Foreign Policy and the Future of Oil and Gas

International developments have further complicated the nexus between foreign policy and economy. Nowadays a dynamic, global–oriented economy depends in large measure on a proactive, interactive, and effective foreign policy. Energy has been playing an increasingly important role in the world economy in general, and in the economy of energy-producing-exporting countries in particular. The present article tries to first look into current various approaches to the energy field (such as instrumental, consumption-oriented, security-oriented, and developmental perspectives) as well as into the role of oil in foreign policy. Given Iran’s long and turbulent history regarding oil and politics and also its status as a major oil and gas producer, the article will then discuss the role of energy in the Iranian economy. While emphasizing the significance of foreign policy in assisting the energy sector, the article will conclude that improvement in Iran's economic conditions will depend on strengthening its international interactions.