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Yemen is heading towards an economic and political disaster as the country's oil resources near depletion, a report suggests.
The Royal Institute for International Affairs warns that insecurity in the country could increase a region of lawlessness from northern Kenya to Saudi Arabia. It describes Yemen's democratic system as "fragile" and reports of armed conflicts with Islamists and tribal rebels.
The report ends with a bleak warning that a failed state in Yemen could jeopardize stability across the region. It says it could open the way to piracy, smuggling and a thriving jihad with consequences for the security of shipping routes and the transportation of oil through the Suez Canal.
The World Bank forecasts that Yemen's income from oil and gas will decrease dramatically over the next two years and fall to zero by 2017 as supplies come to an end. Given that around 90% of the country's exports come from oil and gas, this could be disastrous.
One diplomat says that the country's prospects get worse every month. An unnamed energy expert is quoted in the report as saying that the exhaustion of Yemen's oil resources points to economic collapse within four or five year's time.
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