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Yemen’s oil running out

Published:Thursday | November 20, 2008 | 12:02 PM

The Republic of Yemen is now facing an economic and political crisis as the country\'s oil resources near exhaustion.



The Royal Institute for International Affairs is warning that instability there could expand a zone of lawlessness from northern Kenya to Saudi Arabia.



The World Bank predicts that Yemen\'s oil and gas revenues will plummet over the next two years and fall to zero by 2017 as supplies run out.



It says the situation could reach catastrophic levels as oil and gas account for about 90 percent of the country\'s exports.



Authorities say the country’s economy could collapse within four or five years.



They say a failed state in Yemen could threaten stability across the region.