Michael T Klare: Oilquake in the Middle East – The Collapse of the Old Oil Order

Klare on TomDispatch ..

The experiences of Iran and Iraq [of diminished production] may not in the usual sense be comparable to those of Algeria, Bahrain, Egypt, Iraq, Jordan, Libya, Oman, Morocco, Saudi Arabia, Sudan, Tunisia, and Yemen. However, all of them (and other countries likely to get swept up into the tumult) exhibit some elements of the same authoritarian political mold and all are connected to the old oil order. Algeria, Egypt, Iraq, Libya, Oman, and Sudan are oil producers; Egypt and Jordan guard vital oil pipelines and, in Egypt’s case, a crucial canal for the transport of oil; Bahrain and Yemen as well as Oman occupy strategic points along major oil sealanes. All have received substantial U.S. military aid and/or housed important U.S. military bases. And, in all of these countries, the chant is the same: “The people want the regime to fall.” Two of these regimes have already fallen, three are tottering, and others are at risk. The impact on global oil prices has been swift and merciless

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This entry was posted on Friday, March 4th, 2011 at 8:45 AM and filed under Africa, Articles, Economics, Energy, FBI/CIA/NSA/DHS/DEA, Foreign Affairs, History, Middle East, Politics, Religion, War. Follow comments here with the RSS 2.0 feed. Skip to the end and leave a response. Trackbacks are closed.

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