roughly $3 per barrel to nearly $11, briefly retreated afterward, then resumed climbing. This further exacerbated global economic slowdown—felt especially acutely in the West. Sheikh Ahmed Zaki Yamani, then Saudi Minister of Petroleum and Mineral Resources, observed that the severe impact of the oil embargo on the West marked a fundamental shift in the global balance of power between developing (oil-producing) nations and advanced industrialized (oil-consuming) countries. However, since then, the United States resolved to curb Middle Eastern influence and secure dominance in its geopolitical rivalry with the two major powers of the era—the Soviet Union and China—through a variant of Henry Kissinger’s 'triangular diplomacy.' Kissinger served as National Security Advisor from January 1969 to November 1975 and as Secretary of State from September 1973 to January 1977. This variant emphasized the principle of 'divide and rule,' systematically weakening adversaries by exploiting economic, political, or religious fissures at community, national, or international levels. This strategy broadly shaped U.S. policy in the Middle East until the advent of the shale revolution. That revolution triggered a price war with OPEC (again led by Saudi Arabia) between 2014 and 2016—ultimately won by the United States—a development comprehensively analyzed in my new book. One key lesson learned by veteran OPEC members was that, at the outbreak of the 2014–2016 price war, the United States managed to rapidly transform its nascent shale oil industry into a highly efficient, low-cost production system—and achieved similar progress in shale gas. It is precisely for this reason that Saudi Arabia and the UAE now seek U.S. assistance in developing their domestic shale gas resources. Riyadh took the lead: since 2019, U.S. companies have participated in the development of Saudi Arabia’s flagship Jafurah shale gas field. Early participants included the U.S.-based National Energy Services Reunited Corp. (NESR), which conducted large-scale hydraulic fracturing operations in the area. From an investment perspective, a consortium led by the U.S. financial giant BlackRock invested approximately $11 billion in midstream infrastructure for Jafurah. Saudi Arabia now aims to increase its natural gas output by 80% by 2030.

Understanding BlackRock: The asset management behemoth managing $15 trillion globally—how distant is it from ordinary people?

Summary of this article Who is BlackRock, and how does it manage $15 trillion in assets? Understand the professional capabilities of this global asset management leader—from its global investment strategy and team division of labor to its Aladdin risk-management platform—and see how ordinary individuals can participate through mutual funds. When people hear 'BlackRock,' many newcomers to global asset allocation may feel it is remote and mysterious—a term that only appears in financial news. In reality, however, BlackRock’s presence is ubiquitous: it underpins retirement pensions for many overseas individuals; powers globally renowned index-based ETFs; and even supplies the risk-control software used daily by major financial institutions. Today, we set aside dry financial jargon to explore what this world-class asset manager actually does every day—and how ordinary individuals can leverage its professional expertise. 01 Who exactly is it—and whose money does it manage? BlackRock was founded in New York in 1988, initially focusing on fixed-income (bond) investments. After decades of growth, its current business spans equities, bonds, multi-asset strategies, and the widely recognized iShares (iShares) index ETFs. As of mid-2026, BlackRock’s assets under management (AUM) totaled approximately $15.3 trillion. What does $15 trillion mean? This massive sum is not BlackRock’s own capital—it belongs to clients worldwide, including national pension funds, university endowments, charitable foundations, and family offices. Different pools of capital carry fundamentally different mandates: ・A public pension fund prioritizes safety, stable income distribution, and resilience across economic cycles; ・A wealth-growth fund may accept greater volatility in pursuit of higher returns. The core mission of asset managers is to tailor investment solutions—conducting global research, selecting appropriate securities, constructing diversified portfolios, and continuously monitoring risks—for each client’s distinct objectives. 02 Breadth of investment: Moving beyond the blind spots of 'going it alone' Many investors habitually focus on a single market or a handful of familiar stocks. Yet opportunities across global markets often rotate: sometimes equities outperform, sometimes bonds offer better value, and economic rhythms frequently diverge across regions. As a global asset management leader, BlackRock’s first advantage lies in its cross-market, all-asset coverage. ・Equity selection focuses on corporate moats and earnings quality; ・Bond selection assesses macro interest-rate trends and creditworthiness; ・Portfolio construction seeks optimal combinations of diverse assets to control overall volatility. For ordinary individuals, tracking macroeconomic developments across dozens of countries and analyzing financial statements from thousands of companies is virtually impossible—precisely why institutional teamwork delivers indispensable value.

BlackRock Sees Central Asia Joining Gulf as Investment Draw

Sep 24, 2026

BlackRock Investment Institute highlights Kazakhstan and Uzbekistan as key investment targets alongside the Gulf and India. Rising oil prices, critical mineral resources, and planned petrochemical projects are attracting significant capital to the region.

bloomberg

2026-06-10

BlackRock Says India Over-Punished Amid Oil Worries, Masked Long-Term Case

2026-09-24

BlackRock Sees Central Asia Joining Gulf as Investment Draw

BlackRock Sees Central Asia Joining Gulf as Investment Draw

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