PARIS — The turmoil in North Africa and the Middle East has helped drive oil prices up to more than $102 a barrel for an important benchmark crude, Brent, although so far there have been no significant disruptions in production or supply, according to experts at the International Energy Agency here.Every administration, regardless of political party, knows that while there may be several million people in this country who will be upset by support of authoritarian regimes, there are over a hundred million people who will be upset if instability and revolution translates into a significant rise in the cost of food, gasoline and heating oil.
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Monday, February 21, 2011
Stability in the Middle East
If you have ever wondered why our government has always preferred stability in the Middle East, which translates into support for authoritarian regimes, this is why:
2 comments:
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For a long time, one of the surest ways of bringing one's government to ruin in the Middle East was trying to nationalize the oil industry. Until very recently, little has changed.
ReplyDeleteBusiness always prefers stability, unless of course, they are in the armaments business, and even then I suspect there is more money to be made supplying arms to stable antagonists then warring ones.
ReplyDelete