So, too, is the phase when oil wealth alone could make and keep the region prosperous, as well as insulate Gulf societies from the buffeting winds of globalisation.
Refiners in Spain and Italy have already begun to phase out Iranian oil purchases in anticipation of the embargo, and Saudi Arabia has offered to help fill the gap.
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The second phase would determine how much oil spilled into the Gulf.
Rescue work after a deadly explosion at the headquarters of the Mexican oil company Pemex entered its final and most dangerous phase, the attorney general has said.
Ocean Power is working with Spanish utility Iberdrola, French oil giant Total and two Spanish government agencies for the first phase of a modest 1.39-megawatt facility--a decent-sized nuclear reactor pumps out 2, 200 megawatts--off the coast of Spain.
So, the next phase of North Sea and Atlantic development will respond to oil prices being higher and to a tax regime that encourages small field development.
The first phase of the pipeline began operating in 2010, and moved oil from Alberta to Illinois.
During the current consolidation phase, stocks have been inversely linked to the movement in oil prices the vast majority of the time.
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In 2011, the second phase of Keystone connected Steele City, Nebraska, to the major oil hub in Cushing, Oklahoma.
Now phase that up into enormous industries like the natural gas, coal or oil industry.
As part of a three-phase program to increase its strategic petroleum reserves, China is building four emergency oil-storage facilities across western China, in the east and in the south.
First, China is generating a ton of energy jobs of all kinds--oil, coal, nuclear, renewable--precisely because their economy is in the middle phase of the electrification and transportation build-out that America experienced last century.
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