Western Oil Companies To Get Libya’s Oil

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The rebels are making it very clear that they will reshuffle oil contracts. China, Russia, and Brazil are the losers, especially China. China no doubt regrets not using its veto in the Security Council. The West’s propensity to use force of arms and political manipulations to get what it wants, while thwarting China’s market-based ambitions, is bound to firm up the resolve of China to become a major military power. Iran, having seen Gaddafi fall, is bound to redouble its efforts to get the bomb. Iran has a greatly enhanced incentive to ally itself with Pakistan. The Shanghai Cooperation Organization is bound to strengthen itself and possibly admit new members.

3:40 pm on August 24, 2011
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