Iraq's Marsh Arabs have coexisted with the wetlands' unique ecosystem for 6,000 years. Photo: Dr. Michael Izady, Ph.D. (flickr)

Southern Iraq is home to one of the largest wetlands in the world, where the tributaries of the Tigris and Euphrates meet. But a three-year drought in the Middle East, along with dams and water projects in neighboring countries, has left southern Iraq with a serious water shortage, reports the BBC.

For 6,000 years these wetlands have been home to people called Marsh Arabs. They made their huts out of the marsh reeds, ate fish they caught in the waters, and sold the milk and cheese they made from water buffalo milk, explains the LA Times. (A beautiful slide show of Iraq's marshlands and the Marsh Arabs accompanies the The LA Times article.) But now these wetlands are roughly 30 percent of their former size, says the BBC, and they are continuing to shrink.

The marsh's dropping water levels have devastated the wealth of the region and the livelihoods of the Marsh Arabs. Jassim Asadi, of the nonprofit conservation group Nature Iraq, tells the LA Times the marshes used to supply two-thirds of the fish consumed in Iraq. Now people buy bottled water and frozen fish imported from Iran. “It is an economic disaster,” Asadi says.

Though the drought is "the most immediate cause" threatening the wetlands and their inhabitants, regional water politics cannot be ignored, the BBC says. The Tigris and Euphrates flow through multiple countries, and the rivers are the main water source in the area. A BBC video helps break down the situation:

About 70 percent of Iraq's waters originates outside the country, in Turkey, Syria, and Iran... These countries already have ambitious damn and irrigation projects, limiting how much is left for Iraq. And yet more damns are planned — further reducing the flow into the marshes.

Some scholars and politicians remain hopeful that diplomacy and cooperation amongst the different Middle Eastern countries will allow for more equitable water management. But as things stand now, there is no immediate fix on the horizon.

Venezuelan President Hugo Chávez supported many social programs under "Socialism for the 21st Century" with oil revenue. Photo: Nueva Perspectiva (flickr)

Last week oil prices dipped under $70 a barrel for the first time in over a year. While the lower price may have Americans at the gas pump celebrating, it’s bad news for the leaders of oil-rich countries that made long term plans based on the high price of oil.

Venezuela, Iran and Russia went on a spending spree when oil hit $100 per barrel and then planned upcoming government budgets on the peak price.

The high price of oil allowed these countries to thumb their nose at the West with little risk of a response. Venezuela advanced its socialist agenda both at home and in the region. Iran ignored U.S. nuclear related sanctions, and Russia reasserted itself by invading Georgia.

But because they assumed the price of oil would stay high, they might soon be on receiving end of such gestures. The Washington Post reports that:

According to independent estimates, [Iran and Venezuela] need an average oil price of up to $95 a barrel to fund the populist subsidies and social programs they have launched in recent years — not to mention billions of dollars in arms purchases from Russia. Venezuela has been furiously importing food to fill empty shop shelves, while Iran heavily subsidizes domestic fuel.

Venezuelan President Hugo Chávez has gone on the record as unworried about the falling oil prices citing Venezuela's $40 billion in foreign currency reserves. However, Ricardo Hausmann, a Venezuelan economist who teaches at Harvard, doesn't share Chavez's confidence. “We’re in the same situation of people who have lost a limb but can still feel it. I don’t know how long it will take for Chávez to realize he’s lost a limb."

In response Iran and Venezuela pressured OPEC to cut production by 2 million barrels a day. OPEC members initially took a wait-and-see approach, wary of intensifying a global economic crisis or further decreasing global oil demand, before agreeing to cut production by 1.5 million barrels a day in an attempt to drive up prices.

But skeptics question whether significant production cuts won't simply decrease demand for oil — or whether it will influence the price at all. If OPEC can't drive prices back up to their historic highs, Venezuela, Iran and Russia may face a tough reality as they come off their own oil high.