What´s been happening recently in Iraq as a very continuum of the US led invasion in 2003 and the ISIS (Islamic State of Iraq and Sham) insurgency sunni inspired that longs to instate a caliphate through a very ambitious plan in the arab world threatens to destabilize the whole Middle East and the persian gulf, and so the world oil markets. This is undoubtedly another chapter in the sunni shia divide where Saudi Arabia has a lot to say, given the alliance between Baghdad and Tehran, and the ascending role of Iraq in the world oil scenario with a surging oil production and reserves thar only rivals that of Saudi Arabia and that is countign with a strong support from China and the U.S, keeping into consideration as well the Kurdistan factor, where the main oil wells and fields are located. It wouldnt be weird that all this ISIS fuss is some sort of Al Qaeda like thing artificially created by the foreign powers to keep fragmentation on the arab world and the Islam, and one interesting thing is that if the ISIS keeps advancing and gaining ground say in Saudi soil, this can be the most destabilizing thing of all, pushing oil prices even higher from where they are now. And added to this there´s the situation of prolonged instability in Libya, more civil unrest in Syria, that broadens the specter for a full fledged war and more confrontation in the sands of the Persian Gulf. So whats at stake in Iraq is more than just the stability in the country, is to safeguard its huge oil reserves, partition once and for all the country in 3 zones (one kurdish at the north, one sunni at the very middle, and the remaining south shiite) according to the power rule of "divide and rule or conquer" thats been trying to be imposed by Washington and its allies in the zone.
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